Yglesias spirals into endless variables

Unlike the United States, China is not burdened by massive excess capacity and idling of usable resources. Also unlike the United States, China has a very real inflation issue to deal with:

Yglesias has aleady defined monetary inflation, which he thinks is doable. So, now for bankers following the Yglesias line we now have:

nominal rate
real rates
real rates plus fake inflation
real rates plus real inflation

Whoa, stop there, head spinning We need a better theory.