Quote of the Day
The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.
Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.
And so our goal on health care is, if we can get, instead of health care costs going up 6 percent a year, it's going up at the level of inflation, maybe just slightly above inflation, we've made huge progress. And by the way, that is the single most important thing we could do in terms of reducing our deficit. That's why we did it.
Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
Inflation is taxation without legislation.
Inflation is the one form of taxation that can be imposed without legislation.
By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
John Maynard Keynes
I don't mind going back to daylight saving time. With inflation, the hour will be the only thing I've saved all year.
Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.
Friedrich August von Hayek
Inflation is bringing us true democracy. For the first time in history, luxuries and necessities are selling at the same price.
Inflation is the crabgrass in your savings.
Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won't grow any faster than the rate of inflation.
Taxes on capital, taxes on labor, inflation, bureaucratic regulation, minimum wage laws, are all - to different degrees - unnecessary slices of the wedge that stand between an individual's effort and reward for that effort.
There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.
The real problem is deflation. That is the opposite of inflation but equally serious to the borrower.
We are a people trying not only to solve the problems of the present: unemployment, inflation... but we are attempting on a larger scale to fulfill the promise of America.
We asked the workers to give up 25 percent of their salaries. Imagine! We asked the industrialists to freeze all costs, no matter what the inflation is.
The difficulty for Mr. Obama will be when the public sees where his decisions lead - higher inflation, higher interest rates, higher taxes, sluggish growth, and a jobless recovery.
No one should expect the value of their house to appreciate quickly - counting on your home to be a significant part of your retirement saving isn't a winning strategy - but it is reasonable to expect that prices generally will rise with at least the rate of inflation for some time to come.
The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before.
I'm a political scientist and I study these things, and I know that economic problems, with the rising unemployment and inflation and low productivity and so forth, were a factor in that election, in that defeat of President Carter.
This persistence as private firms continued because it ensured the maximum of anonymity and secrecy to persons of tremendous public power who dreaded public knowledge of their activities as an evil almost as great as inflation.
There are two main drivers of asset class returns - inflation and growth.
What I'm trying to say is that for the average investor, what I would encourage them to do is to understand that there's inflation and growth. It can go higher and lower and to have four different portfolios essentially that make up your entire portfolio that gets you balanced.
When growth is slower-than-expected, stocks go down. When inflation is higher-than-expected, bonds go down. When inflation is lower-than-expected, bonds go up.
Domestic inflation reflects domestic monetary policy.
In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth.
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