A Boring Dystopia

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Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

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Why aren't we all getting rich from compound interest? (youtu.be)

submitted 16 hours ago by lobut@lemmy.ca to c/aboringdystopia@lemmy.world

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Just let your wealth compound over time and you'll be a millionaire, the advice goes. If this is true why aren't more people rich?UNDERSTAND, SHARE & PUSH BACK

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[–] BilboBargains@lemmy.world 6 points 3 hours ago

I heard Gary Stevenson talk on this subject recently and his argument was that saving money has the opposite effect of borrowing money. If you try to save money you lose money in real terms due to the combined effects of low interest and high inflation. This has been the case since 2008 and became more acute following COVID.