>>>What you are implying is dangerous macroeconomic gamble... Results we got so far from that, is global increase in commodity prices (food prices > normal => recent uprisings)
>
>Realistically salaries need to increase along with the CPI. If inflation doubles your salary then it also effectively halves your debt. The main damage is destruction of the value of savings but the US doesn't need to worry too much about that.

Savings/Saver mentality have been systematically destroyed already! FED/EURIBOR rates went down to almost zero in the past 10-15 years and people (and public funds) who wanted to preserve money were pushed into speculation on shady financial derivatives markets, stocks, bonds etc. ... Which eventually have lead to all these bubbles / troubles.

If you devaluate dollar close to nothing, then ordinary middle class people will become very very poor. Retirement funds will be depleted in value and you would see one whole generation of yesterday well off, who will all of a sudden became close to very poor.
Will give you an example; My father was a GM in one of state farms making (very) good money all his life. He indeed benefited from inflation in early 80ies when debt on property he got turned into peanuts, but then eventually (with second round of inflation) all his savings (substantial amount) turned into peanuts as well!. Then when retirement time came, his pension became eventually 5-10% of monthly salary of what he was making. Only thing that actually preserved real value was property.

Only 'benefit' of print-press-money business in US, would be that you would see few more administration are able to push the tin
down the street (while Wall-Street continue their heist of the century), but on the long run besides being economically useless it is IMO very dangerous.

>
>I'm not proposing mega-inflation but another dose of the vigorous inflation seen in some economies earlier in our lifetimes. People who bought homes back then benefited hugely as inflation reduced a several-decade debt commitment to something you can put on a credit card today. Why is it fair to deny that sort of leg-up to current/next generations who are being saddled with our debt as well as their own?

Is that what they mean when they say 'Our way of life' ? {g}

Maybe whole world should just smart-up and apply this 'perpetual-consumption-and-debt-pushed-down-on-someone-else' economic model. So every country takes on massive loans and push them straight into public sector consumption. Eventually we would be all happy, grow through cycles, and nobody will ever have to pay any of original debts because consecutive inflation cycles will reduce them to peanuts.
That indeed sounds good! :-)) World would be more beautiful then BarbyFairyTopia {g}, but is it really possible ?
Or we are walking again the steps of pre-1929 and everything that happened thereafter.