Inerrancy / Literalism

I just don't get the necessity of inerrancy. I just don't think it is an appropriate category. The idea behind literalism I do get though. Literalism is just a way to absolutize current thoughts about the text. Literalism is just a defensive posture. Not defending the Bible, but defending current interpretations of the Bible. In essence the Bible says what the literalist wants it to say. The ultimate standard of truth for the literalist, is the literalist's current opinions. Words, meanings and ideas change, the literalist absolutizes his own group's current interpretations of words and meaning. The Bible is just something on which the literalist can project himself. Feel free to discuss...