"The latest report for the S&P Case-Shiller Home Price Indexes showed another small monthly gain in October for the 20-city index, up 0.37 percent on a seasonally adjusted basis or a gain of 0.05 percent when seasonal factors are not taken into account. On a year-over-year basis, prices are now down 7.3 percent and indexes for all 20 cities are shown below."...
Chapter 9: The Cure for Inflation
In Friedman's most widely recognized book, Free to Choose, he presents a concise and detailed explanation of inflation, how it harms an economy, and how to cure it. He concludes the chapter with "five simple truths":
"1. Inflation is a monetary phenomenon arising from a more rapid increase in the quantity of money than in output (though, of course, the reasons for the increase in money may be various).
2. In today's world government determines -- or can determine -- the quantity of money.
3. There is only one cure for inflation: a slower rate of increase in the quantity of money.
4. It takes time -- measured in years, not months -- for inflation to develop; it takes time for inflation to be cured.
5. Unpleasant side effects of the cure are unavoidable."
More About This Topic...
Click thumbnails below to view links