Inflation Quotes
This page contains a collection of quotes about inflation from various notable figures. Some of the key points made in the quotes include:
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- Inflation acts as a hidden tax that decreases the purchasing power of money over time.
- Governments can use inflation to secretly confiscate citizens’ wealth.
- Continual inflation can lead to higher costs of living, unemployment, and harm those who have saved money.
- Investors need to ensure their assets grow faster than the rate of inflation to maintain their purchasing power.
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation” — Vladimir Lenin
Lenin’s quote suggests inflation can be used as a tool to redistribute wealth from the wealthy.
“When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident” — Ronald Reagan
Reagan’s quote frames inflation as a hidden tax.
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“Government has no wealth, and when a politician promises to give you something for nothing, he must first confiscate that wealth from you — either by direct taxes, or by the cruelly indirect tax of inflation” — John Wayne
John Wayne’s quote warns of the dangers of politicians promising benefits without cost.
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“The inflation that comes inevitably with government pump-priming soon catches up with the laborer, wipes away any real increase in his wages, discourages private investment, and sets off a new deflationary spiral which can in turn only be counteracted by more coercive and paternalistic government policies” — William F. Buckley Jr.
Buckley’s quote ties inflation to bigger government and economic downturns.
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“Inflation is a form of tax, a tax that we all collectively must pay” — Henry Hazlitt
Hazlitt’s quote emphasizes inflation impacts everyone.
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“You have to include inflation in your annual revenue and expense forecasts. You have to treat inflation as an annual fee your business pays into the economy. If inflation is 2% for example, that means the economy is charging your business a 2% annual fee and so you gotta make sure your income and total assets grow at minimum 2% annually just to keep up” — Hendrith Vanlon Smith Jr
Hendrith Vanlon Smith Jr.’s quote stresses accounting for inflation in business planning.
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“It’s important to always keep the business’ assets growing. Inflation will make sure that expenses grow, so each business needs to make sure that it’s assets are growing to at least compensate for those inflationary pressures” — Hendrith Smith
Hendrith Vanlon Smith Jr.’s quote advises businesses to account for inflation in their annual budgets to ensure revenues outpace rising costs.
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“Inflation is taxation without legislation” — Milton Friedman
Milton Friedman’s quote characterizes inflation as a tax without representation.
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“What is it that happens in an inflation? The unit of money suddenly loses its identity. The crowd it is part of starts growing and, the larger it becomes, the smaller becomes the worth of each unit. The millions one always wanted are suddenly there in one’s hand, but they are no longer millions in fact, but only in name” — Elias Canetti
Elias Canetti’s quote describes the psychological impact of inflation.
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“Inflation consists of subsidizing expenditures that give no returns with money that does not exist” — Jacques Rueff
Jacques Rueff’s quote ties inflation to spending without returns.
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If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs — Thomas Jefferson
Thomas Jefferson’s quote warns of private banks controlling currency.
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“Seigniorage finance of fiscal deficits is often known as ‘the printing press.’ In a sense, money is the root of all inflationary evil. It helps to understand why inflation bursts out here and there periodically” — Michael Connolly
Michael Connolly’s quote ties inflation to monetary policy.
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“Inflation hasn’t ruined everything. A dime can still be used as a screwdriver” — H Jackson Brown Jr.
H Jackson Brown Jr. joked that a dime can still be used as a screwdriver despite inflation.
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H Jackson Brown Jr.’s quote suggests inflation doesn’t destroy everything as currency still functions as a screwdriver.
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“Arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislature. The inflation tax has a fantastic ability to simply consume capital” — Warren Buffett
Warren Buffett’s quote warns inflation can consume capital more than taxes.
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“Inflation, no chance, To increase finance. Bills pile up sky high. Send that boy off to die” — Marvin Gaye
Marvin Gaye’s quote ties inflation and deficit spending to conflict and loss of life.
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“Inflation is what happens when we give money to poor people. But prosperity is what happens when we give money to rich people. Thank you for understanding how ‘the economy’ works, peasants” — Holly @girlziplocked
Holly @girlziplocked’s quote satirizes perceptions of how economic policies impact different groups.
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“Let’s be clear: inflation is being driven in large part by monopolies that are driving up prices for the sake of profit” — Robert Reich
Robert Reich’s quote argues corporate profits, not overall demand, drive current inflation.
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“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens” — John Maynard Keynes
John Maynard Keynes’ quote characterizes inflation as a means for governments to secretly tax citizens.
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“If inflation continues to soar, you’re going to have to work like a dog just to live like one” — George Gobel
George Gobel’s quote warns high inflation will require extensive work just to maintain a basic standard of living.
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“Bankers know that history is inflationary and that money is the last thing a wise man will hoard” — Will Durant
Will Durant’s quote counsels against hoarding money due to its eroding value over time.
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“Inflation is the parent of unemployment and the unseen robber of those who have saved” — Margaret Thatcher
Margaret Thatcher highlighted how inflation can undermine the savings of those relying on fixed incomes.
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“Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won’t grow any faster than the rate of inflation” — Suze Orman
Suze Orman’s quote advises diversifying beyond bonds to outpace inflation.
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