Is That What We're Doing?

I mean, we've seen this huge increase in debt and all of the advanced economies, including the United States. Effectively, if we take not just year on year inflation, but cumulatively, how much has inflation been higher than people are expecting? It's certainly a number north of 10%. And that's a de facto default. If you look at emerging markets, well, they're actually typically only like 30% that they default on. Look at the UK, for example, could well end up having a 20% cumulative inflation above expectations. But it's not a crisis. I mean, it's bad management because inflation's problematic. It's not good for growth. Even