The phrase that explodes that entire concept as it relates to our current discussion is "imagine a helicopter from Timbuktu flies to our economy and deposits $20 into our bank."
You can grow an economy this way if somebody can create actual wealth out of nothing. They CAN'T. Nor is inflating "money supply" real wealth creation.
Additionally, in order for this financial system to work people like Tom and John have to create real wealth somewhere else - a job or business - to eventually repay the bank. If Tom and John just spend the money and come back to the bank week after week for new loans until they have to declare bankruptcy, you have something like our current unemployment situation.
Democrats are economically illiterate. Nothing I've seen in the past few days on the news does anything but confirm this opinion, and underline it.
Incidentally, the Bush "stimulus" was a stupid idea, too.
Current Events » in reply to O...M...G...
Re: Read this and learn
The whole thread (55 posts)
- WSJ gets it wrong, jobless benefits CUT unemployment
- Wish I could agree Eri,
- Re: Re: We are about to retire...
- Re: Texas special accounts?
- Your jobless son is another story.
- They put them into Texas special accounts
- Re: We are about to retire...
- We are about to retire...
- I'm with you
- O...M...G...
- Re: Re: Nope.
- Re: Nope. I'm not.
- Nope. I'm not.
- As usual, you're full of it
- Yeah, it's true.
- Horseapples.
- Good post and great points!