Inflation Quotes - Page 10

• Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.

  Paul Volcker

  Double Standard, Feds, Terrible

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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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• People who think a tax boost will cure inflation are the same ones who believe another drink will cure a hangover.

  Ronald Reagan

  Believe, Hangover, Thinking

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• It is not wise for us to permit a few people on the Federal Reserve Board to have life and death power over our economy. My recommendation for reducing some of that power is to repeal legal tender laws and eliminate all taxes on gold, silver and platinum transactions. That way there would be money substitutes and the government money monopoly would be reduced and hence the ability to tax - some people would say steal from - us through inflation.

  Walter E. Williams

  Wise, Law, Government

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• I think the minimum wage outght to keep pace with inflation. I think the minimum wage is a good thing to have in our country and I think it ought to be updated.

  Mitt Romney

  Country, Thinking, Pace

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• Any money the government spends must be taxed, borrowed or conjured out of thin air by the Federal Reserve, and that will reduce sound private investment. Obama has no real wealth to inject into the economy. He can only move around existing money while inflation robs us of purchasing power. Meanwhile, private investors who might have produced a better engine, battery, computer, cancer treatment or other wealth-creating and life-enhancing innovations hold back for fear that big government will undermine productive efforts.

  John Stossel

  Real, Cancer, Moving

  "Arrogant Conceit". townhall.com. December 24, 2008.

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• Inflation, being a fraudulent invasion of property, could not take place on the free market.

  Murray Rothbard

  Invasion, Free Market, Property

  Murray Newton Rothbard (1981). “What Has Government Done to Our Money?”, p.48, Ludwig von Mises Institute

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• When runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led directly to the rise of the Nazis.

  Nick Clooney

  Class, Germany, Nazi

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• I got quarters in my loafers trying to fight inflation when it only used to take a cent.

  Jimmy Buffett

  Fighting, Trying, Politics

  "Song: 'We Are The People Our Parents Warned Us About'". 1983.

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• We gotta control inflation, quit spending our money on everything. But this years tax increase, why it's the biggest in history.

  Hank Williams, Jr.

  Years, Politics, Quitting

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• Deficit spending is simply a scheme for the confiscation of wealth.

  Alan Greenspan

  Money, Gold, Wealth

  "Gold and Economic Freedom" by Alan Greenspan, www.constitution.org. 1966.

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• Right now the long-term investors are telling us that they're not as concerned about inflation and so we're seeing these rates now move into the marketplace and out to the street - rates that individuals can get.

  Franklin Raines

  Moving, Long, Individual

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• They flooded liquidity in the marketplace but the mortgage rate is based much more on expectations of inflation. So if the average investor believes that there is inflation coming, they'll move that rate up.

  Franklin Raines

  Moving, Believe, Average

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• Damn inflation, full speed ahead,' Greenspan has said in both action and word. I think an investor should believe him and invest accordingly.

  Bill Gross

  Believe, Thinking, Action

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• She [Comedy] it is who proposes the correcting of pretentiousness, of inflation, of dulness, and of the vestiges of rawness and grossness to be found among us. She is the ultimate civilizer, the polisher, a sweet cook.

  George Meredith

  Sweet, Rawness, Comedy

  George Meredith (1956). “The Egoist: A Comedy in Narrative”, p.4, Library of Alexandria

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• When women take off their corsets and heighten their skirts it always means high inflation and low morals.

  James Laver

  Women, Mean, Skirts

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• In the popular mind, if Hoyle is remembered it is as the prime mover of the discredited Steady State theory of the universe. "Everybody knows" that the rival Big Bang theory won the battle of the cosmologies, but few (not even astronomers) appreciate that the mathematical formalism of the now-favoured version of Big Bang, called inflation, is identical to Hoyle's version of the Steady State model.

  Fred Hoyle

  Appreciate, Mind, Battle

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• Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings.

  Ludwig von Mises

  Demand, Cash, Increase

  "The Free Market and Its Enemies". Ludwig von Mises' speech to the Foundation for Economic Education, 1951.

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• If this is the degree of inflation planned for in advance, the real outcome is indeed likely to be such that most of those who will retire at the end of the century will be dependent on the charity of the younger generation. And ultimately not morals but the fact that the young supply the police and the army will decide the issue: concentration camps for the aged unable to maintain themselves are likely to be the fate of an old generation whose income is entirely dependent on coercing the young.

  Friedrich August von Hayek

  Real, Fate, Army

  "The Constitution of Liberty". Book by Friedrich Hayek, Part III. Freedom in the Welfare State, Chap. 19 : Social Security, 1960.

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• The fears of recession in the aftermath of Black Monday have turned to fears of the economy racing ahead too fast, with inflation edging up and a substantial current account deficit... People understandably feel more confident about their future than they've done for decades, but as a result they have been borrowing more and saving less... Coming on top of a massive income investment boom, it's all been just a bit too much of a good thing.

  Nigel Lawson

  Monday, People, Black

  Speech to the Conservative Party Conference, October 13, 1988.

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• Hyperinflation is not going to happen in this country, will never happen... The Fed putting so much money into the system is not going to create the risk of hyperinflation in the future. We have a strong independent Federal Reserve with a very strong mandate from the Congress, and they will do what's necessary to keep inflation low and stable over time.

  Timothy Geithner

  Country, Strong, Independent

  "This Week" with George Stephanopoulos, abcnews.go.com. March 29, 2009.

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• If we discovered that, you know, space aliens were planning to attack and we needed a massive buildup to counter the space alien threat and really inflation and budget deficits took secondary place to that, this slump would be over in 18 months. ... There was a Twilight Zone episode like this in which scientists fake an alien threat in order to achieve world peace. Well, this time, we don't need it, we need it in order to get some fiscal stimulus.

  Paul Krugman

  Twilight, Order, Space

  "Paul Krugman Calls for Space Aliens to Attack Earth Requiring Massive Defense Buildup to Stimulate Economy". "Fareed Zakaria GPS", www.newsbusters.org. August 14, 2011.

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• The well-being of the British people and the health of our economy are far more important than any government's commitment to a particular strategy, but to change course now would be fatal to the whole counter-inflation strategy.

  Geoffrey Howe

  Commitment, Government, People

  "Chancellor determined not to change course in the fight against inflation". The Times, March 11, 1981.

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