Jack Kemp Quotes

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.

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

Inflation is not always the main problem, or indeed a problem at all. Sometimes, though rarely, deflation is a more serious threat, and we need to shelve many of the orthodoxies we have held so dear.

It was the biggest inflation and the most sustained inflation that the United States had ever had.

Deflation is defined as a general decline in prices, with emphasis on the word 'general.'

Inflation is the crabgrass in your savings.

I think that this is the most significant financial crisis in the post-War period for the United States, and it has in fact a global reach.... I think it is extraordinarily important to understand that, as we have seen in many previous examples of different countries and different times, choking up of credit is like taking the lifeblood away from the economy.

The way you create deflation is you create an asset bubble.

Americans have seen the value of the dollar slowly decline due to the steady erosion of inflation.

Fiscal crises often turn into financial crises, dealing a blow to the real economy.

Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.

Deflation isn't good, and inflation is easier to cure than deflation.

Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.

Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.

During the past two decades, inflation has fallen to a low level in major industrial countries.

Total borrowing has imploded. Private borrowing has collapsed. And, in effect, the Treasury Department is the last borrower left standing.

Sector-specific price declines, uncomfortable as they may be for producers in that sector, are generally not a problem for the economy as a whole and do not constitute deflation.

Should that worse scenario materialize, then most probably our propensity to increase interest rates will be weaker.

The Nasdaq bubble and crash were followed by the real estate bubble then subprime crash, which led to the unprecedented printing of trillions of dollars in an attempt to prevent a global depression.

For me, there will be no enemies but unemployment, the deficit, excessive debt, economic stagnation and anything else that keeps our country in these critical circumstances.

It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.

People forget how difficult it is to stop inflation or get it under control… I worry about it all the time.

There's no such thing as a painless cure for inflation.

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

If one wants to avoid the recurrence of economic crises, one must avoid the expansion of credit that creates the boom and inevitably leads into the slump.