Common Core Math
Someone needs to do a RE-Calc ... or maybe this is how Politicians 'balance the budget' ... shm
I don't think I am going to retire on my $4.33
Pink Floyd was wrong, someone DOES need an Education.
Someone needs to do a RE-Calc ... or maybe this is how Politicians 'balance the budget' ... shm
I don't think I am going to retire on my $4.33
Pink Floyd was wrong, someone DOES need an Education.
Prof. Franz Hörmann from Wien explains how money, debt, interest are connected. If there were no debts, there were no money (in todays economy).Money is the debt of a bank to a (human, company, city,...)(i.e. to a non-bank). If a loan cannot be paid back , the bank does not erase both statements in the ledger(active and passive), only one of them and thereby increases the debt of the bank.
And then the state, which has only debts (as shown on your blackboard) saves the bank, borrows some millions or more from the bank, then gives this to the bank, to save the bank.
Prof. Franz Hörmann from Wien explains this in all detail.
Keeping the books is a great art, he explains.
No pudding for you. I like this song. Thanks for post.