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To: Lhn5 who wrote (36065)	7/22/2005 7:18:58 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Obviously you're not a Monetarist true-believer, like our pal Grace is. Your comment suggesting that additional debt formation merely postpones the inevitable collapse, until someone else's watch, is too well grounded in reality to permit you to be a Monetarist. A real Monetarist like Grace has drunk the Kool-Aide and really and truly believes that an increase in the "Money Supply" (whether through debt creation, dropping money from helicopters, or mailing everyone a check "because its their money") solves all problems. .

To: Lhn5 who wrote (36065)	7/24/2005 1:05:32 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

Monetarists first and foremost believe in the integrity of the money supply, that it needs to be protected. This is the first tenet of monetarism and Elroy is firmly in that camp. What is comical about his ranting on the subject is that he doesn't get this even though gpowel took great pains to point it out to him on numerous occasions right here on this thread. He continues to use the label as some sort of insult not realizing that he is one. I am not a Monetarist because I don't pass that first test.