"DSK" wrote in message
...
"Walt" wrote
the debt fairy is coming along any day now?


The bad news, he's engaged to the foreign-policy fairy.


Gilligan wrote:
Why is borrowing money at historically low interest rates so bad?


It wouldn't be so bad, if the money were spent on something constructive
that offered future returns.


Especially if followed by a growth in the money supply that exceeds the
increase in the GNP?


??? Increasing the gov't debt has very little to do with increasing the
money supply. And the increases in GNP have rather paltry, lately. And
this is after starting a war, traditionally a great way to goose a
national economy; and eliminating all those pesky environmental
regulations, which should also give a boost. What's up with that?

Pay the debt with inflated currency.



Besides, everybody knows that those darn libby-rull Democrats are the ones
who don't know beans about the economy. Now that they're in charge, just
LOOK at the deficit!

This thread got side tracked somehow. What I started out to say, for 1
ASA/economist point, can anybody answer what economic theory did Friedman
produce? 2 points if you can explain it.

I don't think he produced any new economic theory but rather contributed
deeper understanding and refinement to old ones.



DSK