The Fed should make a clear commitment to stable money to reduce the swings in interest rates and inflation. Instead, it champions and flaunts unstable money. This encourages momentum trading and the growth of derivatives. Meanwhile, layers of financial regulation make Washington bigger and more powerful but don't fix the underlying problems.
David MalpassRelated topics
clear commitment fed fix growth inflation interest meanwhile momentum money reduce regulation should stable trading underlying washington ratesRelated quotes
In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e. g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.
Murray Rothbard
Is it not the interest of the human race, that every one should be so taught and placed, that he would find his highest enjoyment to arise from the continued practice of doing all in his power to promote the well-being, and happiness, of every man, woman, and child, without regard to their class, sect, party, country or colour?
Robert Owen
Up against the corporate government, voters find themselves asked to choose between look-alike candidates from two parties vying to see who takes the marching orders from their campaign paymasters and their future employers. The money of vested interest nullifies genuine voter choice and trust.
Ralph Nader
And I want women to be modest in their appearance. They should wear decent and appropriate clothing and not draw attention to themselves by the way they fix their hair or by wearing gold or pearls or expensive clothes. For women who claim to be devoted to God should make themselves attractive by the good things they do.
Paul
An alternative "rational expectations” view denies that there is any inherent momentum in the present process of inflation. This view maintains that firms and workers have now come to expect high rates of inflation in the future and that they strike inflationary bargains in light of these expectations.
Thomas J. Sargent
