A Quote by Peter Schiff
Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen house, has many reasons to be disingenuous. As the world's largest debtor, the Federal Government is inflation's primary beneficiary.
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Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy.
When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident.
The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be true that it's easier for the central bank to guard its independence from political pressure when it mainly holds government securities.
I'd love to have a president who really was out there leading and traveling around the world campaigning for joint climate change action. Even the Chinese government is trying to get people to stop polluting. And I think the federal government level in China is acting more responsibly than the American government.
We have reached a moment in our history where we think that every problem in America has to have a federal government solution. Every problem in America does not have a federal government solution. In fact, most problems in America do not have a federal government solution and many of them are created by the federal government to begin with.
The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.
If, for example, existing government intervention is minor, we shall attach a smaller weight to the negative effect of additional government intervention. This is an important reason why many earlier liberals, like Henry Simons, writing at a time when government was small by today's standards, were willing to have government undertake activities that today's liberals would not accept now that government has become so overgrown.
I think democracies are prone to inflation because politicians will naturally spend [excessively] - they have the power to print money and will use money to get votes. If you look at inflation under the Roman Empire, with absolute rulers, they had much greater inflation, so we don't set the record. It happens over the long-term under any form of government.
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.
Inflationary trends are under way. Wage increases, through strikes or threatened strikes, are rampant. Government expenditures are ballooning ominously. Hoarding has contributed unconscionably to price-boosting. The Government should institute measures calculated to arrest inflation. America's commitments are already so mountainous, international and domestic, that the pruning knife should be applied. You and I, all American taxpayers, don't possess limitless resources-our pockets are not bottomless. Curb inflation at every turn!
Every year the Federal Government wastes billions of dollars as a result of overpayments of government agencies, misuse of government credit cards, abuse of the Federal entitlement programs, and the mismanagement of the Federal bureaucracy.
The most important thing the federal government can do is actually sit down with municipal leaders and provincial premiers to talk about the challenges they're facing in their particular areas. That's something I've committed to being a much better partner on than this current government, which doesn't like to talk to other levels of government.
The idea that the largest banks in the world would simultaneously fail, need government support, government guarantees, and/or government intervention to survive was not in my range of realistic scenarios.
Because it is a monopoly, government brings inefficiency and stagnation to most things it runs; government agencies pursue the inflation of their budgets rather than the service of their customers; pressure groups form an unholy alliance with agencies to extract more money from taxpayers for their members. Yet despite all this, most clever people still call for government to run more things and assume that if it did so, it would somehow be more perfect, more selfless, next time.
The worst thing the federal government could do is to increase the size, reach and cost of government. If government failed in its response to the hurricane, the answer is not more inefficient government.
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