So you have a credit card and you run it up to the limit.
Then all the purchases of everything you buy in life after that are only what you can afford after paying that principle and interest. In effect for everything you buy, once you have that balance, the banker gets the same thing, and he has not done any work to earn it. He is just the guy that gets to sit in the clerk window, gazebo, ticket box or whatever it is called.
It just goes to him. If he could reinvest it then you would earn interest on your money comparable to that which you pay; but we know that he can't or you would.
I also believe that the Untied States Citizen should earn a higher rate on his daily interest than any foreign county does on our debt! I don't see how any legitimate American can't agree with that.
Thomas Paul Murphy
Originally published on 04 19 2015 at: www.themilwaukeeandwisconsinnews.blogspot.com