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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (25757)	12/9/2004 6:13:23 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Such heresy from a Monetarist spokesperson! We'll have to send you back to the "Law and Friedman School for Unrepentant Monetarists" for a refresher course. Debt, Money Supply, and Wealth are three different concepts. Don't worry. I won't tell because I know you really believe they are all the same thing. The "different concept" line is a great subterfuge to hide the simple crudeness of the debt based Ponzi scheme which is Monetarism. We know that every dollar of debt adds to the money supply. In fact, U.S. currency being merely an obligation of the Federal Reserve, every dollar of the money supply is debt. Your beloved monetarist system cannot even exist apart from debt. Many has been the times you have posted the money supply to reassure yourself that it's growing fast enough "to continue creating wealth". Your very concept of wealth cannot exist apart from debt. Increase the money supply and asset prices magically increase by the same amount. Your assets are worth more paper and as a consequence your wealth is greatly increased. Debt equals money supply equals wealth. The great Monetarist delusion. You imagine Ronald Reagan and Bush are catastrophically ingenious, as Bush might say, to be following the blueprint for financial destruction carefully laid down by the low-tax high-debt governments of Argentina. But only because you cannot comprehend the connection between cause and effect. Debt creates economic rigidity and the pot of gold at the end of the excessive debt rainbow is not wealth, as you falsely imagine, but simply debt collectors and impoverishment. Yes, in a small way you feel creative helping to create a bigger ponzi scheme than John Law ever imagined possible. But at the end of your life you will find the creativity of destruction and chaos will have provided you nothing but an empty feeling. .