Larry Griswold, a comic takes a dive

The first frame of this vid says "Larry Griswold, Frank Sinatra Show, November 13, 1951." ( Frank Sinatra had a TV show? )

The guest, Larry Griswold, was a comic who was also an acrobat, and he did an amazing bit on a diving board. Ya gotta see it to believe this guy's dexterity.

A tip of the hat to PH Factor for the link.

Comments

[Tessa]

I think people are asginat the trade deficit because they don't understand where money comes from. They think there are a finite number of dollars and if we give too many dollars to china we won't have enough here in the US. This is a mistake. The monetary system is not a zero sum game. Banks create money when they lend it. They can lend out more money than they have in deposits. This creates money. If I buy something from china and add value to it, that increases the money supply in the US because I can borrow money on the value I added.If I borrow $100 to buy widgets from china and I convert them to super-cogs worth $1000, I can then borrow $900 from the bank. Where did that $900 come from? The bank could create that money because I created value when I made super-cogs. I can then use the $900 to pay my employees and pay the bank back as I sell my super-cogs. In this way $900 is added to the economy here in the US even though I sent $100 to china.