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Politics : Ask Michael Burke
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To: DJessen33 who wrote (63370)6/28/1999 8:05:00 PM
From: Freedom Fighter  Read Replies (1) of 132070
 
DJ,

I think the least appreciated fact about savings is that the money that is left over after we are finished consuming (savings) is what we "should" be using for lending, investing and growing the economy. Much of the lending that occurs that does not come from savings is bank credit which is in reality money printing. So it is much healthier to expand credit from savings, corporate profits of insurance companies and stuff like that than it is from printing money and then living with all the distortions that can create. In our case we are printing too much, borrowing too much from overseas and saving too little domestically. Those are some of the "imbalances" that AG will hopefully try to correct. I'm not holding my breath though. He isn't called "easy Al" on this thread for no reason.

Wayne
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