[Grovenet] Another anti-science Republican screed ? ? ? ?

[Steven]

Say you got a $400k house that is now worth $200k.
Everything will inflate. So that $200k house will sell for $400k. Thus they
sell and pay off the mortgage. Thus the banks are saved from their toxic
loans.
Won't help us a bit. Your retirement fund will be worth more, but buy less.
Have you noticed they aren't bailing out us taxpayers?

> -----Original Message-----
> From: grovenet-bounces at rdrop.com [mailto:grovenet-bounces at rdrop.com]On
> Behalf Of Walt Wentz
> Sent: Friday, February 27, 2009 9:22 AM
> To: Forest Grove local interests list
> Subject: Re: [Grovenet] Another anti-science Republican screed ? ? ? ?
>
>
> Uh... Steven, if we suffer 20% inflation for five years, how would
> owners of homes (those who hadn't been forced out by foreclosure
> after they lost their jobs) be able to sell at "break-even?"  If a
> dollar five years from now will only be worth 17 cents and a Yoo-Hoo
> bottle cap,  where's the break-even return?
> Weimar Germany used to be the poster child of the blessings of
> inflation, but now we have Zimbabwe...
> Walt