Rogoff's Inflation Solution Is Nothing But Theft

Ken Rogoff is a very serious man, so I know he is NOT kidding. But what he is proposing is theft, pure and simple.

"...the real problem is that the global economy is badly overleveraged, and there is no quick escape without a scheme to transfer wealth from creditors to debtors, either through defaults, financial repression, or inflation."

So, he proposes that "we" (meaning borrowers; you creditors can go screw!) simply inflate by 4%-6% a year until we have destroyed the value of the outstanding debt.