The downsides of big banks

darkmarlin92 said:If FDR lived on credit, we're living on hyper-credit.
Yeah, everyone has a TV, a smartphone, a car: but when you add up all your monthly bills, what’s left from an average American salary? You guys are talking nonsense, watching too many movies like Wall Street and closing your eyes when you walk through downtown, ignoring all the poverty and people scavenging through trash. I doubt it was like this just a few years ago. It's obviously the same in Europe, too. What do you think? I bet some "smart" book tells you to ignore poverty if you want to be a real leader. Hahahaha.🤣
You know it's proven that the world's strongest leaders today are basically brainless when it comes to investing. Why are they so successful? Because instead of brains, they've got balls. And I guess that's what works for you guys. 🤷

Yeah, built for our upcoming generations

The only person talking nonsense here is you 😉
You watch some mindless movie, get sucked into conspiracy theories, have absolutely no clue what's going on, and now you're posting stuff that has nothing to do with the actual topic...

It's pretty obvious you aren't even interested in what you originally asked, it's just too heavy a subject for you, probably requires reading way too many books

And what exactly was left over from an average salary back in the old days?
Prices were higher, and everyone simply had less to work with 😉
Now, people actually have a lot more purchasing power for the same amount of cash
Except for cars, of course, and even then, whether it was then or now, a car usually costs about ten times a monthly paycheck

Just because you didn't notice something doesn't mean it wasn't happening... there have been people making a living off scrap and recycling for decades, honestly that's where the real money is made

If there weren't those government rebates and incentives, you wouldn't see them digging through the bins nearly as often 😉
Besides, where on earth do you live that there are even trash bins sitting out in the middle of a public square?
I have to admit, I haven't really seen that myself

Wow, look at you, you've read so many books, such incredible information

Why should I even bother worrying about other people? 🤷
I don't care, I look out for myself and the people who actually matter to me

Go ahead, show me your "evidence," I certainly didn't know that
I already know that people missing a few brain cells tend to end up working in certain government institutions

And yeah, among the folks collecting bottles and cans, there are definitely some like that too, which is just a disgrace to the whole country

Richard Lewis16 said:WRONG

It isn't really about the money, it's more about that fundamental human drive to exert influence and feed the ego...
which is just part of being human, I suppose, the way some people naturally dominate while others follow...

if currency didn't exist, we'd just be fighting over rocks, land, or sheer clout (though, wait, looking closer, it seems like those things are still acquired through cash, see how it works... 😬 )

maybe try picking up a few books from different fields once in a while... psychology and biology might help clear things up... 😉

you say there's no manufacturing, but then you claim production is coming from other countries?
so there actually is production after all... 😬
and if there's production, then there are jobs... 😉

I'd also suggest checking out that series, Carlos 😉

I feel like if someone holds that much power, they can't just make huge calls affecting everyone without explaining themselves and getting some kind of buy-in from the public. Capitalism basically lets them get away with it.

Richard Lewis16 said:WRONG

It isn't really about the money, it's more about that fundamental human drive to exert influence and feed the ego...
which is just part of being human, I suppose, the way some people naturally dominate while others follow...

if currency didn't exist, we'd just be fighting over rocks, land, or sheer clout (though, wait, looking closer, it seems like those things are still acquired through cash, see how it works... 😬 )

maybe try picking up a few books from different fields once in a while... psychology and biology might help clear things up... 😉

you say there's no manufacturing, but then you claim production is coming from other countries?
so there actually is production after all... 😬
and if there's production, then there are jobs... 😉

I'd also suggest checking out that series, Carlos 😉

It just shows how broken and toxic the whole system is. Look at the state of things here in the States, people just end up hating each other because they're divided by money and whatever else. Humanity won't last much longer like this. Really hoping for a turnaround soon.

Richard Lewis16 said:WRONG

It isn't really about the money, it's more about that fundamental human drive to exert influence and feed the ego...
which is just part of being human, I suppose, the way some people naturally dominate while others follow...

if currency didn't exist, we'd just be fighting over rocks, land, or sheer clout (though, wait, looking closer, it seems like those things are still acquired through cash, see how it works... 😬 )

maybe try picking up a few books from different fields once in a while... psychology and biology might help clear things up... 😉

you say there's no manufacturing, but then you claim production is coming from other countries?
so there actually is production after all... 😬
and if there's production, then there are jobs... 😉

I'd also suggest checking out that series, Carlos 😉

Man, you guys are so educated and self-aware it's actually wild. Why even talk about books with you economists? You guys quote literature constantly.🤣

Richard Lewis16 said:WRONG

It isn't really about the money, it's more about that fundamental human drive to exert influence and feed the ego...
which is just part of being human, I suppose, the way some people naturally dominate while others follow...

if currency didn't exist, we'd just be fighting over rocks, land, or sheer clout (though, wait, looking closer, it seems like those things are still acquired through cash, see how it works... 😬 )

maybe try picking up a few books from different fields once in a while... psychology and biology might help clear things up... 😉

you say there's no manufacturing, but then you claim production is coming from other countries?
so there actually is production after all... 😬
and if there's production, then there are jobs... 😉

I'd also suggest checking out that series, Carlos 😉

Idk why we wouldn't be making stuff, like cars... maybe open a Ford plant or something. But nah, we can't. Too expensive! Plus, China is a way bigger market than us.🤷
zero jobs though...

