Insight of the Day: Inflation/Deflation, Young/Old Edition

From the Asia Times' Inner Workings blog:

...As I’ve argued in the past, an aging population depends increasingly on savings invested in fixed income. Inflation generally represents an intra-generational wealth transfer because it benefits debtors (who tend to be young) at the expense of creditors (who tend to be old). An aging society has a stronger constituency for deflation....

-Japan: We Don’t Want to Exclude the US, But…