One of the stranger things in recent weeks has been Matt Yglesias’ preoccupation with mocking people concerned about the inflationary effects of the Fed’s grossly irresponsible, inflationary policies. It’s true that inflationary policies will help debtors, because these policies will ruin the value of the dollar. Perhaps there would be less reason to be concerned about 1970s-era problems if the central bank weren’t making the same disastrous moves made in the 1970s.