LTE: A different view

Martin Crutsinger goes to great lengths to put a happy face on news that wholesale prices were down a record setting 6.8 percent over the past year, and continued to plummet in July at an annualized rate of 10.8 percent (See “Report eases inflation fears/Energy costs drive a decline in wholesale prices,” Wednesday).  Crutsinger claims economists view this as a good thing, since “inflation will stay away ... giving the Federal Reserve room to keep invigorating the economy with record-low interest rates.”

So that was their takeaway. Thank goodness. I thought they might interpret the biggest drop in wholesale prices “in 62 years” followed by the Fed offering interest rates as low as 0 percent as signs of a tanking economy, runaway deflation and a panicky government flooding the markets with greenbacks in a attempt to stem the tide.

 

— Pete Smith, Cypress

 

http://www.chron.com/default/article/Letters-to-the-editor-1555572.php