Quotes about inflation

A collection of quotes on the topic of inflation, money, governance, government.

Quotes about inflation

Pyotr Ilyich Tchaikovsky photo

“I played over the music of that scoundrel Brahms. What a giftless bastard! It annoys me that this self-inflated mediocrity is hailed as a genius.”

Pyotr Ilyich Tchaikovsky (1840–1893) Russian composer

Diary entry for October 9, 1886, quoted in Nicolas Slonimsky, Lexicon of Musical Invective (1953), p. 73.

Lynn Margulis photo
Ludwig von Mises photo
Elizabeth Gilbert photo
Vladimir Lenin photo

“The way to crush the bourgeoisie is to grind them down between the millstones of taxation and inflation.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

John Maynard Keynes, paraphrase of Lenin Interview http://blog.skepticallibertarian.com/2013/04/15/fake-quote-files-v-i-lenin-on-inflation-and-taxation/
Misattributed

Stephen Hawking photo
Andy Rooney photo
Alan Guth photo
John Scalzi photo
Thomas J. Sargent photo
C.G. Jung photo
David Harvey photo

“Rampant inflation is just as hard to live with as the devaluation of commodities.”

David Harvey (1935) British anthropologist

Source: The Limits To Capital (2006 VERSO Edition), Chapter 10, Finance Capital And Its Contradictions, p. 295

Thomas J. Sargent photo
Blaise Pascal photo

“The mind must not be forced; artificial and constrained manners fill it with foolish presumption, through unnatural elevation and vain and ridiculous inflation, instead of solid and vigorous nutriment.”

Blaise Pascal (1623–1662) French mathematician, physicist, inventor, writer, and Christian philosopher

The Art of Persuasion

Ludwig von Mises photo

“Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i. e., for cash holdings.”

Ludwig von Mises (1881–1973) austrian economist

The Free Market and Its Enemies, speech to the Foundation for Economic Education https://fee.org/library/books/the-free-market-and-its-enemies/ (1951)

Margaret Thatcher photo

“The record is clear, printing money doesn't create jobs, it only creates more inflation.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Speech to Conservative Trade Unionists (Annual Conference) (1 November 1980) http://www.margaretthatcher.org/document/104439
First term as Prime Minister
Context: If simply printing and spending more money would cure our problems we should by now be one of the wealthiest nations in the Western world.—In the lifetime of the last Labour Government the amount of money in the economy went up by £20 thousand million but the number of jobs did not increase. Indeed, unemployment doubled and prices more than doubled too.—In the last three years (1976–79) the amount of money in the economy went up by 50%; but yet only 4%; went into output, the rest into higher prices and imports. The record is clear, printing money doesn't create jobs, it only creates more inflation. But there is another word for printing money—they call it “reflection”. It is a cosy word but a fraudulent device. It cuts the value of every pound in circulation, of every pound the thrifty have saved. It means spending money you can't afford, haven't earned and haven't got. You would accept that it is neither moral nor responsible for a family to live beyond its means. Equally it is neither moral nor responsible for a Government to spend beyond the nation's means, even for services which may be desirable. So we must curb public spending to amounts that can be financed by taxation at tolerable levels and borrowing at reasonable rates of interest.

Desiderius Erasmus photo

“There are others where religion is nothing but ritual; and these are worse than the first, for the Spirit of God is not in them, and they are inflated with self-righteousness.”

Desiderius Erasmus (1466–1536) Dutch Renaissance humanist, Catholic priest, and theologian

Letter to Lambertus Grunnius (August 1516), publised in Life and Letters of Erasmus : Lectures delivered at Oxford 1893-4 (1894) http://books.google.com/books?id=ussXAAAAMAAJ&pg=PA180&lpg=PA180&dq=%22is+no+discipline+and+which+are+worse+than+brothels%22&source=bl&ots=PnJjrkSLNB&sig=JPY0PhTf2YgYwJlf3uH2eTvCJeA&hl=en&ei=BGwXTNqTA5XANu6_pJ8L&sa=X&oi=book_result&ct=result&resnum=1&ved=0CBIQ6AEwAA#v=onepage&q=%22is%20no%20discipline%20and%20which%20are%20worse%20than%20brothels%22&f=false edited by James Anthony Froude, p. 180
Context: There are monasteries where there is no discipline, and which are worse than brothels — ut prae his lupanaria sint et magis sobria et magis pudica. There are others where religion is nothing but ritual; and these are worse than the first, for the Spirit of God is not in them, and they are inflated with self-righteousness. There are those, again, where the brethren are so sick of the imposture that they keep it up only to deceive the vulgar. The houses are rare indeed where the rule is seriously observed, and even in these few, if you look to the bottom, you will find small sincerity. But there is craft, and plenty of it — craft enough to impose on mature men, not to say innocent boys; and this is called profession. Suppose a house where all is as it ought to be, you have no security that it will continue so. A good superior may be followed by a fool or a tyrant, or an infected brother may introduce a moral plague. True, in extreme cases a monk may change his house, or even may change his order, but leave is rarely given. There is always a suspicion of something wrong, and on the least complaint such a person is sent back.

