>>>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.
>
>Can you provide an example where this occurred? I don't mean hyperinflation examples like Zimbabwe where economic disaster is reflected in currency destruction, I mean examples of modern thriving economies affected this way by inflation in the real world.

The following substitution is presented to clarify my meaning.
When one's government owes, inflation is your friend.

This is what I was pointing out as my disagreement. Right now the US is purposely devaluing our currency. The resulting inflation may be good for the US debt load but any gain to the country's financial situation is offset by the real costs inflicted on the citizenry through increased costs of goods & services on a day-to-day basis.

>FWIW there are first world countries whose reserve bank has a narrow responsibility to control inflation. This can exert a terrible effect on interest and exchange rates.

I can think of one first world country whose reserve bank has a duel responsibility to control inflation and unemployment and are currently screwing the pooch on both. ;)