Andrew Scheer Quotes

The stagflation of the 1970s blessed us with damaging wage and price controls and the utterly counterintuitive supply-side notion - famously drawn on a napkin - that cutting taxes would lead to higher tax revenues.

Certainly, 9 percent unemployment and very slow growth is not a good situation.

My decision to leave applied mathematics for economics was in part tied to the widely-held popular belief in the 1960s that macroeconomics had made fundamental inroads into controlling business cycles and stopping dysfunctional unemployment and inflation.

The harsh truth is that if the policy isn’t hurting it isn’t working. I know there is a difficult period ahead but the important thing is that we cannot and must not fudge the determination to stop inflation in its tracks.

From now on, depressions will be scientifically created.

Gerald Ford's economics is the worst thing that's happened to this country since pantyhose ruined finger-fucking.

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

Under Reagan's policies, inflation and nominal GNP growth shriveled much faster than predicted, throwing off government revenue estimates and resulting in budget deficits.

The human capital of most macroeconomists, heavily invested in demand management, was wiped out by the policy failures of the 1970s.

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 is a fact that, if I single out Germany, our rate of growth is too low and we have very high unemployment.

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.

We will not play with inflation. We are living a delicate moment. President Obama spoke to me today about the high unemployment affecting the United States. In this crisis period, when the developed nations are not recovering, it's prudent to maintain the established inflation target.

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

Prices are going up. Unemployment continues to go up. And we have not had the necessary correction for the financial bubble created by our Federal Reserve system.

We're facing a natural disaster in the middle of an economic disaster. The federal government has to balance its budget the way our families do.

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.

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.

The reality for us in America is that we will never get out of debt with more than 15 million people out of work.

We are having the single worst recovery the U.S. has had since the Great Depression. I don't care how you measure it. The East Coast knows it. The West Coast knows it. North, South, old, young, everyone knows it's the worst recovery since the Great Depression.

We know that inflation distorts economic behavior. In the 1970s, a combination of high tax rates and inflation prompted investors to flee production in favor of protection.

We think if the economy remains weak that we could see mortgage rates trail down and we think that we could see rates below seven percent into early next year.

How much would you pay to avoid a second Depression?

Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.

This economy is not getting better and the president's policies are the reason.