Quotes

"Fascism and communism both promise "social welfare," "social justice," and "fairness" to justify authoritarian means and extensive arbitrary and discretionary governmental powers." - F. A. Hayek"

"Life is a Bungling process and in no way educational." in James M. Cain

Jean Giraudoux who first said, “Only the mediocre are always at their best.”

If you have ten thousand regulations, you destroy all respect for the law. Sir Winston Churchill

"summum ius summa iniuria" ("More laws, more injustice.") Cicero

As Christopher Hitchens once put it, “The essence of tyranny is not iron law; it is capricious law.”

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan

"Law is where you buy it." Raymond Chandler

"Why did God make so many damn fools and Democrats?" Clarence Day

"If I feel like feeding squirrels to the nuts, this is the place for it." - Cluny Brown

"Oh, pshaw! When yu' can't have what you choose, yu' just choose what you have." Owen Wister "The Virginian"

Oscar Wilde said about the death scene in Little Nell, you would have to have a heart of stone not to laugh.

Thomas More's definition of government as "a conspiracy of rich men procuring their own commodities under the name and title of a commonwealth.” ~ Winston S. Churchill, A History of the English Speaking Peoples

“Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through.” ~ Jonathon Swift

Thursday, November 10, 2011

Maybe Goldman does Rule the World... Or at least has the Genies -Goldman Idea Could Let Inflation Out of the Bottle

Goldman Idea Could Let Inflation Out of the Bottle: Amity Shlaes - Bloomberg
By Amity Shlaes Nov 2, 2011

There are bad ideas, and there’s the proposal that economists fromGoldman Sachs Group Inc. (GS) released Oct. 14. They suggestedthat the Federal Reserve Board target a nominal gross-domestic-product growth rate of 4.5 percent to decide how much money to inject into the economy. The econo- speak name for this practice is “NGDP targeting.” The question is whether that unlovely abbreviation makes it into mainstream English and becomes policy.

In practice, NGDP targeting means the Fed will create money by a variety of methods, such as purchasing bonds, until the U.S. growth rate hits the magic level on paper. The extra money pours into the hands of consumers and companies, who spend. Voila: 4.5 percent growth.

The “on paper” part is important. “Nominal” means the Fed may disregard, at least for the moment, what share of that growth is real and what share is inflation.

-read on at above link-

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)