will money be that hard to raise, page-3

Dub / Greg... et al...

I believe you are a tad too cynical. Its not exactly as simple as believing that money supply is the be-all and end-all of economic growth. Its actually the velocity of money (M3 multipliers) that create growth (M3M>[Real-M3] = GDP Growth), etc. If you think about the capitalist model in which we all operate, interest rates are the mechanism of transfer from those "with" stored resources (wealth, beinig consumption forgone) and those "needing" resources (those who wish to consume now, pay later - which is actually most of us). Weath is actually transferred between the haves and have-nots either via debt or equity. What lower interest rates do is force those with wealth to take equity [interest] in the production process through the investing in businesses. And as we know, the multipliers associated with business production (go back to basic Keynesian economics on this one) are greater than those associated with the debt/consumption side. Simple really when you think about it this way.

Kit