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I think the inflation prospects for the u.s. over the next five or six, seven years, are quite serious. you cannot have a bumper crop in apples without the value or the price of each apple falling. the fed has had the largest increase in the monetary base in the history of the u.s., from colonial times to the present, times ten.
-Arthur Laffer
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I Think The Inflation Prospects For The

Arthur Laffer
I think the inflation prospects for the u.s. over the next five or six, seven years, are quite serious. you cannot have a bumper crop in apples without the value or the price of each apple falling. the fed has had the largest increase in the monetary base in the history of the u.s., from colonial times to the present, times ten.
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Fall Thinking Years

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Now, everybody knows the basic erogenous zones. you got one, two, three, four, five, six, and seven. ... ok, now most guys will hit one, two, three and then go to seven and set up camp. ... you want to hit 'em all and you wanna mix 'em up. you gotta keep 'em on their toes. ... you could start out with a little one. a two. a one, two, three. a three. a five. a four. a three, two. two. a two, four, six. two, four, six. four. two. two. four, seven! five, seven! six, seven! seven! seven! seven! seven! seven! seven! seven! seven! seven! [holds up seven fingers]
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Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output... a steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. it will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.
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Significant changes in the growth rate of money supply, even small ones, impact the financial markets first. then, they impact changes in the real economy, usually in six to nine months, but in a range of three to 18 months. usually in about two years in the us, they correlate with changes in the rate of inflation or deflation." "the leads are long and variable, though the more inflation a society has experienced, history shows, the shorter the time lead will be between a change in money supply growth and the subsequent change in inflation.
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You know, you still owe me pancakes. i think i could go for…apple cinnamon ones now. “ “apple cinnamon? you sure are demanding.” “it’s all right. i think you’re man enough for it.” “thetis, if i actually believed you had either apples or cinnamon in your kitchen, i’d make them for you right now.” i didn’t answer. i was pretty sure i had some year-old apple jacks, but that was about it.
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Assuming that a tax increase is necessary, it is clearly preferable to impose the additional cost on land by increasing the land tax, rather than to increase the wage tax - the two alternatives open to the city (of pittsburgh). it is the use and occupancy of property that creates the need for the municipal services that appear as the largest item in the budget - fire and police protection, waste removal, and public works. the average increase in tax bills of city residents will be about twice as great with wage tax increase than with a land tax increase.
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