Not exact matches
I agree that we should not delude ourselves that the economy can be precisely
controlled so that
inflation stays within or close to the band,
even when there are no external shocks.
Along with some degree of
control over long - term yields this put the Bank of Japan in a better position to accommodate rising demand and
inflation,
even if monetary policy alone might not create these dynamics.
They have no familial memory of the Carter
inflation, the property tax revolts, the failure of wage and price
controls in the 1970s, the post-1964 increase in crime, or how «bracket creep» increased people's tax rates
even as their purchasing power was declining.
Over last 10 years, the revenue we
controlled as a football club in the most successful financial decade in the history of sport, has grown 14 per cent, that's not
even inflation.
btw, give Democrats
control of the Senate and they'll look to allow taxes to go up by 2 %,
even though
inflation is at zero and nobody's getting raises.
As shown in the figure below, per pupil spending has increased in every year for the last century,
even when
controlled for
inflation.
Likewise, governments that have traditionally relied on the issuance of currencies to fund their agendas and
control inflation are
even learning to play nicely with cryptocurrencies.