Pro Farmer makes a good point. I have made some recent purchases kind of like you are suggesting but they were purchases that would have been made in the next couple years anyway. I just purchased a little earlier than I would have had I not thought higher interest and inflation were down the road. I think as long as you purchase things you actually need and locking in interest, hedging inflation is not a bad idea. However it is always a bad idea to do anything that if your estimates are "wrong" as pro farmer pointed out that it would put you in a financial bind. Also buying machinery you do not really need in my mind would be more in line with "speculation" rather than "hedging" future inflation in which case if I were going to speculate, why not just buy something easier to speculate with rather than machinery? Something like precious metals, mining stocks, commodities, etc, etc. I think your reasoning logic is valid, just be sure to use sound business logic to apply it.

Just my thoughts on the subject, not claiming they are right or wrong.

John