This title is pretty misleading. The author claims that inflation is "implicitly repudiating debt". This is really not how the phrase "repudiating debt" is used.
Nobody is too surprised when the dollar suffers inflation. But it would be shocking if the U.S. actually refused to honor T-bills.
Also, the devaluation of the dollar is hardly new. The dollar has been weakening vs the euro since early 2006.
Don't get me wrong, inflation is bad, and it hurts the poor who are honestly trying to save the worst. But it isn't the end of the world. It's not even nearly as bad as the 70's, inflation-wise. The real danger is in the hard-to-predict "black swan" disasters that could still happen.
Nobody is too surprised when the dollar suffers inflation. But it would be shocking if the U.S. actually refused to honor T-bills.
Also, the devaluation of the dollar is hardly new. The dollar has been weakening vs the euro since early 2006.
http://finance.yahoo.com/currency/convert?from=USD&to=EU...
Don't get me wrong, inflation is bad, and it hurts the poor who are honestly trying to save the worst. But it isn't the end of the world. It's not even nearly as bad as the 70's, inflation-wise. The real danger is in the hard-to-predict "black swan" disasters that could still happen.