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

To: GraceZ who wrote (25810)	12/10/2004 7:41:53 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Benjamin Franklin wrote in Poor Richard's Almanac that "A penny saved is a penny earned". In your debt intoxicated state you've updated this with "A penny borrowed is a penny you're really motivated to repay". As a professional Photoshop expert, and serial debtor, you fancy yourself profound enough to preach the Gospel of Debt at every opportunity. In your conceit you have even attempted to provide a definition of money, for those not sophisticated enough to have learned of it's existence. You announce that the government should be funded with debt rather than taxes, in the model of Argentina, because it will eventually create some mysterious efficiency - an efficiency which most economists call bankruptcy. I eagerly await your tendentious explanation of how Debt created the world in seven days and provides the essential life force which sustains all life. .

To: GraceZ who wrote (25810)	12/10/2004 7:03:29 PM
From: Mike Johnston	Read Replies (1) \| Respond to of 306849

Every day you and I go to work and add value to the economy (well at least I do), if there wasn't money added to the money supply to represent that value,..... Grace, Can you please explain, why do you think that money has to be added to the money supply if there is some service performed ? For example if you have a contractor put in a new driveway in your house for 5,000 dol, he is performing a service. You are paying him for the service and in the end he has $5k more, you have $5k less but a new driveway. The money has been simply exchanged for the service. There is value added to the economy, because there exists a brand new driveway which has not existed before. But why would the Fed need to print another 5,000 dol. to represent that value ? It seems absurd. In my opinion money should be added to the economy based on real gdp growth which comes from increase in population + gain in real productivity.