Inflation Quotes - Page 9

• If grade inflation continues, a college bachelor's degree will have just as much credibility as a high school diploma.

  Walter E. Williams

  School, College, Degrees

  Walter E. Williams (2015). “American Contempt for Liberty”, p.208, Hoover Institution Press

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• In essence, the stock market represents three separate categories of business. They are, adjusted for inflation, those with shrinking intrinsic value, those with approximately stable intrinsic value, and those with steadily growing intrinsic value. The preference, always, would be to buy a long-term franchise at a substantial discount from growing intrinsic value.

  Michael Burry

  Essence, Long, Would Be

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• Government intervention in the economy - through taxes, regulation and, most importantly, currency inflation - causes distortions and misallocations of capital that must eventually be unwound. The distortions degrade the general standard of living, and the economy goes into a recession (call that an incomplete cleansing). Or it goes into a depression - wherein the entire sickly structure comes unglued.

  Doug Casey

  Government, Regulation, Cleansing

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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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• A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation.

  James Rickards

  Hard Work, Gold, Information

  James Rickards (2014). “The Death of Money: The Coming Collapse of the International Monetary System”, p.156, Penguin

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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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• 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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• 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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• 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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• 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 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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• 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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• The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.

  Naomi Klein

  Games, Expectations, Roles

  "The Shock Doctrine: The Rise of Disaster Capitalism". Book by Naomi Klein, 2007.

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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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• 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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• 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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• 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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• 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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• 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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• 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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• If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.

  William Vickrey

  Years, Would Be, Unemployment

  William Spencer Vickrey (2004). “Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey”, Edward Elgar Pub

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• Much of American wealth is an illusion which is being secretly gnawed away and much of it will be completely wiped out in the near future....So what is the rest of your future? A grisly list of unpleasant events -- exploding inflation, price controls, erosion of your savings (eventually to nothing), a collapse of private as well as government pension programs, and eventually an international monetary holocaust which will sweep all paper currencies down the drain and turn the world upside down.

  Howard Ruff

  Erosion, Government, Holocaust

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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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• 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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