I decided a while back that getting drawn into yet another inflation vs. deflation debate would be a waste of my time, since no one in the inflationist camp has ever challenged me with a reasonably good question, much less persuaded me that hyperinflation was any more than an extremely remote possibility. A recent exchange of e-mails with one of that camp's most capable and articulate spokesmen, iTulip co-founder Eric Janszen, has done nothing to change my mind. Even so, in hopes of dragging a little-understood facet of the dismal science into the light of day, I will share with you some snippets from the exchange I've just had with Eric. If you want the unabridged version of our disputation, it will be posted as an audio offering at iTulip sometime soon. How anyone could fail to understand that the by-now inevitable implosion of a $400 trillion global debt bubble must end in ruinous deflation is beyond me. And it is not just the dummies who think this, either. Eric Janszen is no fool, as anyone who has visited iTulip could tell you. And Gary North, another inflationist who has dug in his heels on the issue, is one of the most astute commentators in the world of economics, not to mention as gifted a polemicist as ever sat down to type. And there is my erstwhile pen-pal Fred Hapgood, probably the only person with a Harvard degree ever to have taught, if only for a year, at Atlantic City High School. Check out his Web site ' 'providing intellectual property to the trade' ' if you want to see an extraordinary mind at paying work. (There's even an essay there about 'good' deflation.) Fed Would Never� So why do all three of these guys turn positively facile when the
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