"Dry Season Rice Harvest Expected to Stabilize Prices.... Government campaign for greater production meeting with success as control measures are applied against hoarders, speculators." The contradiction is that if we had enough rice to stabilize prices, speculation would vanish instantly. In special type it even says Biba might soon raise rations to the ordered 240 grams per day — which no Filipino today would believe.

"Lines of enemy fortifications around Imphal near collapse" — we've heard that before too.

Commentator: "Japan's strategy in South Pacific has enemy confused" — but pleased, eh? If Japan can simultaneously make a major offensive in China and East India, then she could make one in the Pacific too if she wants, he says.

Inflation dominates the conversation today. Everyone wants to buy something. Real estate is 20-times prewar, so that is ruled out. People who I've dogged to buy stocks are dogging me now, but sellers are now scarce. People without much capital are buying liquor, medicines and food. There's not the slightest doubt that military currency will fall to ZERO when the Yanks arrive.