Richard Lewis16 said:The only person talking nonsense here is you 😉
You watch some mindless movie, get sucked into conspiracy theories, have absolutely no clue what's going on, and now you're posting stuff that has nothing to do with the actual topic...

It's pretty obvious you aren't even interested in what you originally asked, it's just too heavy a subject for you, probably requires reading way too many books

And what exactly was left over from an average salary back in the old days?
Prices were higher, and everyone simply had less to work with 😉
Now, people actually have a lot more purchasing power for the same amount of cash
Except for cars, of course, and even then, whether it was then or now, a car usually costs about ten times a monthly paycheck

Just because you didn't notice something doesn't mean it wasn't happening... there have been people making a living off scrap and recycling for decades, honestly that's where the real money is made

If there weren't those government rebates and incentives, you wouldn't see them digging through the bins nearly as often 😉
Besides, where on earth do you live that there are even trash bins sitting out in the middle of a public square?
I have to admit, I haven't really seen that myself

Wow, look at you, you've read so many books, such incredible information

Why should I even bother worrying about other people? 🤷
I don't care, I look out for myself and the people who actually matter to me

Go ahead, show me your "evidence," I certainly didn't know that
I already know that people missing a few brain cells tend to end up working in certain government institutions

And yeah, among the folks collecting bottles and cans, there are definitely some like that too, which is just a disgrace to the whole country

Haha, so now you've got one of those miracles. I guess unless you're some college kid, you gotta work tomorrow, right? Or just sit at home, spend money, do nothing, chill out and not care. mannnn...

Richard Lewis16 said:The only person talking nonsense here is you 😉
You watch some mindless movie, get sucked into conspiracy theories, have absolutely no clue what's going on, and now you're posting stuff that has nothing to do with the actual topic...

It's pretty obvious you aren't even interested in what you originally asked, it's just too heavy a subject for you, probably requires reading way too many books

And what exactly was left over from an average salary back in the old days?
Prices were higher, and everyone simply had less to work with 😉
Now, people actually have a lot more purchasing power for the same amount of cash
Except for cars, of course, and even then, whether it was then or now, a car usually costs about ten times a monthly paycheck

Just because you didn't notice something doesn't mean it wasn't happening... there have been people making a living off scrap and recycling for decades, honestly that's where the real money is made

If there weren't those government rebates and incentives, you wouldn't see them digging through the bins nearly as often 😉
Besides, where on earth do you live that there are even trash bins sitting out in the middle of a public square?
I have to admit, I haven't really seen that myself

Wow, look at you, you've read so many books, such incredible information

Why should I even bother worrying about other people? 🤷
I don't care, I look out for myself and the people who actually matter to me

Go ahead, show me your "evidence," I certainly didn't know that
I already know that people missing a few brain cells tend to end up working in certain government institutions

And yeah, among the folks collecting bottles and cans, there are definitely some like that too, which is just a disgrace to the whole country

Sex work is a perfect business, you know, the money is great...

Richard Lewis16 said:The only person talking nonsense here is you 😉
You watch some mindless movie, get sucked into conspiracy theories, have absolutely no clue what's going on, and now you're posting stuff that has nothing to do with the actual topic...

It's pretty obvious you aren't even interested in what you originally asked, it's just too heavy a subject for you, probably requires reading way too many books

And what exactly was left over from an average salary back in the old days?
Prices were higher, and everyone simply had less to work with 😉
Now, people actually have a lot more purchasing power for the same amount of cash
Except for cars, of course, and even then, whether it was then or now, a car usually costs about ten times a monthly paycheck

Just because you didn't notice something doesn't mean it wasn't happening... there have been people making a living off scrap and recycling for decades, honestly that's where the real money is made

If there weren't those government rebates and incentives, you wouldn't see them digging through the bins nearly as often 😉
Besides, where on earth do you live that there are even trash bins sitting out in the middle of a public square?
I have to admit, I haven't really seen that myself

Wow, look at you, you've read so many books, such incredible information

Why should I even bother worrying about other people? 🤷
I don't care, I look out for myself and the people who actually matter to me

Go ahead, show me your "evidence," I certainly didn't know that
I already know that people missing a few brain cells tend to end up working in certain government institutions

And yeah, among the folks collecting bottles and cans, there are definitely some like that too, which is just a disgrace to the whole country

🤷 that's what makes us human, isn't it?

