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To: Jack of All Trades who wrote (56879)	10/17/2002 11:59:13 AM
From: reaper	Read Replies (2) \| Respond to of 209892

decreasing the value of money doesn't make it easier to pay of debts if you have LESS money yes, all else equal massively de-basing the currency will make the debt easier to pay off. but all else is NOT equal; you can't hold the rest of the economic system constant and just change one variable (well, Larry Kudlow can, but that's why he doesn't have a real job and is left screaming at losers who watch CNBC at 11:00pm). if it were that simple Brazil and Argentina wouldn't be broke, nor would Japan. and Kudlow could be a central banker <g> Cheers

To: Jack of All Trades who wrote (56879)	10/17/2002 12:13:57 PM
From: Mike M2	Read Replies (1) \| Respond to of 209892

Ian Gordon, argues debt deflation financialsense.com. The view that a Central Bank can prevent deflationary depression by monetary inflation is widely held yet the situation in Japan should make them wonder. there is a point where debt levels become lethal to the economy. mike