Howard Baker Quotes

I am pretty sure central banks will continue to print money, and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase.

When you get inflation, you get massive distortions of the economy.

One day we will have more inflation, and our bonds will bleed like a pig. The only reason for buying long bonds is short-term or as a desperate haven for terrorized investors. But the potential to make longer-term real money is naught.

Low interest rates are a big opportunity for investment. But the issue is that this money should go to the real economy, not the financial economy.

With the shrinking of the US economy, and it's shrinking very rapidly, you not only have more money, but you also have fewer goods. That's a classic double-whammy on inflation.

A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits.

If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.

If stocks double but the dollar loses half its value, who beyond Wall Street are the winners and losers?

The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before.

Presidential money is almost like the housing bubble. It's growing at such an astronomical rate, you think it can't get any bigger.

What we're talking about is the price of goods, all goods, in terms of money. That has nothing to do with unemployment, except for the fact that you get fewer goods. And when you have more money and fewer goods, the amount of dollars per good goes up. It goes up because there are fewer goods and it goes up because there is more money.

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.

Wall Street is populated by a bunch of people whose primary goal is to make money, and the rules are pretty much caveat emptor.

Until we apply terror to speculators --- shooting on the spot --- we won’t get anywhere.

Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks… The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over. This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government.

Inflation eats away at ties that bind us together as a people.

High interest rates are the cruelest taxes of all.

Credit is of pernicious consequence to that Nation, that uses or encourages it beyond Nature.

I am as much opposed as any member here to worthless money, to depreciated money, but unquestionably it is the interest of the great mass of our people that we should have cheap money and dear property; I do not mean worthless money, but I mean cheap money as compared with the property which it buys. Property is held by the many and money by the few.

In the United States, after World War II, it took about two decades for the message to slowly seep in that inflation was going to be a permanent fact of the American way of life.

Nobody likes high interest rates.

Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.

The entire political class and ruling Wall Street class are zero-percent-interest zombies who talk about 'deflation' in the value of their second, third, and fourth homes. This is paper-deflation, zombie-deflation, and has nothing to do with the real economy.

The rise in the price of gold is a sign that capitalism has stumbled.

Ask me whether inflation represents longer-term problem. I think there's a potential there for excess reserves to create problems.