A Quote by Jean Cocteau
See your disappointments as good fortune. One plan's deflation is another's inflation.
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Deflation isn't good, and inflation is easier to cure than deflation.
With QE3, we are essentially being bought out with our own money...and unemployment is being used to facilitate this process in a very clever manner. Monetary inflation is currently being offset by labor deflation. The way you avoid collapse is by printing money and stealing assets. The way you avoid inflation is with labor deflation.
When they say inflation is bad, deflation is good, what they mean is, more money for us 1% is good; we're all for asset price inflation, we're all for housing prices going up, and we're all for our stock and bonds prices going up. We're just against you workers getting more income.
Near-zero policy rates that may be considerably expansionary in an economy with high inflation could be contractionary when inflation is too close to zero, or worse, deflation has set in.
If inflation is the genie, then deflation is the ogre that must be fought decisively.
The real problem is deflation. That is the opposite of inflation but equally serious to the borrower.
No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.
Our purpose is to lean against the winds of deflation or inflation, whichever way they are blowing.
That's what courage is. Taking your disappointments and your failures, your guilt and your shame, all the wounds received and inflicted, and sinking them in the past. Starting again. Damning yesterday and facing tomorrow with your head held high. Times change. It's those that see it coming, and plan for it, and change themselves to suit, that prosper.
The entire political class and ruling Wall Street class are zero-percent-interest zombies who talk about 'deflation' in the value of their second, third, and fourth homes. This is paper-deflation, zombie-deflation, and has nothing to do with the real economy.
I was once a fortunate man but at some point fortune abandoned me. But true good fortune is what you make for yourself. Good fortune: good character, good intentions, and good actions.
Significant changes in the growth rate of money supply, even small ones, impact the financial markets first. Then, they impact changes in the real economy, usually in six to nine months, but in a range of three to 18 months. Usually in about two years in the US, they correlate with changes in the rate of inflation or deflation."
"The leads are long and variable, though the more inflation a society has experienced, history shows, the shorter the time lead will be between a change in money supply growth and the subsequent change in inflation.
Plan your hours to be productive...Plan your weeks to be educational...Plan your years to be purposeful. Plan your life to be an experience of growth. Plan to change. Plan to grow.
Ambition has its disappointments to sour us, but never the good fortune to satisfy us.
How you experience your life depends on how you look at it. If you look at it as a constant stream of difficulties and challenges, messes and problems, it will show up that way. If, on the other hand, you see it as a continuing flow of good fortune, one good thing after another, that is what you will encounter.
Despite the recent conviction of many that we're headed back to inflation, I think deflation remains the more likely prospect. You've just got too much excess capacity in the world.
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