Posted by Brendon-KS on February 05, 2023 at 17:51:51 from (63.245.145.17):
In Reply to: Re: High prices posted by RobCons on February 05, 2023 at 14:37:56:
A very large percentage of the money you see floating around an economy was created by debt. If I walk into the bank and take out a $10,000 loan the money appears in my account but it didn't come from anywhere. The bank is only required to have a small percentage of the money they loan out actually available on hand so it's not like the $10,000 got moved from the bank's account to my account. It simply gets created out of nothing and appears in my account, ready for me to spend on whatever I want. The total amount of money circulating around the economy is continually increasing as more money gets created this way which is why inflation steadily increases over time.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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