Wall Street Mav@WallStreetMav
Why do we have inflation? The Fed tries to force 2% inflation. It wasn’t always this way.
“The natural tendency for prices is to go down. If you look at the CPI in 1900 and you look at it in 1800, it was down by 50%. So for a hundred years in America, prices went down. And during that time, we had the Industrial Revolution.”
“We had the most rapid period of economic growth in the history of America, which was after the Civil War and into the early 1900s. All the time prices were coming down.”
“Today, the Federal Reserve says that we need to have 2 % inflation. Prices have to go up 2 % a year. Why? I mean, why does the cost of living have to go up? Why can't it go down or at least remain the same? And what is the answer to that? What's the rationale for that?”
“Well, they have a bunch of BS explanations and it's all to justify the fact that the government wants inflation. It's not that it's good for us. The government needs it.”
“It's the way the government raises revenue and repudiates its debts.”
@PeterSchiff