You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America.
More Quotes from Paul A. Volcker:
When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.Paul A. Volcker
By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation.
Paul A. Volcker
Well, I started out in the Federal Reserve as a young economist and spent about five years in the Federal Reserve Bank of New York.
Paul A. Volcker
Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.
Paul A. Volcker
What's the subject of life - to get rich? All of those fellows out there getting rich could be dancing around the real subject of life.
Paul A. Volcker
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One who sees the Supersoul accompanying the individual soul in all bodies and who understands that neither the soul nor the Supersoul is ever destroyed, actually sees.
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