You could be right - I'm honestly not an economic ...

2008-10-02T11:26:00.000-06:00

You could be right - I'm honestly not an economic expert.

My reasoning is this: when you take on 700 billion dollars of debt with money you don't have, you _are_ printing money, whether the treasury turns up the printing presses or not. As our nation becomes increasingly mired in risky debt, it makes investment in the dollar a bad choice for other countries. There's a limit to how many IOU's we can have out in the wild and have people expect us to actually pay them back one day.

Now obviously, a completely frozen credit market has the same effect. Something has to be done, but the currently proposed solution reminds me of the people buying houses on credit with the expectation that their old one will sell - and you see where _that_ has gotten us.

Jeromie, an honest question:

How do you see...

2008-10-02T11:12:00.000-06:00

Jeromie, an honest question:

How do you see the bailout devaluing the dollar? Wouldn't that require us to print money instead of shouldering the debt on the taxpayers? Isn't it more likely that the dollar will lose value if our credit markets stay frozen?

Comments on Whistling in the Dark: On Politics and Grace

You could be right - I'm honestly not an economic ...

Jeromie, an honest question:How do you see...

Jeromie, an honest question:

How do you see...