Keeping the muzzle pointed in a safe direction since 2008
It was saving when interest was paid on it. There is no incentive to save when the interest paid is below 1% and the bank reports the piddling little amount to the IRS."Hoarding" simply means saving without reporting to the government.
Savings used to be the foundation os capitalism. only saved wealth can be invested in creating projects that will create more wealth. A new factory does not get built by one man's private efforts. He borrows the savings from others and agrees to pay it back, with interest.No savings = no capitalism. Capitalism is not about trade or free markets. It is about CAPITAL.
Bob,I disagree, whether it's in an interest bearing account or stored under the floorboards in the attic, it's still savings.ASM826
Damn Hoarders and Wreckers.
My bank pays me $0.01 cents per month on my checking. What should I invest in?
N95 masks and canned beans, I think.
Bill, looks like you invested in the bank. They in turn loan your money out.
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