Wednesday, Aug 11, 2010
The year 2000 interview with Paul Volker
PBS: Interview with Paul Volker
Quotes:
[what happens then [is] you get a little bit of inflation, and then you need a little more because it props up the economy. People get used to it, and it loses its effectiveness. Like an antibiotic, you need a new one; ]
[You begin expecting it, and you get it, because wage earners will want more wages, and businessmen will put the prices up because they think they can sustain it, ]
[The issue of money is a governmental responsibility predominantly, and to use that authority in a way that leads to inflation is a system that fools a lot of people, and to keep fooling them you have to do it more and more; [that] is a moral issue. I put myself in that camp.]
Posted by easybetman @ 10:13 PM (466 views) Add Comment
5 Comments
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1. Stevie Dee said...
It sounds like drug addiction. Is the fed actually getting high on its own supply? The only people being fooled are the twirp's running the financial show. We truly live in interesting times.
2. Stevie Dee said...
Gentleman, we have won the argument vis-a-vis corruption, economic incompetence. The destruction of values and the well-being of society. I'm privileged as you are, to have the intelligent foresight to see beyond the bull-shit. It is now for intelligent, the capable, to look towards a positive outlook and making a positive contribution, is we are all interdependent. The politicians have let the people down, therefore we should show compassion and remorse for the weak. This is a very serious situation. We all need to act responsibly and be positively productive in our communities. Winning is nice, but we all have an obligation, a duty, to respect less knowledgeable people within our society.
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5. rumble said...
"We all need to act responsibly and be positively productive in our communities." -- Communities? Where do you live?
"show compassion and remorse for the weak...we all have an obligation, a duty, to respect less knowledgeable people within our society" -- I'm not really following you.