MichaelConlon

2 jaar geledendiscuss

The title doesn't make this clear but this was a decision made by the FTC not by an executive order. There's still an argument that can be made about the extent to which the executive branch vs. legislative branch should be deciding these kind of things which would be fair but it's not Biden personally mandating this change.

MichaelConlon

4 jaar geledendiscuss

While it is not technically "creating" new money it is expanding the supply of money (credit) in the economy. In the above example you still have $1000 owed to you and the company/person receiving that loan now has $900. That's a total of $1900 of "real" money generated from your $1000 deposit. The balance sheets net out to zero but there is in effect an extra $900 now in the economy.

MichaelConlon

4 jaar geledendiscuss

Just throwing another opinion in the mix. I think it's healthy to recognize one's own work in addition to that dumb luck. It's certainly lucky that we liked computers but it's also true that a lot of us worked hard and took advantage of our lucky situations. That's not to say we succeeded on hard work alone, far from it - luck is a crucial part, but it's also unfair to not give yourself a little credit sometimes.

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