“Although realizing losses—or, running quasi-fiscal deficits—is new to the Fed, it is more common in developing countries. The consequences of running quasi-fiscal deficits include inflation and lack of central bank credibility.” ~ Nicolas Cachanosky
“While Waller sees the recent slowdown in inflation as positive, he is not ready to declare victory as it is only a single data point.” ~ Bryan P. Cutsinger
“Collectivist ideologies are ultimately nothing but fantastical escapes from reality, filled with promises of freedom from scarcity and alienation in one’s work.” ~ Jedediah Pida-Reese
“In other words, Herbert wanted the independence of mankind from all overreaching government, not the mere replacement of one pack of wolves for another, even a smaller or less voracious pack.” ~ Robert E. Wright
“Whereas most price discrimination is instigated from the side of the seller, tipping represents a cultural mechanism that obligates consumers to reveal their own preferences and share their consumer surplus with the supplier.” ~ Anthony Gill
“As long as you don’t have serious comorbidities, you are over 4.5 times more likely to win the million-dollar Powerball prize than die from the consumption of a raw unpasteurized egg.” ~ Alec Stamm
“US inflation was not always as persistently high as it has been under the Fed. Before the Fed, the purchasing power of the dollar was determined by supply of and demand for gold.” ~ Thomas L. Hogan
“The reduction of the US credit rating is overdue in light of the long and enthusiastic abandonment of fiscal soundness in Washington DC, recently abetted by monetary policy authorities.” ~ Peter C. Earle
“At present we continue to believe that the US will enter a recession by September 2024, but will adjust our perspectives if and when necessary as new data and facts become available.” ~ Peter C. Earle
“There’s no way for non-market actors to direct credit more reliably than market actors. The discipline of profit and loss is essential.” ~ Alexander W. Salter
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