"Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair"
- Sam Ewing
About this Quote
Sam Ewing's quote "Rising cost of living is when you pay fifteen dollars for the ten-dollar haircut you utilized to obtain for 5 bucks when you had hair" is a funny take on the concept of inflation. It highlights just how the worth of cash modifications with time - what used to cost less currently sets you back even more as a result of rising cost of living.
The quote recommends that as people age and their hair falls out, they wind up paying a lot more for the same haircut they utilized to get for much less cash. This is due to the fact that inflation has actually affected the expense of products and also solutions. Rising cost of living is the rise in the basic price degree of products as well as services in an economy over time. As a result, the purchasing power of a provided quantity of money decreases gradually.
The quote additionally highlights the significance of understanding as well as handling rising cost of living. If inflation is not regulated, it can cause a reduction in the requirement of living for the population, as individuals's incomes as well as financial savings will certainly not have the ability to stay on top of the increasing price of living.
This quote is written / told by Sam Ewing somewhere between April 9, 1949 and today. He was a famous Athlete from USA, the quote is categorized under the topic Age. The author also have 11 other quotes.
"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists"
"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens"
"Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation"
"And so our goal on health care is, if we can get, instead of health care costs going up 6 percent a year, it's going up at the level of inflation, maybe just slightly above inflation, we've made huge progress. And by the way, that is the single most important thing we could do in terms of reducing our deficit. That's why we did it"