Desiderius Erasmus photo

“There are monasteries where there is no discipline, and which are worse than brothels — ut prae his lupanaria sint et magis sobria et magis pudica. There are others where religion is nothing but ritual; and these are worse than the first, for the Spirit of God is not in them, and they are inflated with self-righteousness. There are those, again, where the brethren are so sick of the imposture that they keep it up only to deceive the vulgar. The houses are rare indeed where the rule is seriously observed, and even in these few, if you look to the bottom, you will find small sincerity. But there is craft, and plenty of it — craft enough to impose on mature men, not to say innocent boys; and this is called profession. Suppose a house where all is as it ought to be, you have no security that it will continue so. A good superior may be followed by a fool or a tyrant, or an infected brother may introduce a moral plague. True, in extreme cases a monk may change his house, or even may change his order, but leave is rarely given. There is always a suspicion of something wrong, and on the least complaint such a person is sent back.”

Desiderius Erasmus (1466–1536) Dutch Renaissance humanist, Catholic priest, and theologian

Letter to Lambertus Grunnius (August 1516), published in Life and Letters of Erasmus : Lectures delivered at Oxford 1893-4 (1894) http://books.google.com/books?id=ussXAAAAMAAJ&pg=PA180&lpg=PA180&dq=%22is+no+discipline+and+which+are+worse+than+brothels%22&source=bl&ots=PnJjrkSLNB&sig=JPY0PhTf2YgYwJlf3uH2eTvCJeA&hl=en&ei=BGwXTNqTA5XANu6_pJ8L&sa=X&oi=book_result&ct=result&resnum=1&ved=0CBIQ6AEwAA#v=onepage&q=%22is%20no%20discipline%20and%20which%20are%20worse%20than%20brothels%22&f=false edited by James Anthony Froude, p. 180

Sylvia Plath photo
Ernest Hemingway photo
John Wayne photo
Kent Hovind photo
Victor Davis Hanson photo
Peter Greenaway photo
Sean Carroll photo
Friedrich Hayek photo
George W. Bush photo
Gottfried Feder photo
Murray N. Rothbard photo
Ron Paul photo

“Question: You wanna gut that safety net…
Ron Paul: But the safety net doesn't work.
Question: Tell me why it doesn't work.
Ron Paul: It does work for some people, but overall it ultimately fails, because you spend more money than you have, and then you borrow to the hilt. Now we have to borrow $800 billion a year just to keep the safety net going. It's going to collapse when the dollar collapses, you can't even fight the war without this borrowing. And when the dollar collapses, you can't take care of the elderly of today. They're losing ground. Their cost of living is going up about 10%, even though the government denies it, we give them a 2% cost of living increase.
Question: So do you think the gold standard would fix that?
Ron Paul: The gold standard would keep you from printing money and destroying the middle class. Every country where you have runaway inflation, there's no middle class. Mexico, there's no middle class, you have a huge poor class, and a lot of wealthy people. Today we have a growing poor class, and we have more billionaires than ever before. So we're moving into third world status…
Question: Who is the safety net that you're speaking of, who does benefit from all those programs and all those agencies?
Ron Paul: Everybody on a short term benefits for a time. If you build a tenement house by the government, for about 15 or 20 years somebody might live there, but you don't measure who paid for it: somebody lost their job down the road, somebody had inflation, somebody else suffered. But then the tenement house falls down after about 20 years because it's not privately owned, so everybody eventually suffers. But the immediate victims aren't identifiable, because you don't know who lost the job, and who had the inflation, the victims are invisible. The few people who benefit, who get some help from government, everyone sees, "oh! look what we did!", but they never say instead of what, what did we lose. And unless you ask that question, we'll go into bankruptcy, we're in the early stages of it, the dollar is going down, our standard of living is going down, and we're hurting the very people that so many people wanna help, especially the liberals…”

