It turns out that the rich are much better placed to feed at the public trough. The poor get crumbs. Steve Hanke More Quotes by Steve Hanke More Quotes From Steve Hanke Most economists use 'fixed' and 'pegged' as interchangeable or nearly interchangeable terms for exchange rates. Steve Hanke economistsexchangemostuse Since China embraced Deng Xiaoping's reforms on 22 December 1978, China has experimented with different exchange-rate regimes. Until 1994, the yuan was in an ever-depreciating phase against the U.S. dollar. Steve Hanke againstdecemberchinadifferent After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate. Steve Hanke littledaymovementorder Since the end of the 1970s, free-market capitalism has been in, and socialism has been out. Steve Hanke outendcapitalismsocialism During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed's modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief. Steve Hanke viewrealtroublelong With interest rates artificially low, consumers reduce savings in favor of consumption, and entrepreneurs increase their rates of investment spending. Steve Hanke lowfavorsavingsinvestment It's not a pain gauge. It's a polling gauge, that was the whole purpose of the thing. The bottom line is the original one gives politicians what they need to know. Steve Hanke
