Welcome again to everybody! Make yourself at home. Ho ho ho. In the time-honoured tradition of our group, here is our weekly discussion thread!
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After reading some Michael Hudson, i can say that i’m terrified of the ‘magic of compound interest’. Right now in Mexico interest rates and bond returns are > 10%, there is no way this is sustainable.
So returns will double every 7.2 years. Scary shit for people servicing loans.
Really exposes the inherent contradictions of finance capitalism. How can a system based on debt continue to exist if debt can balloon far faster than anybody’s ability to repay it?
It is just a big ass ponzi scheme if you think abt it.
And one day we will default and the banks will take our assets. Saddest thing is that it already happened in the 80s and we are just running towards another one once again.
How did you calculate it?
There is no math involved, it’s what the bond returns look like officially and the rates banks give u when u invest. 10% interest means that with the magic of compound interest, you double the money u invest in 7 years.