Inflation Quotes - Page 9

• The most common mistakes were investing in money market funds by people who were so scared at the prospect of managing their own funds that they picked the most conservative option, and their investments did not keep up with inflation. The second major mistake was being too heavily invested in their own company's stock, and buying when it was high and there was a lot of optimism about the company, and then having to sell it low when the company got in trouble.

  Hedrick Smith

  Mistake, People, Optimism

  Source: www.washingtonpost.com

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• Our purpose is to lean against the winds of deflation or inflation, whichever way they are blowing.

  William McChesney Martin

  Wind, Purpose, Way

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• In a free enterprise system, with an honest and stable money, there is dominantly a close link between effort and productivity, on the one hand, and economic reward on the other. Inflation severs this link. Reward comes to depend less and less on effort and production, and more and more on successful gambling and luck.

  Henry Hazlitt

  Successful, Gambling, Hands

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• There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.

  John Maynard Keynes

  Mean, Economics, Currency

  The Economic Consequences of the Peace ch. 6 (1919).

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• I always think of the economy as going down a pretty broad road that has mud on either side - for inflation and deflation. What hurts the market is when we unexpectedly swerve into one of those mud banks.

  John Manley

  Hurt, Thinking, Economy

  Source: uk.businessinsider.com

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• With old inflation riding the headlines, I have read till I am bleary-eyed, and I can't get head from tails of the whole thing. ... Now we are living in an age of explanations-and plenty of 'em, too-but no two things that's been done to us have been explained twice the same way, by even the same man. It's and age of in one ear and out the other.

  Will Rogers

  Science, Men, Two

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• Inflation is certainly low and stable and, measured in unemployment and labour-market slack, the economy has made a lot of progress. The pace of growth is disappointingly slow, mostly because productivity growth has been very slow, which is not really something amenable to monetary policy. It comes from changes in technology, changes in worker skills and a variety of other things, but not monetary policy, in particular.

  Ben Bernanke

  Technology, Growth, Progress

  Source: www.macleans.ca

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• Gold has no increasing value. And if you're really worried about, say, inflation rising, I would buy Spam. You know, you can eat Spam. You cannot eat gold.

  Nouriel Roubini

  Gold, Rising, Worried

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• Bernanke and company are trying to reflate the economy with almost stated objective of inflation at 2 percent and higher in order to provide some type of safety margin for a future recession. That's where they want to go.

  Bill Gross

  Order, Safety, Trying

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• And I don't see that popular measures, self-abnegation and democracy have done anything for Man but push him further into the mud. Currently, popularity endorses degraded novels, self-abnegation has filled the Southeast Asian jungles with stone idols and corpses, and democracy has given us inflation and income tax.

  L. Ron Hubbard

  Men, Democracies Have, Self

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• Higher education is the place where people who had big plans in high school get stuck in fierce rivalries with equally smart peers over conventional careers like management consulting and investment banking. For the privilege of being turned into conformists, students (or their families) pay hundreds of thousands of dollars in skyrocketing tuition that continues to outpace inflation. Why are we doing this to ourselves?

  Peter Thiel

  Smart, School, Careers

  Peter Thiel, Blake Masters (2014). “Zero to One: Notes on Startups, or How to Build the Future”, p.31, Crown Business

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• According to inflation, the more than 100 billion galaxies, sparkling throughout space like heavenly diamonds, are nothing but quantum mechanics writ large across the sky. To me, this realization is one of the greatest wonders of the modern scientific age.

  Brian Greene

  Sky, Space, Age

  Brian Greene (2007). “The Fabric of the Cosmos: Space, Time, and the Texture of Reality”, p.308, Vintage

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• Mere inflation-that is, the mere issuance of more money, with the consequence of higher wages and prices-may look like the creation of more demand. But in terms of the actual production and exchange of real things it is not.

  Henry Hazlitt

  Real, Looks, Wages

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.23, Crown Business

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• In the long run, the gold price has to go up in relation to paper money. There is no other way. To what price, that depends on the scale of the inflation - and we know that inflation will continue.

  Nicholas Deak

  Running, Long, Gold

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• Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.

  Murray Rothbard

  Money, Blessing, America

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• In the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total.

  G. Edward Griffin

  War, Loss, Government

  "The creature from Jekyll Island". Book by G. Edward Griffin, 1994.

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• In the fall of 1972, President Nixon announced that the rate of increase of inflation was decreasing. This was the first time a president used the third derivative to advance his case for reelection.

  Hugo Rossi

  Time, Fall, Math

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• Thanksgiving. It proved you had survived another year with its wars, inflation, unemployment, smog, presidents. It was a grand neurotic gathering of clans: loud drunks, grandmothers, sisters, aunts, screaming children, would-be suicides. And don't forget indigestion. I wasn't different from anyone else: There sat the 18-pound bird on my sink, dead, plucked, totally disemboweled. Iris would roast it for me.

  Charles Bukowski

  Thanksgiving, Suicide, Children

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• I remember the $0.05 hamburger and a $0.40-per-hour minimum wage, so I've seen a tremendous amount of inflation in my lifetime. Did it ruin the investment climate? I think not.

  Charlie Munger

  Thinking, Climate, Minimum Wage

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• Here at home, ... while the most likely scenario remains solid growth and low inflation -- subject to the usual ups and downs -- certain sectors have been impacted by the crisis, some because of increased imports and others because of decreased exports. Moreover, problems in the global economy do constitute a risk to all our overall economic well-being.

  Robert Rubin

  Home, Risk, Growth

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• Rising unemployment and the recession have been the price that we have had to pay to get inflation down. That price is well worth paying.

  Norman Lamont

  Unemployment, Rising, Pay

  Norman Lamont during House of Commons Debates, www.publications.parliament.uk. May 16, 1991.

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• Investing solely for 'income,' investing merely 'to keep capital employed,' and investing simply 'to hedge against inflation' are all entirely out of the question.

  Gerald M. Loeb

  Income, Investing, Employed

  Gerald M. Loeb (2007). “Battle for Investment Survival”, p.29, John Wiley & Sons

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• If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences.

  Henry Hazlitt

  Government, Order, Credit

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• Getting back to inflation, it is important to note that the producer price Index does not reflect wage pressures - and that is where the inflation threat really lies.

  Larry Wachtel

  Lying, Important, Doe

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• Inflation is not always the main problem, or indeed a problem at all. Sometimes, though rarely, deflation is a more serious threat, and we need to shelve many of the orthodoxies we have held so dear.

  Gavyn Davies

  Needs, Orthodoxy, Serious

  "We must start thinking like South American dictators" by Gavyn Davies, www.theguardian.com. November 12, 2008.

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