Re: “Trump’s ‘Golden Dome’ Missile Shield Expected To Cost $500 Billion”

On Tue, 3 Jun 2025 20:37:43 +0100, Robert Carnegie
<rja.carnegie@gmail.com> wrote:

On 03/06/2025 18:55, William Hyde wrote:

Paul S Person wrote:

On Mon, 2 Jun 2025 18:16:04 -0400, William Hyde <wthyde1953@gmail.com>
wrote:

<snip-a-bit, desperately trying to make it easier to tell
who-said-what>

The Liberal government eliminated the debt in five years, and we had
surpluses up to the Wall Street crimes of 2009.

 
Again, "defect".  I really should proofread these.

>
Deficit?  "The amount by which expenditures
or liabilities exceed income or assets."
In government, deficit means borrowing money,
i.e. increasing your debt.  If you have a lot
of debt, then borrowing more money is hard
to justify.
>
A government can just print more money, yes.
But it seems to be generally believed that that
doesn't work.

Sounds like a "pro gold standard" slander. The idea being that, if the
Gold Standard were in effect, the amount of money would be limited to
the value of the gold.

Actually, the amount of gold only fixes the amount available for
things like rent and interest. Actual goods are financed through bank
loans -- which are banks creating money backed by the goods to be
produced. Gold doesn't limit anything until the amount available
forces things like rent and interest to be reduced because there isn't
enough gold to spread around (in the form of gold-backed currency).

And I don't want to hear "we just revalue the gold". Gold-standard
advocates who say /that/ have severe cognitive and logic errors. You
can't revalue the standard. The whole point of a monetary standard is
that is was, is, and always shall be the same value.

That said, hyperinflation /is/ clearly possible and to be avoided.
--
"Here lies the Tuscan poet Aretino,
Who evil spoke of everyone but God,
Giving as his excuse, 'I never knew him.'"