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This practically writes its own editorial. When prices (the cost of living) get too high, ^buying slows down, an;! when buying slows down, production must be cut.
In the days of free enterprise and the gold standard this as a sure sign the baloon had burst. A depression set in, belts were tightened, and those'that could, waited for prices to drop and consumption, to catch up with production. i - ■; ,\.
In our welfare state the baloon doesn’t break. Instead the' government increases the expenditure ■ of money it hasn’t gdt. We rely,on waste and “give aways” to burn up excess production. Thus the baloon is blown up even Mgh,.er. This is a picturesque way of saying we have further inflation; No one wants t*> see another free enterprise depression^ The fear of one haunta bur nation. But op the .oother hand the dollar is already down to 48 cents in vaue. Like the explorers of old we .may well be traveling west to get to the east. ' . ’' *
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