Posts Tagged ‘goods’

Charlie Munger: Inflation Silly Needs

Posted by admin on Wednesday, November 30, 2022

Meaning of Charlie Munger Money Quote: saying a defense against inflation is not needing material silly stuff in your life. Charlie Munger said:
 
Worried about inflation - not have a lot of silly needs in your life – you don’t need a lot of material goods Quote
 

“One of the great defenses if you’re worried about inflation is not to have a lot of silly needs in your life – you don’t need a lot of material goods” — Charlie Munger

 

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This quote from Charlie Munger is advising that having fewer material possessions and needs can help protect against the effects of inflation. Munger is suggesting that by not constantly wanting or needing the latest goods, your cost of living will not rise as quickly when prices increase.

Having a more minimal lifestyle focused on essentials rather than excess will make your expenses less vulnerable to inflation. The “great defense” Munger refers to is maintaining a simple lifestyle with fewer material wants, as this insulates your spending from price increases across the economy.

Ron Insana: Panflation Price Hikes

Posted by admin on Thursday, October 14, 2021

Ron Insana Money Quote saying that price increases are being caused by the pandemic due to the disruption and distortion of markets. Ron Insana said:
 
We have solid growth and 'panflation,' price hikes that are induced by a global pandemic that has disrupted supply chains around the world Quote
 

“We have solid growth and ‘panflation,’ price hikes that are induced by a global pandemic that has disrupted supply chains around the world, greatly distorted global labor markets amid uneven demand for specific goods and services” — Ron Insana

 

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Ron Insana is describing the current economic situation of “solid growth” but also “panflation”, which refers to price hikes that are occurring due to disruptions from the global pandemic. Specifically, the pandemic has disrupted global supply chains and distorted labor markets by creating uneven demand for certain goods and services.

This has led to rising prices in many sectors as supply struggles to keep up with changing patterns of demand amid the pandemic. In summary, he is noting that while the economy is growing, inflation is also being driven higher by specific pandemic-related factors affecting supplies, shipping, and labor availability in a uneven way across industries.

Michel Eyquem de Montaigne: Mind Poverty

Posted by admin on Tuesday, June 9, 2020

Michel Eyquem de Montaigne Money Quote saying lack of ideas or vision are worse than lack of money. Michel Eyquem de Montaigne said:
 
Poverty of goods is easily cured; poverty of the mind is irreparable Quote
 

Poverty of goods is easily cured; poverty of the mind is irreparable” — Michel Eyquem de Montaigne

 

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Basil of Caesarea: Rich Right of Preemption

Posted by admin on Sunday, July 17, 2016

Basil of Caesarea Money Quote saying the rich take what they wish a claim they own it simply because they have possession. Basil of Caesarea said:
 
rich do. They seize common goods before others have the opportunity, then claim them as their own by right of preemption Quote
 

“This is what the rich do. They seize common goods before others have the opportunity, then claim them as their own by right of preemption” — Basil of Caesarea

 

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In this quote, St. Basil of Caesarea is criticizing how the wealthy acquire and accumulate resources. The best interpretation is:

  • St. Basil observed that rich individuals would quickly lay claim to valuable common assets, goods or opportunities before others had a fair chance.
  • By being first and fastest to seize such things meant for public/community use and benefit, the rich would then assert that these things rightfully belonged to them through “preemption” or prior appropriation.
  • St. Basil saw this as an unjust means for the advantaged to monopolize prospects and increase their wealth at the expense of others having a fair opportunity.
  • The overall message is one of social justice – St. Basil believed the wealthy unfairly exploited their advantage and speed to corner benefits that should be available to all, not just those able to outcompete others through preemptive actions alone.

Ayn Rand: Producing Goods

Posted by admin on Monday, June 13, 2011

Ayn Rand Money Quotation saying cash represents energy and effort expended to produce value by those committed to that end, to being useful. Ayn Rand said:
 
Money is a tool of exchange, which can't exist unless there are goods produced and men able to produce them Quote
 

Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them” — Ayn Rand

 

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In this quote, Ayn Rand is emphasizing the relationship between production, goods, and the ability to use money as a medium of exchange. She is saying that money only has value and purpose in an economy where real goods and services are being produced. If there is nothing being created, and no people or machines capable of creating things of worth, then there would be no point to money as it would have nothing to represent in terms of value.

Rand viewed money as a tool that emerges from and depends on the real productive efforts of individuals, businesses, and economies to invent, build, grow or provide useful things that enhance human life. So for her, the existence of money itself is reliant on the prior existence of production and a capacity for creation of goods in society.

Ludwig von Mises: Economic War Boom

Posted by admin on Saturday, February 5, 2011

Ludwig von Mises Money Quotation saying prosperity from war comes at the expense of the destruction of property and lives of battleground countries. Ludwig von Mises said:
 
War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods Quote
 

“War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods” — Ludwig von Mises

 

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In this quote, Ludwig von Mises is arguing that war does not directly cause economic growth or a “boom”. His view is that destruction of goods through war does not increase wealth or the overall economy.

While war often leads to increased government spending and production of weapons, according to Mises this does not make up for the loss of goods, capital, and resources destroyed in the conflict.

His interpretation is that war can only harm economic activity by destroying existing wealth in the form of property and infrastructure, rather than creating new wealth through increased production and spending.

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