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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.
Deflation isn't good, and inflation is easier to cure than deflation.
In the simplest terms, inflation occurs when there's too much money in the system. On the flip side, deflation occurs when there are too few dollars in circulation.
Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.
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.
In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.
Declining productivity and quality means your unit production costs stay high but you don't have as much to sell. Your workers don't want to be paid less, so to maintain profits, you increase your prices. That's inflation.
W. Edwards Deming
The central focus of what we are doing at the Fed is to keep inflation from accelerating - and preferably decelerating.
Businesses that have gone through an episode of hyperinflation become understandably alert to the threat of it: at the first hint of inflation, they're likely to increase prices, since they've learned that if they don't, and inflation hits, their businesses will be wrecked.
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.
Of course, looking tough on inflation is part of any central banker's job description: if investors believe that inflation is going to get out of control, you end up with higher interest rates and capital flight, and a vicious circle quickly ensues.
The real problem is deflation. That is the opposite of inflation but equally serious to the borrower.
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.
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.
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.
Buy a $100 U.S. bond and frame it to teach your children about inflation by watching the U.S. bond value diminish to almost nothing over the next 20 years.
I continue to believe that the American people have a love-hate relationship with inflation. They hate inflation but love everything that causes it.
William E. Simon
One day we will have more inflation, and our bonds will bleed like a pig. The only reason for buying long bonds is short-term or as a desperate haven for terrorized investors. But the potential to make longer-term real money is naught.
There are two main drivers of asset class returns - inflation and growth.
I think the inflation prospects for the U.S. over the next five or six, seven years, are quite serious. You cannot have a bumper crop in apples without the value or the price of each apple falling. The Fed has had the largest increase in the monetary base in the history of the U.S., from colonial times to the present, times ten.
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.
Inflation is taking up the poverty line, and poverty is not just economic but defined by way of health and education.
Recent research suggests that New Deal programs may actually have had their primary impact on the economy by influencing consumer and business expectations of future growth and inflation.
Production is the only answer to inflation.
John F. Kennedy
Martin Luther King, Jr.
A. P. J. Abdul Kalam
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