The Root Of All Evil
Teleport hacks are still in widespread use. I see them used all the time on Darkhaven by bots for farming nodes and mobs. I'm sure they're profitable, but I'm also sure that profit will diminish once The ArenaNet Strikes Back.
Deflationary spirals are caused when the value of a currency increases over time. Appreciating currency discourages investment by making it more profitable to simply hold onto it. The rising prices we're seeing and the rapidly diminishing value of gold relative to gems is not characteristic of a deflationary spiral -- at least, not with respect to gold.
Gems, on the other hand, are a different story, and it seems very likely most of the "smart money" has gone into gems to ride out the current round of gold inflation. In fact, it's arguable that an exodus by gold farmers into gems may be a factor in reducing the value of gold relative to gems, but that's a whole 'nother can of worms -- and probably not the case, anyway.
Meanwhile, I made a conscious decision from the start not to get hung up with grinding out money and playing the markets in GW2. I've done it before in other games and have found that it ultimately eclipses the game itself, which in turn makes the gameplay experience less enjoyable for me. If I want to scam, play markets and make big money, I'll dust off my three EVE accounts and revive my trading and piracy concern in that universe.
As it happens, in Guild Wars 2 I've been paying little attention to the trading post other than as a consumer and selling loot for the best prices I can get, and money hasn't been any problem at all. I usually solo during the off hours due to my schedule these days, rarely group, do very little crafting, don't do dungeons or run personal stories. I'm saving those for later.
I just play the game by doing whatever I feel like doing, and it's working great!
The Curse Of Contentment
Currently I'm leveling up my Warrior who, after my Mesmer, Engineer and Thief, will be my fourth Level 80 character. He will, like my other capped characters, have Exotic weapons and Rare armor. There will be plenty of room for growth into more Exotic -- and, eventually, perhaps Ascended -- gear, but in the meantime they will be carrying the best weapons stats available in the game and the next-best armor, and that's nothing to cry about.
That's on top of 12-slot bags and other amenities that make life easier, and while I do have to manage and budget my money, it really hasn't been a problem.
Am I rich? Nope. Am I happy? Yes. In fact, I'm happier than if I had enough money to buy anything and everything I want.
How do I know that? Because in other games, I
have had enough money to buy everything I wanted, and it's not nearly what it's cracked up to be. Maybe it's fun for other players, but for me, the fun is in always having something more to shoot for, and not just being able to buy my way through virtual life.
Making lots of money can be fun, and be a game in its own right, but once money becomes an end in itself, it becomes less fun. Ultimately, taken to excess, it can become a curse and rob a player of actual fun in a game, just as it can in real life.
True happiness is being happy with what you have. After that, everything else is just a bonus.