Ron Paul (1935) American politician and physician

Interview by Mac McKoy on KWQW, December 17, 2007 http://ca.youtube.com/watch?v=x3lxo9WIR6w
2000s, 2006-2009

Charles Bukowski photo
Ron Paul photo

“Ron Paul: What's happening is, there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out. So the people who get to use the money first which is created by the Federal Reserve system benefit. So the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before. Today, this country is in the middle of a recession for a lot of people… As long as we live beyond our means we are destined to live beneath our means. And we have lived beyond our means because we are financing a foreign policy that is so extravagant and beyond what we can control, as well as the spending here at home. And we're depending on the creation of money out of thin air, which is nothing more than debasement of the currency. It's counterfeit… So, if you want a healthy economy, you have to study monetary theory and figure out why it is that we're suffering. And everybody doesn't suffer equally, or this wouldn't be so bad. It's always the poor people -- those who are on retired incomes -- that suffer the most. But the politicians and those who get to use the money first, like the military industrial complex, they make a lot of money and they benefit from it.
John McCain: Everybody is paying taxes and wealth creates wealth. And the fact is that I would commend to your reading, Ron, "Wealth of Nations," because that's what this is all about. A vibrant economy creates wealth. People pay taxes. Revenues are at an all time high.”

Ron Paul (1935) American politician and physician

GOP debate, Dearborn, Michigan, October 9, 2007 http://www.freep.com/apps/pbcs.dll/article?AID=/20071009/NEWS02/71009073
2000s, 2006-2009

Ron Paul photo

“Tax revenues are up 59 percent since 1980. Because of our economic growth? No. During Carter's four years, we had growth of 37.2 percent; Reagan's five years have given us 30.7 percent. The new revenues are due to four giant Republican tax increases since 1981. All republicans rightly chastised Carter for his $38 billion deficit. But they ignore or even defend deficits of $220 billion, as government spending has grown 10.4 percent per year since Reagan took office, while the federal payroll has zoomed by a quarter of a million bureaucrats… big government has been legitimized in a way the Democrats never could have accomplished. It was tragic to listen to Ronald Reagan on the 1986 campaign trail bragging about his high spending on farm subsidies, welfare, warfare, etc… the IRS has grown bigger, richer, more powerful, and more arrogant. In the words of the founders of our country, our government has "sent hither swarms" of tax gatherers "to harass our people and eat out their substance." His officers jailed the innocent George Hansen, with the President refusing to pardon a great American whose only crime was to defend the Constitution. Reagan's new tax "reform" gives even more power to the IRS. Far from making taxes fairer or simpler, it deceitfully raises more revenue for the government to waste… I want to totally disassociate myself from the policies that have given us unprecedented deficits, massive monetary inflation, indiscriminate military spending, an irrational and unconstitutional foreign policy, zooming foreign aid, the exaltation of international banking, and the attack on our personal liberties and privacy.”

Ron Paul (1935) American politician and physician

Letter to chairman of the RNC http://www.textfiles.com/politics/ron_paul.txt Frank Fahrenkopf (March 1987).
1980s

John W. Gardner photo
Margaret Thatcher photo

“The right hon. Gentleman is afraid of an election is he? Oh, if I were going to cut and run I'd have gone after the Falklands. Afraid? Frightened? Frit? Couldn't take it? Couldn't stand it? Right now inflation is lower than it has been for thirteen years, a record the right hon. Gentleman couldn't begin to touch!”

Margaret Thatcher (1925–2013) British stateswoman and politician

Prime Minister's Questions (19 April 1983) http://www.margaretthatcher.org/speeches/displaydocument.asp?docid=105294. The use of 'frit', an unusual Lincolnshire dialect abbreviation of 'frightened' which Mrs Thatcher evidently recalled from childhood, was missed by MPs in a noisy chamber but heard very distinctly on the audio feed from the chamber.
First term as Prime Minister

