Zim: Not too long ago in this forum was posted
something attributed to a harvard dignitary . . .
Something about the turd thought high inflation might
be a good thing . . . (But WE know better. High
inflation is a BAD thing.)
http://finance.yahoo.com/blogs/daniel-gross/pessimistic-consumers-fears-high-inflation-exaggerated-160554393.html
Are Pessimistic Consumers’ Fears of High Inflation Exaggerated?
Buried at the bottom of August's disappointing Conference Board consumer confidence report is a troubling nugget. Consumers expect inflation of 5.8 percent for the coming 12 months.
That dire projection, which could help explain consumers' sour mood, is much higher than the prediction of the professional forecasters surveyed by the Philadelphia Fed. They see inflation of about 2 percent over the next four quarters. And it's much higher than the Federal Reserve's forecast. As Fed Chairman Ben Bernanke said in his speech last week, "we expect inflation to settle, over coming quarters, at levels at or below the rate of 2 percent, or a bit less."
. . . . .
Here's the irony. Many experts believe that a higher level of inflation would be helpful given the macroeconomic circumstances — low interest rates, slow growth, high levels of debt. Economists like Harvard's Kenneth Rogoff, co-author of This Time is Different, have called for the Federal Reserve to target "moderate inflation of, say, 4 to 6 percent, for several years." Actual inflation — an interaction of rising prices and rising wages — makes it easier for people and companies to pay down fixed-rate debt. It also encourages businesses and consumers to spend now, rather than later.
>>>>
Zim: Look. I do not care what numb nutzed idiots
form harvard think or claim. High inflation is NOT
good. It is, in fact, bald faced theft from folks
who have been frugal and saved for their golden
years.
Should Grandma, with her arthritic knees, have to go
back to work scrubbing floors because her savings ran
out due to high inflation?
Or, perhaps you would like to have YOUR retirement
nest egg stolen to provide for every body elses
Grandma . . . and when your turn to retire comes
along, and your kids revolt at the thought of their
paychecks and retirement funds being stolen . . .
Are you gonna be willing to scrub floors on your
arthritic knees?
Trust me, high inflation is BAD.
And, policymakers who think it might be good need
to be taken out and shot.
Zim.
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