Inflation - Francis J Bergin & Gary L Alexander - September 1970

Francis J Bergin & Gary L Alexander

CHANCES are you received a raise fairly recently, but found that the extra money went no farther than did your previous salary. There is a reason for this. If a man gains a six percent raise, inflation eats up this raise in less than one year's time; and with the possible elevation to a higher tax bracket, his buying power could actually be LESS. Was this the "bag with holes" spoken of by the prophet Haggai in the sixth century B.C.? Inflation is now a worldwide crisis. The U, S. coin is clipped by about 6.2% a year, and, by exporting this inflation, the United States is bequeathing the world similar rates: 10% in Britain, 8% in Japan, 6% in Germany, etc. - Information Supplied By: Herbert W Armstrong Library