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August 16, 2013


John Rowe

Your point #6 is well taken. How do we and the other nations around the world pay off this debt?
The answer is staring us in the face. Inflation. It is just fine with Bernanke that we wish for 2% and can tolerate maybe 2 1/2%. Or 3%. I am getting zilch on my bank account and paying 40% of that in taxes. I am told that inflation is at 2%. Does anyone believe that inflation is 2%?
2% inflation compounded reduces your money by neatly 25%. That is fine, in fact Ben's policy.
Well done, Dick

John Rowe Cupertino, CA

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