Ron Paul photo

“Neil Cavuto: …your campaign has received a $500 campaign donation from a white supremacist in West Palm Beach. And your campaign had indicated you have no intention to return it. What are you going to do with that?
Ron Paul: It is probably already spent. Why give it back to him and use it for bad purposes?
Neil Cavuto: …this Don Black who made the donation, and who ran a site called "Stormfront, White Pride Worldwide," now that you know it, now that you're familiar after the fact, you still would not return it?
Ron Paul: Well, if I spent his money and I took the money that maybe you might have sent to me and donate it back to him, that does not make any sense to me. Why should I give him money to promote his cause?
Neil Cavuto: …Hillary Clinton has had to do this, a number of other candidates have had to do this. Do you think that just is a bad practice?
Ron Paul: I think it is pandering. I think it is playing the political correctness… What about the people who get donations, want to get special interests from the military industrial complex? They put in — they raise, bundle their money, and send millions of dollars in there. And they want to rob the taxpayers. That is the real evil … that buys influence in government. And this is, to me, the corruption that should be corrected… you are missing the whole boat — the whole boat, because it is the immorality of government, it's the special interests in government, it's fighting illegal wars…
Neil Cavuto: All right.
Ron Paul: …and financing, and taxing the people, destroying the people through inflation, and undermining this prosperity of the country.”

Ron Paul (1935) American politician and physician

Your World with Neil Cavuto, FOX News, December 19, 2007 http://www.foxnews.com/story/0,2933,317536,00.html http://www.youtube.com/watch?v=CrRtZaG63o8
2000s, 2006-2009

Simone Weil photo

“The full expression of personality depends upon its being inflated by social prestige; it is a social privilege.”

Simone Weil (1909–1943) French philosopher, Christian mystic, and social activist

Source: Simone Weil : An Anthology (1986), Human Personality (1943), p. 64

Michael Hudson (economist) photo
Matt Sanchez photo
Alan Guth photo
Henry Hazlitt photo

“I do not mean to suggest that all those who call themselves monetarists make this unconscious assumption that an inflation involves this uniform rise of prices. But we may distinguish two schools of monetarism. The first would prescribe a monthly or annual increase in the stock of money just sufficient, in their judgment, to keep prices stable. The second school (which the first might dismiss as mere inflationists) wants a continuous increase in the stock of money sufficient to raise prices steadily by a "small" amount—2 or 3 per cent a year. These are the advocates of a "creeping" inflation. … I made a distinction earlier between the monetarists strictly so called and the "creeping inflationists." This distinction applies to the intent of their recommended policies rather than to the result. The intent of the monetarists is not to keep raising the price "level" but simply to keep it from falling, i. e., simply to keep it "stable." But it is impossible to know in advance precisely what uniform rate of money-supply increase would in fact do this. The monetarists are right in assuming that in a prospering economy, if the stock of money were not increased, there would probably be a mild long-run tendency for prices to decline. But they are wrong in assuming that this would necessarily threaten employment or production. For in a free and flexible economy prices would be falling because productivity was increasing, that is, because costs of production were falling. There would be no necessary reduction in real profit margins. The American economy has often been prosperous in the past over periods when prices were declining. Though money wage-rates may not increase in such periods, their purchasing power does increase. So there is no need to keep increasing the stock of money to prevent prices from declining. A fixed arbitrary annual increase in the money stock "to keep prices stable" could easily lead to a "creeping inflation" of prices.”

Henry Hazlitt (1894–1993) American journalist

Where the Monetarists Go Wrong (1976)

Henry Hazlitt photo
John Maynard Keynes photo
Mark Skousen photo
John Moffat photo
Nigel Lawson photo
Maxwell D. Taylor photo

“So the future depends not only on what we do but on what other powers do. Will they join in the nuclear arms race or save their resources for later, more renumerative uses? Will they increase their productivity while we succumb to inflation and its social and economic consequences? Will they live in harmony at home while we remain riven by factionalism and terrorized by crime? Most important of all, will they choose their goals wisely and pursue them relentlessly while we flounder in aimlessness or exhaust ourselves in internecine struggles? These matters are quite as important as the decline of absolute American power in determining the equilibrium of international relations in the 1970s. One thing is sure: the international challenge tends to merge more and more with the domestic challenge until the two become virtually indistinguishable. The threats from both sources are directed at the same sources of national power which provide strength both for our national security and for our domestic welfare. It is clear, I believe, that we cannot overcome abroad and fail at home, or succeed at home and succumb abroad. To progress toward the goals of our security and welfare we must advance concurrently on both foreign and domestic fronts by means of integrated national power responsive to a unified national will.”

