[Rhodes22-list] Economics - More Good News

[Brad Haslett]

Dave,

It takes about 15 knots of wind to get the CoraShen on her feet.  I usually
don't go sailing in July because it's just too hot and all you can do is
motor around.  This weekend may be an exception.  Keep talking about M3 and
your command of economics!

Brad

On 7/14/07, DCLewis1 at aol.com <DCLewis1 at aol.com> wrote:
>
>
> Yeah Rob, but of the $7T national debt that has been accumulated over the
> nations 200+ years, how much of it can we attributed to our
> "new-conservative
> Republican" government with Bush over the past 6 years.  I think the
> number  is
> $3T and rising. Don't you just love Republican
> "conservatives"?  They  really
> are frugal aren't they?
>
> But that's not the whole story.  If you are going to spend a ton of  money
> on
> useless wars and still cut taxes you've got to use every fiscally
> irresponsible dodge in the book.  Question:  how fast is
> M3  increasing?  The increase
> in M3 is tied to how fast your "fiscally  conservative" government is just
> printing dollar bills.  I believe M3 has  been increasing at about 10%/yr,
> while
> the economy has been growing about 3% -  the difference between the 2 is
> about
> how fast your dollar  is depreciating.  But it's such a great way to pay
> the
> governments  bills, just print more money!
>
> Factoid: When Clinton left office you could get a little more than 1.3
>   Euros
> for a dollar, today, 6 1/2 years later, it takes more than 1.3 dollars to
> buy a Euro.  Averaged over 6.5 years, the dollar has depreciated
> against  the
> Euro more than 8.4%/year compounded.  Congratulations, your money
> is  worth
> about 60% what it was 6 years ago and is well on its way to
> being  worthless as
> the result of your "conservative Republican" government working
> the  printing
> presses non-stop to pay its bill - hey, it's not a tax increase and
> we  can
> still have our wars, it's a free lunch!
>
> Want to know one reason gas is more than $3/gal?  Check what's  happened
> to
> the exchange rate against the Euro over the past 6 years.
>
> I believe this approach to paying the governments bills - just
> printing  more
> money - was tried after the Civil War and it precipitated
> a  depression.  But
> if they can just hang on for 18 more months they'll say  "it wasn't my
> fault".
>
> Rummy is absolutely right, it's going to take decades to recover from the
> damage these fools have done.
> And there's absolutely nothing fiscally conservative about
> "new  conservative
> Republicans".
>
> Dave
>
>
>
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