The Inflation Obsession

---------- Forwarded message ----------
From: barry levine 
Date: Mon, Mar 3, 2014 at 3:27 PM
Subject: re: The Inflation Obsession
To: "letters@nytimes.com"

To the Editor: 

   Professor Krugman points to a compelling correlation; inflation obsessives tend to be conservatives and conservatives tend to be inflation obsessives. But the sample is small, and there are confounding variable. Note that our monetary policy is set by the Federal Reserve BANK, and the directors of that BANK are BANKERS. BANKERS make money by lending money at interest, and want that money repaid in stronger currency, not weaker. So as long as our monetary policy is set by BANKERS, it will build in an obsession with inflation. You can bank on it.

Barry Haskell Levine

http://www.nytimes.com/2014/03/03/opinion/krugman-the-inflation-obsession.html?ref=todayspaper&_r=0