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Inflation.(Letters To The Editor)(Letter to the Editor)
Thank you so much for the article "Is Inflation Back?" (June 28 issue) by John F. McManus. Inflation is a "process," wrote John Maynard Keynes in 1920. "which not one man in a million is able to diagnose." Keynes also made us aware of the secrecy involved. He wrote: "By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens."
Mr. McManus (referring back to a June 30, 2003 article) correctly informed us that "the money supply has risen $67.6 billion, or 9.6 percent, since one year ...
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