RE:Inflation risk Well the forward yield curve suggest we have 30 years of 2% or less of inflation.
Debt is deflationary. It increases current period demand... bringing forward purchases. So you have temporary inflation. When that is exhausted, you have to... unfortunately... pay your debts.
When OPEC and Iran have 10MM spare barrels of production capacity this is supply constrained inflation. Look at the forward oil price curves, they go back to $50-$55. And just take a look at the surge in rigs in North America. There will be a supply response.