In his April 25 column, “Flirtation with inflation brings consternation,” James McCusker shows a fundamental lack of understanding of the consequences of the alternative to inflation, deflation. Job creation requires investment; deflation specifically devalues investment by increasing the value of hard currency over time. Without inflation, a member of the investor class makes more money by holding on to their currency instead of loaning it out to productive members of society. If McCusker wants to create jobs, perhaps he should retire and offer his position to a real economist.
Thane Walkup
Mukilteo
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