A Quote by Toshihiko Fukui
During the past two decades, inflation has fallen to a low level in major industrial countries.
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The industrial world enjoys a rare combination of growth and low inflation; the 'Washington consensus,' a model of economic development that emphasizes macroeconomic discipline and open markets, is being adopted by more countries.
During the 1960s, and again in the 1970s, growth in manufacturing productivity in the United Kingdom was the lowest of all the seven major industrial countries in the world. During the 1980s, our annual rate of growth of output per head in manufacturing has been the highest of all the seven major industrial countries.
Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.
Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
The United States has experienced high rates of inflation in the past and appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century.
Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.
Because food and energy prices are volatile, it is often helpful to look at inflation excluding those two categories - known as core inflation - which is typically a better indicator of future overall inflation than recent readings of headline inflation.
The unique aspect of today's monetary inflation is that it is not limited to one country, but a host of countries are all inflating together. As a result of the monetary inflation (when all of the newly created money begins to leave the banks and enter the system), the price inflation will be worldwide.
Americans of all ages are earning less than they did two decades ago when adjusted for inflation. Yet they’re paying more in taxes.
The wind industry has made major strides over the past two decades, and they have proven their industry to be efficient and self-sustainable. There is no need for the taxpayer to continue to subsidize a wind start-up tax credit.
The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.
If the level and amount of consumption and waste of the western rich countries ever reaches the poor countries, it will mean the end of humanity. The big world corporations are busy doing it...The production, selling, consumption, accumulation, wastes' and advertisement explosions in the western rich countries and the continued population explosion in the poor countries will turn into major catastrophes.
Other countries have been taking advantage of America for decades - decades, and decades, and decades, folks. And we're not going to let that happen anymore. Not going to let it happen.
If you look around the world and see all the different countries struggling to get away from very low inflation rates with economies not nearly as strong as ours, you want to make sure we avoid those circumstances.
In the United States, after World War II, it took about two decades for the message to slowly seep in that inflation was going to be a permanent fact of the American way of life.
The Atomic Age was born in secrecy, and for two decades after Hiroshima, the high priests of the cult of the atom concealed vital information about the risks to human health posed by radiation. Dr. Alice Stewart, an audacious and insightful medical researcher, was one of the first experts to alert the world to the dangers of low-level radiation.
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