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Charles Wukasch's avatar

The way a friend explained the concept of interest to me ages ago is interesting. He made the following analogy: Think of interest as "renting" money. In other words, someone might say to a prospective lender: "I need to rent $10,000 for a year. What will it cost me?"

On a different note, when we talk about the "national debt," we're in reality talking about paper money. Governments can always rev up the printing presses and print more money.

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Julian Cohen's avatar

Can we all agree, that this will fail to sound like sage advice. The most important thing to looking far in the future, is to look up close. It is a start, at least. Now our politicians will say, yes it is a start, to us looking to the future, but I will call their bluff. If it was a start, then long term politicians like Diane Fienstein would start working towards the future. But, since political party and one's immediate needs take precedent today, nothing will get done, ever. This was the sage advice from a 16 year old. Peace out.

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