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[-] KevonLooney@lemm.ee 0 points 1 year ago

You forget the impact of compound interest. If you invested 1 dollar at 1% interest, you would have a billion dollars in just over 2000 years. So these comparisons based on income are not useful.

[-] dangblingus@lemmy.world 4 points 1 year ago

If you invested money at 1% interest, you would lose money due to inflation.

[-] KevonLooney@lemm.ee 0 points 1 year ago

Real interest, after inflation.

this post was submitted on 26 Sep 2023
553 points (98.4% liked)

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