>>>It's much, much worse.
>
>Only because you allow it to be. When you owe, inflation is your friend. ;-)
Not when the "you" is one's government with control over "your" currency. Any potential inflationary gain on debts is more than offset by your losses in purchasing power. It's even worse if you do not have control of your currency (See Greece).
Here's an interesting hedge for interesting times.
http://www.marketwatch.com/story/the-perfect-hedge-for-this-crisis-2011-07-18?link=MW_latest_news
Wine is sunlight, held together by water - Galileo Galilei
Un jour sans vin est comme un jour sans soleil - Louis Pasteur
Water separates the people of the world; wine unites them - anonymous
Wine is the most civilized thing in the world - Ernest Hemingway
Wine makes daily living easier, less hurried, with fewer tensions and more tolerance - Benjamin Franklin