Maxwell D. Taylor (1901–1987) United States general

Closing words, p. 421-422
Swords and Plowshares (1972)

Rutherford B. Hayes photo

“I regard the inflation acts as wrong in all ways. Personally I am one of the noble army of debtors, and can stand it if others can. But it is a wretched business.”

Rutherford B. Hayes (1822–1893) American politician, 19th President of the United States (in office from 1877 to 1881)

Letter to Austin Birchard (21 April 1874), when he was approximately $46,000 in debt.
Diary and Letters of Rutherford Birchard Hayes (1922 - 1926)

“We all, or nearly all, consent If wages rise by ten per cent It puts a choice before the nation Of unemployment or inflation.”

Kenneth E. Boulding (1910–1993) British-American economist

Kenneth Boulding (1951) in: The impact of the Union: eight economic theorists evaluate the labor union movement. John Maurice Clark & David McCord Wright eds.
1950s

Naomi Klein photo
David Mitchell photo
Alfred P. Sloan photo
Thomas Jefferson photo
Jean Cocteau photo

“See your disappointments as good fortune. One plan's deflation is another's inflation.”

Jean Cocteau (1889–1963) French poet, novelist, dramatist, designer, boxing manager and filmmaker

Diary of an Unknown (1988)

James A. Garfield photo

“Whoever controls the volume of money in any country is absolute master of all industry and commerce…. And when you realize the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”

James A. Garfield (1831–1881) American politician, 20th President of the United States (in office in 1881)

The first sentence, attributed to Garfield since the 1890s http://books.google.com/books?id=-RoPAAAAYAAJ&pg=PA156&dq=%22Whoever+controls+the+volume+of+money%22, is almost certainly a paraphrase of Garfield's "absolute dictator" quote, above. The second part is a late 20th-century commentary misattributed to Garfield.
Misattributed

Paul Krugman photo
Bob Dylan photo

“Man's ego's inflated, his laws are outdated. They don't apply no more. You can't rely no more to be standing around waiting.”

Bob Dylan (1941) American singer-songwriter, musician, author, and artist

Song lyrics, Slow Train Coming (1979), Slow Train

William Jennings Bryan photo
Alan Greenspan photo
Patrick Allen photo

“Behold the E4 Udderbelly! An Edinburgh Festival venue that's a ruddy inflatable cow!”

Patrick Allen (1927–2006) Film, television and voice actor

E4, E4 Udderbelly

Arthur F. Burns photo
Bruce Fein photo
Alan Guth photo

“Inflation is a prequel to the conventional Big Bang theory. …It does provide a theory of the propulsion that drove the universe into this humungous episode of expansion which we call the Big Bang.”

Alan Guth (1947) American theoretical physicist and cosmologist

Lecture 1: Inflationary Cosmology: Is Our Universe Part of a Multiverse? Part I.
The Early Universe (2012)

Paul Krugman photo
George W. Bush photo
Paul Keating photo
Pauline Kael photo
Peter D. Schiff photo

“Today, of course, our current inflation problem is firmly rooted in the irresponsible monetary policies of maestro Greenspan.”

Peter D. Schiff (1963) American entrepreneur, economist and author

Quotes from Crash Proof (2006)

François Englert photo

“At the ULB, Brout and I initiated a research group in fundamental interactions, that is, in the search for the general laws of nature. Joined by brilliant students, many of them becoming world renowned physicists, our group contributed to the many fields at the frontier of the challenges facing contemporary physics. While the mechanism discovered in 1964 was developed all over the world to encode the nature of weak interactions in a "Standard Model," our group contributed to the understanding of strong interactions and quark confinement, general relativity and cosmology. There we introduced the idea of a primordial exponential expansion of the universe, later called inflation, which we related to the origin of the universe itself, a scenario, which I still think may possibly be conceptually the correct one. During these developments, our group extended our contacts with other Belgian universities and got involved in many international collaborations.
With our group and many other collaborators I analysed fractal structures, supergravity, string theory, infinite Kac-Moody algebras and more generally all tentative approaches to what I consider as the most important problem in fundamental interactions: the solution to the conflict between the classical Einsteinian theory of gravitation, namely general relativity, and the framework of our present understanding of the world, quantum theory.”

