I charged $1,000 on my credit card last year and didn't pay any of it off, so I owed $1,000 (not counting interest).
I charged another $1,000 this year and still didn't pay any off. But...
because the rate of inflation was 3% I didn't actually charge $1,000. And here's what makes it really cool...even though I now owe $2,000 plus interest, because of inflation that's actually less than the $1,000 I owed last year!!!
I can keep borrowing $1,000 every year, and I don't have to ever pay anything back because with inflation the total amount I owe will keep decreasing.
Fucking RACK me. The banks are gonna love this.
mvscal Economics 101
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ElvisMonster
- savvy fashionista
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Mister Bushice
- Drinking all the beer Luther left behind
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Mikey,
If you let me borrow 500 bucks, you'll owe even less.
Trust me. ;)
If you let me borrow 500 bucks, you'll owe even less.
Trust me. ;)
If this were a dictatorship, it'd be a heck of a lot easier, just so long as I'm the dictator." —GWB Washington, D.C., Dec. 19, 2000
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