The Devil, Himself Created Inflation

"Inflation’s my name and greed is my game. I deal in dollars and unfortunately for me, I’m still in sad shape. However, the FED, led by Mr. Greenspan decided that nothing less than 17 troubling injections of interest-rate increases could raise the value of the dollar; making it sexier to foreign lenders and more expensive to you. The operating ploy was to claim that it was necessary in order to destroy me or keep me in check. They misled. In reality the increases were like shots of penicillin for me.

"The FED now charges 5 times more for their main product: dollars; and it’s included in everything you buy on credit -- and even for cash. No one worried about me when the United States was running a surplus and all who wanted to work, worked. Things were humming along. I was doomed by the velocity of money, but I am about to have my day. Movement is already coming to a halt and I thrive on adversity.

"Those I love most are the lenders who have re-written and abandoned the old rules defining 'usury.' Of course, she is my best friend and we are happy that she has been let loose. We have had a really lecherous affair since Jimmy was in power -- that is, until Bob nailed me.

"Right now, I’m on the rise, although I’m apprehensive about the inevitable, the day the FED lowers interest rates. But in the meantime, the mortgage lenders and credit card companies are inflating my bubble and you all better beware. I’m on the prowl."

j

h