I had a conversation with a friend recently....
"-" denotes what I said. "=" denotes what he said.
= The government is shutting down this Friday. Can you believe it?
- Really? I didn't know that.
= Oh yeah, every government job is getting shut down. I just don't see why they can't print more money!
- Because that will cause... (cuts me off).
= Inflation I know. Whatever that means. It doesn't make sense to me.
-Well, if you print more money the monetary value decreases. It becomes less valuable. The more scare the resource, in our case money, the more it is worth. Just like pearls, or gold.
= Yeah, they should just print more money.
First of all, how did I not know that the gov't was shutting down? I feel just as ignorant as him, who hasn't taken an economic class or really wants to. But then again, why wasn't this mentioned in any of my classes? Not a big deal?
Feel free to chime in Burke, on inflation. You did go toe to toe with Baker right?