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Name:	GoneFishin -	Reply
Subject:	CHECK NUMBERS ON YOUR DOLLARS
Date:	4/19/2009 3:20:53 PM

Here is an interesting article in todays edition of the New York Times. Before you denounce it as a typical liberal article from the NYT, understand it was written by N. Gregory Mankiw a professor of economics at Harvard. He was an adviser to President George W. Bush.

URL: http://www.nytimes.com/2009/04/19/business/economy/19view.html?_r=1&em=&pagewanted=print

Name:	alahusker -	Reply
Subject:	Way too cranial for me..
Date:	4/19/2009 5:19:52 PM

However, comma, when GM hit's $1.50 a share I'm in again and will likely buy a new Z-71 4X4 P/U.. Forget hope and change, I'm kinda into the faith deal right now..

Name:	GoneFishin -	Reply
Subject:	alahusker and catboat
Date:	4/19/2009 5:25:58 PM

You guys need to get together and help stimulate the econony. Husker, Cat is Sales Manager of a nearby Chevy dealer.

Name:	CAT BOAT -	Reply
Subject:	Uh Huh....
Date:	4/19/2009 6:38:54 PM

Buy truck NOW... Or break your boat.. Kidding of course. Yall remember, If it's not CAT it's a DOG.

Name:	MartiniMan -	Reply
Subject:	CHECK NUMBERS ON YOUR DOLLARS
Date:	4/19/2009 8:35:20 PM

Interesting idea and I don't see it as a liberal or conservative issue. Its really a question of whether it would work, what are the unintended consequences and could it really be implemented. Just off the top of my head I can imagine a number of problems.

First of all they would rely on holders of cash to choose a negative 3% interest rate versus negative 10% holding currncy no longer of value. But no one really holds currency other than the Fed and the reserves at banks. In essence it would simply mean that every bank account, every treasury fund, etc. would be reduced in value by 10%. So if you lend the money at -3% before it is devalued wouldn't the recipient see what they borrowed drop by 10%? This would have to be implemented at a date certain and people will behave one way before devaluation and an entirely different way before.

Second, if I had $100M in U.S. dollars that was going to be devalued 10% I would simply convert my dollars to Euro's the day before and back to dollars the day after. The people who would lose would be the tens of millions of small savers that are not that sophisticated.

Finally, and this is the last one off the top of my head, they assume that the dreaded last number on a dollar is equally distributed to someone that has dollars. For example, they assume that 10% of every dollar I own ends in the number 3 and those are no longer any good. What if only 2% of my dollars end in three? Or worse, what if 30% did?

I am sure economists could try to come up with some way to overcome these and the zillion other potential problems. In any event, this will never happen although it was a good mental exercise.

Name:	alahusker -	Reply
Subject:	Have strong feelings both ways
Date:	4/19/2009 8:44:25 PM

Going to stop by Rite Aide for a case of Millers Lite and will have the answer tomorrow.. (assuming the crappie bite has slowed.)

Name:	wix -	Reply
Subject:	CHECK NUMBERS ON YOUR DOLLARS
Date:	4/19/2009 8:58:21 PM

Gee, back in the last century, the US would change the look of the currency in Vietnam ever so often and really screw up the black market, prostitutes, etc. by simply declaring the existing currency void without warning. Wonder how many drug dealers, Mexicans, etc, we could screw into helping us bail out this rather stupid economy. Since business is cyclical, why is a recession something so terrible--unless you're a liberal, trying to get re-elected (THE MOST IMPORTANT THING ON EARTH).

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