----------------- HES POSTING ----------------- Economists have long recognized that financing deficits through debt-monetization leads to hyperinflation and financing deficits by borrowing leads to an onerous public debt. Argentina's government ran up a huge foreign debt, much of it denominated in dollars no less, as a means of financing its fiscal pump-priming and destroyed its economy as a result. This knowledge is probably as old as economics itself. Chas ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]