> Net spending == consumption + debt payments Why is this a useful definition of net spending? What about business spending? What about government spending? Do

> Net spending == consumption + debt payments Why is this a useful definition of net spending? What about business spending? What about government spending? Do you include business debt payments in "debt payments"? I also don't know why you think increasing consumption as a total share of spending would increase the wealth of creditors. I get that you're trying to show how inflation leads to debt reduction. It is true that unexpected and sudden increases in inflation lead to debt reduction, but its only one very small piece of the puzzle. Unexpected and sudden inflation is quite rare in our current economic environment.