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POPSThe Fed Must Strengthen The Dollar
Since 1948, inflation has averaged 3.7% per year, unemployment 5.6%, and real GDP growth 3.4%. But the 10 lowest inflation years (between 1949-62, and 1986) averaged 0.5% inflation and 5.2% unemployment, along with 3.5% GDP growth. And the 10 high inflation years (between 1973-81, 1969, and 1990) averaged 9.1% in consumer price increases, along with 6.2% unemployment and 2.6% in growth. In other words,low inflation was often associated with lower unemployment and stronger GDP growth than high-inflation years. More strikingly, the years following the 10 lowest inflation years were even better in terms of performance (averaging 5.1% unemployment and 4.4% growth), and the years following the high inflation years were even worse (7% unemployment and 1.4% GDP growth). This record shows the importance of sound money, fostering an environment allowing the key growth drivers of entrepreneurship and capital investment to flourish under stable long-run expectations.
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POPSIndexes have their disadvantages I've seen a lot of people talk about the consumption of disk space with respect to indexes, but I don't remember seeing mention of how it could consume memory space. I believe that makes sense. And seeing how I'm fighting with memory right now, it makes me think twice about slapping yet another index on my tables.
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