A Quote by Urjit Patel
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.
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We have been mandated by the government, backed by legislation, that we have to have an inflation target of about 4%.
Why should a city be mandated to do something by the federal government or state government without the money to do it?
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.
Within you there are thousands of rings of luminosity, bands, and each one is a universe of perception. In the average person's lifetime, they might just open up two or three, maybe four of those bands.
They say, oh, let’s have multiparty politics. Let’s have different parties change and be in charge of the Government. Is it that simple? You vote in a Division Three government, not a Division One government, and the whole economy will just subside within three, four years. Finished.
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.
But the federal government, our collective government, has responsibilities that none of these other levels of government can fulfill; and chief among these is national defense.
The Government's power to censor the press was abolished so that the press would remain forever free to censure the Government. The press was protected so that it could bare the secrets of government and inform the people. Only a free and unrestrained press can effectively expose deception in government.
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 government does, occasionally, work, it works in an elitist fashion. That is, government is most easily manipulated by people who have money and power already. This is why government benefits usually go to people who don't need benefits from government. Government may make some environmental improvements, but these will be improvements for rich bird-watchers. And no one in government will remember that when poor people go bird-watching they do it at Kentucky Fried Chicken.
Those who cry out that the government should 'do something' never even ask for data on what has actually happened when the government did something, compared to what actually happened when the government did nothing.
It's businesses versus big government. We don't need big government. We need a more efficient, lean government, and that's exactly the kind of government we intend to deliver.
When I said during my presidential bid that I would only bring Christians and Jews into the government, I hit a firestorm. `What do you mean?' the media challenged me. `You're not going to bring atheists into the government? How dare you maintain that those who believe in the Judeo-Christian values are better qualified to govern America than Hindus and Muslims?' My simple answer is, `Yes, they are.'
When government gets too big, freedom is lost. Government is supposed to be the servant. But when a government can tax the people with no limit or restraint on what the government can take, then the government has become the master.
On human rights, civil rights and environmental quality, I consider myself to be very liberal. On the management of government, on openness of government, on strengthening individual liberties and local levels of government, I consider myself a conservative. And I don't see that the two attitudes are incompatible.
The three great ends which a statesman ought to propose to himself in the government of a nation, are one, Security to possessors; two, facility to acquirers; and three, hope to all.
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