Inflation Quotes - Page 12

• the Federal Reserve, has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... The European central bank has only the first. It has no commitment to keep employment up.

  Noam Chomsky

  Commitment, Two, Different

  Interview with Renowned Scholar, dialogosmedia.org. October 13, 2012.

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• The mind must not be forced; artificial and constrained manners fill it with foolish presumption, through unnatural elevation and vain and ridiculous inflation, instead of solid and
  vigorous nutriment.

  Blaise Pascal

  Mind, Ridiculous, Foolish

  Blaise Pascal, Henry Rogers, Victor Cousin, Charles Louandre (1861). “The Thoughts, Letters and Opuscules of Blaise Pascal”, p.513

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• Hot air expands, and seriously pompous attitude is the inflation of choice by those lacking substance.

  Vanna Bonta

  Attitude, Air, Choices

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• Modern thinking is that time did not start with the big bang, and that there was a multiverse even before the big bang. In the inflation theory, and in string theory, there were universes before our big bang, and that big bangs are happening all the time. Universes are formed when bubbles collide or fission into smaller bubles.

  Michio Kaku

  Thinking, Bangs, Modern

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• Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.

  Llewellyn Rockwell

  Money, Cheer, School

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• Some idea of inflation comes from seeing a youngster get his first job at a salary you dreamed of as the culmination of your career.

  Bill Vaughan

  Jobs, Careers, Ideas

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• On the issue of inflation, I think I could solve it no matter how much money it took.

  Pat Paulsen

  Thinking, Issues, Investing

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• Cash - in savings accounts, short-term CDs or money market deposits - is great for an emergency fund. But to fulfill a long-term investment goal like funding your retirement, consider buying stocks. The more distant your financial target, the longer inflation will gnaw at the purchasing power of your money.

  Suze Orman

  Retirement, Cds, Goal

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• Many emerging countries are facing the same issue of overheating and inflation because they have been vigorously expanding fiscal and monetary policy to counter the 2008 shock.

  Sri Mulyani Indrawati

  Country, Issues, Shock

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• The incredible stability in inflation is really a novel human experience. And the inflation is being the result of money.

  Russ Roberts

  Incredibles, Results, Stability

  Source: www.npr.org

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• It takes quite a bit of nerve for Democrats to complain about inflation. This reminds me of germs complaining about the disease.

  Spiro T. Agnew

  Complaining, Nerves, Disease

  Spiro T. Agnew (1970). “The real Spiro Agnew: commonsense quotations of a household word”, Pelican Publishing Company

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• If one regards inflation as an evil, then one has to stop inflating. One has to balance the budget of the government.

  Ludwig von Mises

  Government, Evil, Balance

  Ludwig Von Mises (2006). “Economic Policy: Thoughts for Today and Tomorrow”, p.73, Ludwig von Mises Institute

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• The power to regulate the value of money does not involve a power to dilute the value of money by inflation, an absurd and self-serving rendering.

  Thomas Woods

  Self, Doe, Absurd

  Thomas E. Woods, Jr., Kevin R. C. Gutzman (2008). “Who Killed the Constitution?: The Fate of American Liberty from World War I to George W. Bush”, p.92, Crown Forum

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• Americans of all ages are earning less than they did two decades ago when adjusted for inflation. Yet they’re paying more in taxes.

  Simon Black

  Two, Age, Earning

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• Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.

  Mark Skousen

  Real, Gold, Dollars

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• In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.

  Peter Thiel

  Growth, Stuff, Today

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• The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.

  Ben Bernanke

  Risk, Demand, Path

  Ben Bernanke's Semiannual Monetary Policy Report to the Congress Before the Committee on Financial Services, U.S. House of Representatives, www.federalreserve.gov. February 15, 2006.

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• The issuing power [of money] should be taken from the banks and restored to the people, to whom it properly belongs.

  Thomas Jefferson

  Taken, Democracies Have, Government

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• Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.

  Martin Feldstein

  Years, Cost, Pay

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• The most obvious and yet the oldest and most stubborn error on which the appeal of inflation rests is that of confusing ‘money’ with ‘wealth’…Real wealth, of course, consists in what is produced and consumed: the food we eat, the clothes we wear, the houses we live in. It is railways and roads and motor cars; ships and planes and factories; schools and churches and theaters; pianos, paintings and books. Yet so powerful is the verbal ambiguity that confuses money with wealth, that even those who at times recognize the confusion will slide back into it in the course of their reasoning.

  Henry Hazlitt

  Powerful, Real, Book

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• To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.

  Janet Yellen

  Wise, Running, Target

  "Dear Janet Yellen, Raise The Inflation Target" by Matt Busigin, www.businessinsider.com. February 3, 201.

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• Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.

  Milton Friedman

  Unemployment, Wages, Investing

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• The United States has experienced high rates of inflation in the past and appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century.

  Laurence Kotlikoff

  Running, Country, Past

  "US 'could be going bankrupt'" by Edmund Conway, www.telegraph.co.uk. July 14, 2006.

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• It's clear that the true problems of our Nation are much deeper - deeper than gasoline lines of energy shortages, deeper even than inflation or recession. And I realize more than ever that as President I need your help. So, I decided to reach out and listen to the voices of America.

  Jimmy Carter

  Voice, America, President

  Energy and the National Goals - A Crisis of Confidence, delivered 15 July, 1979

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• For all the gold and silver stolen and shipped to Spain did not make the Spanish people richer. It gave their kings an edge in the balance of power for a time, a chance to hire more mercenary soldiers for their wars. They ended up losing those wars anyway, and all that was left was a deadly inflation, a starving population, the rich richer, the poor poorer, and a ruined peasant class

  Hans Koning

  Kings, War, Class

  Hans Koning (1992). “Columbus: His Enterprise: Exploding the Myth”, p.118, NYU Press

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