> Earning mere interest is a poor rate of return You're looking at just the APY on savings accounts. Actually the rich make far more than that on interest-deri

> Earning mere interest is a poor rate of return You're looking at just the APY on savings accounts. Actually the rich make far more than that on interest-derived financial products through various forms of rent-seeking. Interest is the hidden tax baked into every transaction. Some studies found interest accounts for roughly half of end-user prices—12 percent on garbage collection, up to 77 percent on public housing.[1] And as Musk warns: “If we don’t act, the entire government budget will be used just to pay interest — there won’t be money for anything. No, there won’t be money for Social Security, no Medicare, nothing. That’s where we’re headed.” [2] In the late-stage capitalist West, most public and private money goes to servicing interest at some point in the food chain. [1] https://base.socioeco.org/docs/margrit_kennedy.pdf https://base.socioeco.org/docs/margrit_kennedy.pdf [2] https://economictimes.indiatimes.com/news/international/us/elon-musk-rings-alarm-bells-says-the-u-s-is-going-bankrupt-and-urges-immediate-action-else-the-dollars-going-to-be-worth-nothing/articleshow/116719516.cms https://economictimes.indiatimes.com/news/international/us/e...