Richard Lewis16 said:The only person talking nonsense here is you 😉
You watch some mindless movie, get sucked into conspiracy theories, have absolutely no clue what's going on, and now you're posting stuff that has nothing to do with the actual topic...

It's pretty obvious you aren't even interested in what you originally asked, it's just too heavy a subject for you, probably requires reading way too many books

And what exactly was left over from an average salary back in the old days?
Prices were higher, and everyone simply had less to work with 😉
Now, people actually have a lot more purchasing power for the same amount of cash
Except for cars, of course, and even then, whether it was then or now, a car usually costs about ten times a monthly paycheck

Just because you didn't notice something doesn't mean it wasn't happening... there have been people making a living off scrap and recycling for decades, honestly that's where the real money is made

If there weren't those government rebates and incentives, you wouldn't see them digging through the bins nearly as often 😉
Besides, where on earth do you live that there are even trash bins sitting out in the middle of a public square?
I have to admit, I haven't really seen that myself

Wow, look at you, you've read so many books, such incredible information

Why should I even bother worrying about other people? 🤷
I don't care, I look out for myself and the people who actually matter to me

Go ahead, show me your "evidence," I certainly didn't know that
I already know that people missing a few brain cells tend to end up working in certain government institutions

And yeah, among the folks collecting bottles and cans, there are definitely some like that too, which is just a disgrace to the whole country

yeah, like having two kids struggling through college, or grandkids with zero future because they're trying to work their way up but there aren't any jobs left. they're stuck doing whatever they can just to survive, you know? you just live until you die and nobody really gives a damn. no growth, no nothing, everyone just looks the other way. pretty sad

Man, you’re such a total troll... your politics are a mess and your takes on teenagers are even worse 😉

Honestly, this thread should probably just be locked because it's pretty obvious you don't actually care about the question you asked

Just take your nonsense elsewhere, maybe head up to a different sub or something
besides, cannibals are still people, and the people running those camps are people too 😉
why on earth would they have two kids instead of just one 🤷
and why do both of them need a college degree when they could just work a shift at a Ford plant starting at 5 PM like back in the day?

Go ahead and lock this... it's just some frustrated kid who doesn't know anything, just spouting empty demagoguery he read on some random Wikipedia page

Richard Lewis16 said:Man, you’re such a total troll... your politics are a mess and your takes on teenagers are even worse 😉

Honestly, this thread should probably just be locked because it's pretty obvious you don't actually care about the question you asked

Just take your nonsense elsewhere, maybe head up to a different sub or something
besides, cannibals are still people, and the people running those camps are people too 😉
why on earth would they have two kids instead of just one 🤷
and why do both of them need a college degree when they could just work a shift at a Ford plant starting at 5 PM like back in the day?

Go ahead and lock this... it's just some frustrated kid who doesn't know anything, just spouting empty demagoguery he read on some random Wikipedia page

Can someone explain interest rates? Is it basically just a bonus paid to a bank for taking the risk of lending money to people or businesses? And are interest rates on savings accounts and loans the same if we look at a long period, like 10 years? For example, a 10-year loan vs. putting money in a 10-year CD?

You're just being contrarian, trying to turn this whole thing into a joke to shut me down. You totally missed the point.
The topic is literally: The Dark Side of Banking. So if all you can do is praise banks, don't spread misinformation just because the topic doesn't fit your narrow view. Let's actually start by figuring out what interest really is.

Look, this is a forum, right? So I figure I can just drop questions here since I'm still pretty lost on everything. You guys either answer me or you don't. If I totally misunderstood what this place is actually for, my bad.

darkmarlin92 said:And then we can't do anything because we're buried in debt—we owe something like $45 billion while the whole budget is barely over $100 billion. Imagine that debt growing every single year just because people are borrowing more since they can't even afford the basics anymore, all while the government throws money at nonsense like handball arenas. It's pretty obvious. Debt keeps climbing, and interest payments get higher compared to what our weak economy and country can actually handle.
We should be building up state-owned companies instead of bringing in foreign corporations that don't give a damn about our people.

That's why Americans are one of the most emigrated nations, honestly.

yeah, exactly. that's not the point.

The federal budget for this year (on the spending side) is set at roughly $16.5 billion—and our foreign debt is hovering somewhere around $46 billion.

You aren't being quite pessimistic enough! 😉