Scalise: You cant keep printing money and expect that to solve the problem
by on in Business News
House Minority Whip Steve Scalise (R-La) talks stimulus checks and the importance of bringing P.P.E. back to the U.S.
| Source: | https://rightwingvideos.com/scalise-you-cant-keep-printing-money-and-expect-that-to-solve-the-problem/ |
| Published: | May 3, 2020 |
| Author: | Fox Business |
| Post Date: | 2020-05-03 19:42:37 by BTP Holdings |
| Views: | 2116 |
Scalise: You cant keep printing money and expect that to solve the problem
by on in Business News
House Minority Whip Steve Scalise (R-La) talks stimulus checks and the importance of bringing P.P.E. back to the U.S.
#1: DWornock To: BTP Holdings (#0)
DWornock posted on 2020-05-04 13:34:16 Reply Private Reply
#2: BTP Holdings To: DWornock (#1)
That is quite simplistic.
Are you aware that the more money that is printed means there is more money chasing fewer goods? Do you realize exactly what inflation is and what it means?
A good example would be Weimar Germany in the 1920s where they needed a wheel barrow of Deutsch Marks to buy a loaf of bread.
Don't think it cannot happen here. ;)
BTP Holdings posted on 2020-05-04 13:50:54 Reply Private Reply
#3: IRTorqued To: BTP Holdings, DWornock (#2)
except that is what your idol donnie is doing.
IRTorqued posted on 2020-05-04 19:13:20 Reply Private Reply
#4: DWornock To: BTP Holdings (#2)
With technology improving by leaps and bounds, inflation is rare. What is called inflation is the devaluation of the money. In the last 100 years, the dollar has lost over 98% of its value. However, although it does fluctuate, gold has maintained its value. 100 years ago at $20 per ounce, an ounce of gold would purchase 20 days of common labor at a $1 a day wage or the finest men's wool suit. At minimum wage, an ounce of gold will still buy 20 days of common labor and it will still buy the finest men's wool suit at Saks or Neiman Marcus.
DWornock posted on 2020-05-04 19:53:39 Reply Private Reply
#5: DWornock To: IRTorqued (#3)
That is why I say, money printing will work until it doesn't. It has been working for close to 100 years. I have no idea how much longer money printing will work, but I suspect less than another 100 years and perhaps less than another 5 years. Then the money will be its real value; that is, the paper it is printed on.
DWornock posted on 2020-05-04 20:00:09 Reply Private Reply