Letters: Is inflation a cure for the economy?
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Re “Higher inflation might be good for the economy,” Column, July 25
Michael Hiltzik’s suggestion that inflation is part of the answer to reducing our debt is immoral.
People who saved to provide for their needs in the future would find much of their savings destroyed. Those who bought unaffordable items on credit would pay less than they promised. People who lent money to the government or others believing they would be paid back would get less than the value of their loans.
It would punish the responsible and reward the irresponsible. It would mean the grasshopper wins.
David Goodwin
Los Angeles
Why not a little inflation? When inflation in the United States was in the 4% to 6% range, salaries increased and so did spending. The value of homes and personal property increased. The stock market grew stronger. Bank interest paid to savers increased, and even Social Security payments to the retired were boosted.
The economy was the resultant beneficiary.
Eugene Strull
Los Angeles
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