A Quote by Kevin Brady
Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.
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Nothing disturbs me more than the downward trend of productivity in our nation today. The consequences of a decrease in productivity are a diminished standard of living, higher labor costs, less competitive prices, and more inflation.
The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.
The thought of my children growing up in an America with less freedom, less opportunity, and a lower standard of living is a long-term pain I cannot and will not bear.
Uncertainty about sales impedes business planning and could harm capital formation just as much as uncertainty about inflation can create uncertainty about relative prices and harm business planning.
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
Nobody's busting into YOUR apartment at three in the morning, are they? Well, then don't worry about what they're doing in South Korea and places like that. It's like the standard of living. Are you content to achieve your higher standard of living at the expense of people all over the world who've got a lower standard of living? Most Americans would say yes. Now we ask the question, are you content to enjoy your political freedom at the expense of people who are less free? I think they would also say yes.
The system is not intended as a substitute for private savings, pension plans, and insurance protection. It is, rather, intended as the foundation upon which these other forms of protection can be soundly built. Thus, the individual's own work, his planning and his thrift will bring him a higher standard of living upon his retirement, or his family a higher standard of living in the event of his death, than would otherwise be the case. Hence the system both encourages thrift and self-reliance, and helps to prevent destitution in our national life.
Declining productivity and quality means your unit production costs stay high but you don't have as much to sell. Your workers don't want to be paid less, so to maintain profits, you increase your prices. That's inflation.
Lower interest rates are usually considered good for stocks because they lower the cost of borrowing and make bonds a less attractive alternative investment.
What we have to be careful is that if we drop interest rates where the rate of interest is lower than inflation, then savers will not put money in financial savings and move it to gold and real estate, which is bad for India.
A strong currency means that American consumers and businesses can buy imported goods and services more cheaply and that inflation and interest rates will be lower, ... It also puts pressure on American industry to increase productivity and competitiveness. These benefits can feed on themselves as foreign capital flows in more readily because of greater confidence in our currency. A weak dollar would have the contrary effects.
I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
There are winners and there are losers. And as much as we would like to help the losers, if we do it in the way that directs the limited capital of the society to support the low-productivity parts of the economy, it means that the rest of the economy - our overall standard of living - will not rise as much as it could.
By increasing productivity and becoming more competitive, we will be able to offer better opportunities and improve the standard of living for all Mexicans.
In a free enterprise system, with an honest and stable money, there is dominantly a close link between effort and productivity, on the one hand, and economic reward on the other. Inflation severs this link. Reward comes to depend less and less on effort and production, and more and more on successful gambling and luck.
Efforts to preserve all industries will lower the national standard of living.
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