On the benefits of (low) inflation.....

Tim Harford roots for 2% inflation.  Hard to argue with his logic, especially since a deflationary economy is way more scary to those of us who have all our assets in real estate.  A wee excerpt:

Hyperinflation does not strike at random, and it does not happen because central banks briefly slumber. It must be manufactured by the relentless printing of money, generally as the last resort in the face of political dysfunction alongside a severe fiscal crisis. Perhaps it is rash to say so, but I think we can set aside fears of hyperinflation in an advanced economy today. If it ever does happen, it will be only one element in a far more comprehensive economic disaster.