Reply #19: Exactly. The Mogambo Guru had a good rant about this yesterday

[magellan]

Mind you I don't agree with the Great Mogambo Guru (GMG) on everything; he's a solid libertarian. But his perspective on what BushCo and the Repubs are doing to the economy has been dead on for the two years I've been reading him. (In fact anyone not in thrall to the RW has seen their devastating economic/monetary policies for what they really are, for years. But I digress.)

Here he is in all his glory:

A reader of Agora Financial's 5-Minute Forecast wrote, "You spend a lot of time talking about the loss of purchasing power of the dollar - and rightly so. Therefore, I fail to see the problem with anyone spending dollars as quickly as possible and incurring debt. That dollar spent today will be worth less, if not worthless, tomorrow, and the dollar repaid will be of lower value than the dollar borrowed. Can't have the argument both ways."

I was hoping that someone would ask me to field that question, as I was really champing at the bit at the sight of a potential target for a test-drive of Random Mogambo Attack Mode (RMAM), where I take strange, unnatural delight in punishing stupidity by being rude, sarcastic, insulting, arrogant, argumentative and truly hateful, as is implied by the words "Attack Mode".

And my reply would have been a real bargain, too, as it was a "two-fer"; not only would I have rebutted the argument, but I would have also been entertaining in a horrifying, embarrassing way, for no extra charge! Free!

For those who wish to hear my entire reply, I have handily expurgated the screaming obscenities, malicious lies, various libels, incoherent words and phrases, personal attacks and random death threats, and now the entire 50-page essay is boiled down to just the paragraph, "If you can guarantee that you will have an income that will rise faster than inflation, interest and taxes for the rest of your future life as your debt rises for the rest of your future life, then you are right; borrow as much as you want and party down, dude! You will, indeed, be paying back with cheaper dollars, handing yourself a bargain in the process, which is no problem for you because you are so smart and important that your employer will no doubt be happy - happy! - to pay you more and more wages and benefits at a rate that is actually higher than inflation in prices and taxes, for all the rest of your life! Lucky you!

http://www.dailyreckoning.com/Writers/Mogambo/DREssays/MG031708.html