François Englert (1932) Belgian theoretical physicist

excerpt[François Englert - Biographical, Nobel Prize in Physics (nobelprize.org), 2013, https://www.nobelprize.org/nobel_prizes/physics/laureates/2013/englert-bio.html]

Nigel Lawson photo
Friedrich Hayek photo
João Magueijo photo
Murray N. Rothbard photo
Tony Blair photo
Morrissey photo

“I could never really make the connection between Christian and Catholic. I always imagined that Christ would look down upon the Catholic church and totally disassociate himself from it. I went to severe schools, working class schools, where they would almost chop your fingers off for your own good, and if you missed church on Sunday and went to school on a Monday and they quizzed you on it, you'd be sent to the gallows. It was like 'Brush you teeth NOW or you will DIE IN HELL and you will ROT and all these SNAKES will EAT you'. And I remember all these religious figures, statues, which used to petrify every living child. All these snakes trodden underfoot and blood everywhere. I thought it was so morbid. I mean the very idea of just going to church anyway is really quite absurd. I always felt that it was really like the police, certainly in this country at any rate, just there to keep the working classes humble and in their place. Because of course nobody else but the working class pays any attention to it. I really feel quite sick when I see the Pope giving long, overblown, inflated lectures on nuclear weapons and then having tea with Margaret Thatcher. To me it's total hypocrisy. And when I hear the Pope completely condemning working class women for having abortions and condemning nobody else… to me the whole thing is entirely class ridden, it's just really to keep the working classes in perpetual fear and feeling total guilt.”

Morrissey (1959) English singer

from "All men have secrets and these are Morrissey’s", interview by Neil McCormick,Hot Press (4 May 1984)
In interviews etc., About life and death

Peter D. Schiff photo

“Inflation is the unhappy result of our monetary mismanagement and the ultimate cause of the coming economic collapse.”

Peter D. Schiff (1963) American entrepreneur, economist and author

Quotes from Crash Proof (2006)

John Eatwell, Baron Eatwell photo
Alan Keyes photo
Thomas Jefferson photo
James Callaghan photo

“We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step.”

James Callaghan (1912–2005) Prime Minister of the United Kingdom; 1976-1979

Labour Party Annual Conference Report 1976, page 188.
Speech at the Labour Party Conference, 28 September 1976. This part of his speech was written by his son-in-law, future BBC Economics correspondent Peter Jay.
Prime Minister

Zia Haider Rahman photo

“…Britain has a hugely inflated sense of self. …”

Zia Haider Rahman British novelist

"Zia Haider Rahman in the Reckford Lecture in European Studies “Brexit: The Reckoning”'at the University of North Carolina" http://https://twitter.com/iah_unc/status/966830318778028032 Feb 22, 2018. Retrieved on 2018-02-25.

F. W. de Klerk photo
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Willem de Sitter photo
Didier Sornette photo

“The acceleration of the number of traders buying into the market in the inflating bubble captures the oft-quoted observation that bubbles are times when the "greater fool theory" applies.”

Didier Sornette (1957) French scientist

Source: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 6, Hierarchies, Complex Fractal Dimensions, And Log Periodicity, p. 185.

Denis Healey photo

“I am going to negotiate with the IMF on the basis of our existing policies, not changes in policies, and I need your support to do it. (Applause) But when I say "existing policies", I mean things we do not like as well as things we do like. It means sticking to the very painful cuts in public expenditure (shouts from the floor) on which the Government has already decided. It means sticking to a pay policy which enables us, as the TUC resolved a week or two ago, to continue the attack on inflation. (Shout of, "Resign".)”

Denis Healey (1917–2015) British Labour Party politician and Life peer

Speech at the Labour Party Conference (30 September 1976), quoted in Labour Party Annual Conference Report 1976, p. 319. Healey had been forced to abandon plans to attend an international finance ministers' conference in order to speak to the conference because of a run on the pound.
1970s

Leopoldo Galtieri photo

“Foreign debt and inflation have nothing to do with my decision. Indeed, I can assure you that [the Falklands war is] not going to alleviate inflation or debt. It is true that the Falklands have served to unite Argentines. But I swear and repeat that the idea of ​​solving these issues through war has never crossed my mind.”

Leopoldo Galtieri (1926–2003) Argentine military dictator

Reportaje de Oriana Fallaci a Leopoldo F. Galtieri http://archivohistorico.educ.ar/content/reportaje-de-oriana-fallaci-leopoldo-f-galtieri#sthash.ZQrMQt2O.dpuf, Revista El porteño, August 1982