Terms Of Service
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Terms Of Service
Ralph Waldo Emerson
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The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.
The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.
Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.
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 when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.
You can't continue to have higher education tuition grow at a multiple of the rate of inflation.
Inflation is taxation 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
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.
The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies.
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.
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
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.
The only way to ensure that inflation expectations remain safely anchored near the FOMC's target is to keep inflation close to that target on a consistent basis.
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.
Inflation is the one form of taxation that can be imposed without legislation.
Monetary policy will, as always, respond to the economy's twists and turns so as to promote, as best as we can in an uncertain economic environment, the employment and inflation goals.
The Planck satellite may detect the imprint of the gravitational waves predicted by inflation. This would be quantum gravity written across the sky.
Efforts to promote financial stability through adjustments in interest rates would increase the volatility of inflation and employment. As a result, I believe a macro-prudential approach to supervision and regulation needs to play the primary role.
Inflation is taking up the poverty line, and poverty is not just economic but defined by way of health and education.
It's not about the pace, it's about the direction we've set. The pace is of course a function of many factors, including the magnitude of the supply shock. But what's probably more important is the probability of the supply shock translating into sustainable embedded inflation.
Avoiding inflation is not an absolute imperative but rather is one of a number of conflicting goals that we must pursue and that we may often have to compromise.
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.
Yes, 4% is the government-mandated target to the MPC. The plus/minus 2 percentage-point upper and lower bands are the tolerance levels specified by the government. If we breach those for three consecutive quarters, we need to inform the government of why that happened and what we propose to do to bring inflation within the two bands.
I don't mind going back to daylight saving time. With inflation, the hour will be the only thing I've saved all year.
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