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Old 03-20-2013, 08:21 PM   #32
BucEyedPea BucEyedPea is offline
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Quote:
Originally Posted by LoneWolf View Post
We all know that inflation is going to eventually rear its ugly head and then the standard of living will definitely decrease, but I don't see how his applies to production and productivity. The U.S. government isn't printing money to purchase consumer goods. They are printing money to pay the interest payments on the debt and to keep the government and all its programs running.
It's been happening...it's not going to happen. It's just going to get worse.
Both production and productivity get affected by printing of money which is not real wealth. It's theft.

Oh, btw:

Quote:
At Notre Dame, where Mr. Novak and I went to school, things have gone so far to the left in the economics department that a significant number of professors insist that a second department of "mainstream economics" be established to give the school some credibility in the field. The South Bend Tribune reports, with a straight face, that "David F. Ruccio, a prominent Marxist economist in the department," objects because this proposal would "marginalize an entire department of economists who are committed to pluralism and social justice."

Christopher Manion
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