Yes, but so what? As I keep saying, it doesn't matter how many links there are in the value chain; whether it's zero or twenty. If my carrot project results in a net increase in productivity, there is obviously no instantaneous inflation and/or bubble, by construction. Firstly, nothing is printed out of thin air, obviously. Secondly, I described a pre-condition that must hold true for your "inflationary effects" not to occur. Thirdly, it has obviously worked, otherwise debt would not exist as a financing instrument. Fourthly, my reasoning is to try to understand how people here can be so incredibly unfamiliar with basic economics. Fifthly, when did I ever promote it as a magical solution? The approach has its flaws, which I would happily point out. Finally, if anything I have said so far isn't entirely obvious, I would be happy to spend some time (at some point) to go through the whole "island A lemons" textbook economics malarkey.