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I'm a trainee http://boobs.pet/ boobs gif I think the view that inflation is costly is correct, but it has nothing to do with optimal tax theory. It has instead to do with other considerations that are much more important, even if they are more difficult to model. First, standards should remain standard. Imagine the following conceptual experiment: Depreciate the pound--not the British currency, but the American weight measure--by 10 percent each year so that what is a pound today would be 14.4 ounces next year and 12.96 ounces two years from now, and so forth. Some might contend that allowing the pound to lose value steadily wouldn't make a difference. Only real things matter,and you could just redenominate the units and all the contracts could be written to be time contingent. But it would be costly to get organized to write those contracts. If I promised delivery of a pound of sugar, it would benefit me to delay as long as I could: the longer I waited, the less sugar I would have to deliver. That's exactly what happens with all payments when there is inflation. Consider cash management services at banks. One of these services provides faster depositing of checks. Think about the social gains versus the private gains that are producedw hen checks are deposited faster. The private gains are significant:you earn more interest. Of course, the person who wrote the check earns less interest.As a first approximation,the social gain is zero. It is a form of rent-seeking.The higher the rate of inflation,the more rent-seeking will be observed. The more that one party seeks to delay paying bills, the more the other party will try to accelerate the payment of bills. This is all a waste of resources that can be avoided if there is little or no inflation. http://xxx-xx.in.net/ xxx jepang She said the euro zone "came up for air" in the spring aftersix quarters of recession, and the economy should grow almost 1percent next year. The currency bloc must address debt-hobbledbanks and a fragmented financial system to return to health, shesaid. http://elephanttube.in.net/ elephanttube "We aim to sell tens of thousands of fuel cell vehicles ayear by sometime in the 2020s," Managing Officer Satoshi Ogisotold reporters earlier this week in Tokyo where Toyota showedoff its advanced technologies. http://xnxxxnxxvideo.in.net/ xxx video hindi Scarano has had two requests to move from jail into housearrest turned down. He is also under a separate money launderinginvestigation by magistrates in his hometown of Salerno, wherehe is accused of withdrawing 560,000 euros in cash from hisaccount at IOR and giving small amounts to friends in exchangefor 61 cheques drawn on Italian banks, according to courtdocuments. http://beeg-beegcom.in.net/ beeg hd "The whole day was simultaneously the best and worst experience of my life. The news was devastating. No one had any idea what to say or do. It just shows how much of a truly amazing guy Cory was that everyone was so shocked and emotional about the news. Everyone was crying and sharing their stories." — Chloe Harvey, an 18-year-old "Glee" fan from England, on the death of actor Cory Monteith.