"Inflation Is Helpful Because It Reduces Indebtedness
That completely unsubtle point was missing from the NYT discussion of the risk of inflation. If there is 15 percent inflation over a five year period, then the real value of mortgages and other household debts fall by 15 percent. That is the most obvious and easiest way to relieve debt burdens.
In this crisis, we're in such a mess, that many actions that the government takes will be unfair to someone. There's no way out of this dilemma. I don't think it's fair that creditors take haircuts, but it's better to guarantee the interests of taxpayers first in this crisis. Posted by: Don the libertarian Democrat