Ban compound interest to save the planet
Straight from the madness of the Times to you.
Compound interest has been with us so long that we take it for granted. We borrow money and accept that we must pay interest to compensate the lender.
But look what happens. If we pay 3% on 100 then at the end of the first year we should pay back 103. If we fail to repay that then we must also pay 3% on the 103. This seems innocuous but the debt increases exponentially. A debt left unpaid, at 3%, doubles every 24 years. At 6% it doubles in 12 years.
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Another lets save the planet sycophantic rant .. read the comments and laugh along.