Craz, I don't think it's a matter of things being more expensive. We all understand that. We don't have our heads in the sand.

But as the Portfolio piece graphically explains, the airlines are cyncially minting new miles to sell even as they shrink their route networks. That is not just insane, it would normally be borderline criminal.

It shouldn't be allowed. It essentially turns frequent flyer programs into Ponzi and pyramind schemes. And when airlines start making seats unavailable at any price (as Delta did and Continental, Northwest and US Airways do), it IS criminal. IMHO.

PORTFOLIO STORY ON DEVALUATION
http://www.portfolio.com/business-tr...-Airline-Miles