This is correct. On the internet you really can’t win because it’s not a debate, or even a conversation with another individual. You’re talking to an anonymous mob of unknown size and composition.
I suppose when we say these things we should say, fractional reserve lending creates some money. Otherwise one can get the impression that banks can create as much money as they want, which they can’t.
Interests rates only started rising in 2022. Before then it was possible to get a basically free loan to buy time in hopes of locking in a good long term deal. It’s going to take time to suck all the money out of the system and force hard choices.
This is correct. On the internet you really can’t win because it’s not a debate, or even a conversation with another individual. You’re talking to an anonymous mob of unknown size and composition.