My friends on the Oil Drum will link that to a last spurt of cheap energy 'probably in the form of the boom in Chinese coal production) which is now over. Wind power
Look, I don't have any debt but the consequences of waiting for default or 10 years of doldrums to reduce the debt overhand might be that I'd be out of a job soon with no prospects but emigrating to another continent. So I'm willing to endure a loss of purchasing power. After all, my income can support higher taxes, too.
Inflation is destructive of incomes and asset values, deflation is destructive of the human spirit. By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
