Tuesday, December 3, 2013

Inflation's Friends

"It's the story of the greatest wealth transfer in the history of the world."
--Jacob Moore (Wall Street: Money Never Sleeps)

Government: "We need (insert policy such as minimum wage laws, cost of living adjustments) because people need to keep up with inflation."

Wall Street: "You can't just keep your money in a savings account. You have to invest it in stocks and other securities in order to stay ahead of inflation."

For those people who buy into these lines of thinking, ponder these questions: How does inflation come about? Where does inflation come from?


dgeorge12358 said...

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
~John Maynard Keynes

dgeorge12358 said...

Inflation is the one form of taxation that can be imposed without legislation.
~Milton Friedman