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To: ild who wrote (241880)	5/21/2003 10:51:55 AM
From: zonder	Respond to of 436258

Very well put.

To: ild who wrote (241880)	5/21/2003 11:11:21 AM
From: Tommaso	Respond to of 436258

In that piece, Kasriel says: "A depreciating dollar means a decline in (or slower growth in) Americans' standard of living. In effect, we will be working harder but enjoying it less. So it goes." But those of us who understand this and put our money into assets that increase in value with a depreciating dollar will work less and enjoy it more. I used to get righteously wrought up on behalf of my country and countrymen, but found repeatedly that my efforts to tell people the truth about economic realities only made me look like a perverse idiot. So now I just try to understand what is going on and make the best of it for myself and for those who depend on me. I guess there is one family who paid attention to me and got out of the markets at the top of the bubble, but most people would just say (in year 2000), "That's what you have been saying for two years now and the markets have kept going up!" Actually Americans don't have to work any harder if they don't want to. I mean, if you can get by with a 19-inch color TV for $199 instead of a wall-sized home entertainement center for $10,000, and can stand to drive a $14,000 car instead of a $35,000 car, and make various other economies, there is no reason to waste all that time doing what Mark Twain defined work to be "What a body [person] does not want to do.]