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The world is a lot more complicated than that.
In modern finance we have a lot of different options that imply all sorts of economic, financial, political, game theoretic, and other other aspects, so there is no clear answer to this sort of question.
It is a misrepresentation to talk about things so simply.
@duckwhistle @Skembear @PamCrossland@mastodon.world @PBruce
@volkris @DrALJONES @duckwhistle @PamCrossland @PBruce None of it is designed to allow the layperson gain a full understanding of how it all works collectively. My initial post was more about giving high school a basic understanding of economics on a micro level, to prepare them for the onslaught of potential, unsustainable debt as young adults. If you have the bank of mum and dad, you are more or less fine, but so many kids don't have that and credit cards, HP are treasure chests for them