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Compound Interest
Breaking news! The Fed cut interest rates in a bold way yesterday. They also signaled that more are coming too. But don't get too excited. I think the real reason rates are coming down is because the government is spending $1 trillion / year on just interest on the debt! The debt is so high that they can't afford even 5% interest. The government still won't be able to manage with lower rates though. They need to cut spending and raise taxes. That means higher taxes in the future and more of…
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