Have you heard this really really really stupid argument?

[bryant69]

It's been around for a while; a This Modern World referenced it way back when when Clinton was President and NAFTA was Passed. And this very day I heard it from that hack, Walter E. Williams, subbing for Rush Limbaugh at the Rush Limbaugh Show. Here goes.

"There's no reason to worry about money flowing out of the United States, because we pay people in American Dollars. American Dollars are only good in America, so even if we send it to China (for example), the money comes right back."

This is a little like a physics theory I had when I was six. I theorized I could put holes in a boat from the front to the back, then water would flow through the holes and propell the boat along, kind of like a rocket. Of course I didn't stop to think why water would magically flow through those holes or how it would speed past.

Fortunately as I grew up I realized you can't get something for nothing; and I also realize that if you give someone else your money, he or she then has your money.

Bryant
Check it out --> http://politicalcomment.blogspot.com

[EST]

1. TANSTAAFL

There ain't no such thing as a free lunch. These dumb bastards did not attend any classes on practical economics. They are jerks...period

[gravitas87]

8. Walter Williams

Dr. Walter Williams is an economics professor at George Mason University. I doubt he is a "dumb bastard".

[EST]

9. Dumb as in no reality-based knowledge as to the

results of defective, wish fulfillment economic notions. After the travesty of yesterday's economic warfare forced on real people by the rape-public-an strong arm tactics, I am a bit unpleasant is my opinions of of people whose proclivities run to such nonsense. Having a tooth extracted yesterday afternoon doesn't add to my patience quotient, either.

[newyawker99]

10. Hi gravitas87!!

Welcome to DU!! :toast:

[NoPasaran]

2. Not only is it stupid, it's also untrue

American dollars actually are good in places other than America, often being preferred to local currencies of shaky reputation or convertability. Sounds like Oxyrush's stand-in has a mental age of about six.

[Caria]

3. Yes, from the same person

who first told me that legalization of gay marriage would force all churches to perform marriage ceremonies for gays. Whenever I hear that one, I point out that no one is forcing churches to perform ceremonies for non-Christian heterosexual couples now. Duh!

MY problem is that I find it very hard to argue "respectfully" against such stupid sh*t.

[getmeouttahere]

5. Then argue disrespectfully...

screw 'em, they'll probably keep on believing what they want anyway. At least you let them know that you think they are morons for thinking that way.

[Greenbeard]

4. Idiots that never leave the country

just returned from Ecuador where the US dollar is the national currency.

Sad thing is that these idiots can lie all day long and a large group of people believe everything they say.

[geek tragedy]

6. There are currency exchanges around the world, morans.

And there are bank accounts around the world with US currency in them.

Crikey.

[MrMonk]

7. $ are good whereever someone will accept them

Huge international transactions are almost always made in one of the major currencies, including dollars. Other countries hold trillions in dollars, and they spend them anywhere they please.