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If you’re analyzing it that broadly then the interest on the CC debt will also be a profit for the bank which will distribute it across its workers and sharehol
by kubb 2y ago
If you’re analyzing it that broadly then the interest on the CC debt will also be a profit for the bank which will distribute it across its workers and shareholders, and those people will also use it for consumption. It’s just a wealth transfer from the poor, and impulsive to the rich and clever.
- Retric 2y agoSome shareholders in public companies are guaranteed to be outside the US. Similarly wealthy people are more likely to spend money on goods and services outside the US.