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Monday, January 31, 2011

Griper Blade: No, the Government Doesn't "Just Print Money"

Printing moneyIt's not often that I blog about a letter to the editor in my local paper. Generally, one person's misinformed opinion isn't worth worrying about. But sometimes, the opinion expressed is so wrong, yet so widespread, that it must be addressed. I'll quote the whole thing here, so you can get the full impact.

Wisconsin State Journal:

It amazes me how supposedly intelligent folks can claim that the stimulus, bailout, bribery money is an actual benefit to those receiving it. You read about brain drain out of Wisconsin when it comes to jobs, but what about brain drain when it comes to intellect?

It's not hard to understand the simple concept of currency value. Print more money and the existing money becomes worth less. Print even more and it continues to drop. At some point it will become worthless. Read about Germany's Weimar government of the 1920s to get a glimpse of what it could be like here...[CLICK TO READ FULL POST]

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