Inflation Remains Retirees' Real Enemy
Your article "The unkindest cut of all for older Americans" (Top of the News, Jan. 13) doesn't take into account the role of inflation in destroying real assets of ordinary people.
If you adjust the interest rates for 1990 and 1991 by subtracting the consumer inflation (6.1% and about 3%, respectively), you will find that real returns for the two years are essentially the same. The only "disaster" here is the failure of reporters to point this out.
That is one of the reasons politicians can continue to defraud Americans by appearing to solve their "disaster problems" by inflating the currency.
Jesse O. White
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