A Quote by Peter Schiff
Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.
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Making money is a common sense. It's not rocket science. But unfortunately, when it comes to money, common sense is uncommon.
Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one.
What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
Common sense … has the very curious property of being more correct retrospectively than prospectively. It seems to me that one of the principal criteria to be applied to successful science is that its results are almost always obvious retrospectively; unfortunately, they seldom are prospectively. Common sense provides a kind of ultimate validation after science has completed its work; it seldom anticipates what science is going to discover.
Anyone who has studied the history of technology knows that technological change is always a Faustian bargain: Technology giveth and technology taketh away, and not always in equal measure. A new technology sometimes creates more than it destroys. Sometimes, it destroys more than it creates. But it is never one-sided. The invention of the printing press is an excellent example. Printing fostered the modern idea of individuality but it destroyed the medieval sense of community and social integration.
Academic Marxism is a fantasy world, and unctuous compassion-sweepstakes, into which real workers or peasants never penetrate.
I know that my music is heard a lot in commercial circles. In academia, I think my music is taken in differently but I'm not sure why that is. Some kind of sixth sense tells me that people in that world are thinking differently about it. I don't know if it has to do with the structure of my music, which is probably more apparent to those in the academic world than it is in the commercial world, where people tend not to think of that aspect of music so much. They just listen for pure enjoyment.
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.
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.
I took art courses, only in the sense that I was able to - I took art classes, which were fun, which I liked, but it was a - just a kind of a general education that I got, a regular academic - academic diploma, but I kind of had the feeling that art was something that I really liked the most but I wasn't really sure that that was it.
I am thoughtful about introducing terms that tend to be in circulation primarily in academic circles. "Homonormativity" and "homonationalism" are by no means solely academic terms, and in fact circulate in important ways in many activist circles, but in general I find them to be terms that most people I meet are not familiar with.
Common sense is the guy who tells you that you ought to have had your brakes relined last week before you smashed a front end this week. Common sense is the Monday morning quarterback who could have won the ball game if he had been on the team. But he never is. He's high up in the stands with a flask on his hip. Common sense is the little man in a grey suit who never makes a mistake in addition. But it's always someone else's money he's adding up.
Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed.
Common sense is not something rigid and stationary, but is in continuous transformation, becoming enriched with scientific notions and philosophical opinions that have entered into common circulation. 'Common sense' is the folklore of philosophy and always stands midway between folklore proper (folklore as it is normally understood) and the philosophy, science, and economics of the scientists. Common sense creates the folklore of the future, a relatively rigidified phase of popular knowledge in a given time and place.
I think that's one of the major overriding issues of the day, to deal with frivolous lawsuits. I think it creates a tremendous burden on our economy, a tremendous burden on health care, it creates all of this medicine, which is good medicine. It would be one of the most important things we could do. It, also would help the economy. A tremendous amount of money is taken out of our economy and a tremendous that is created by these frivolous lawsuits.
Images proliferate. Am I wrong in being reminded of printing money in a period of wild inflation? Do we know what we are doing? Are we able to evaluate what we have done?
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