A Test of Financial Literacy

@whowasthatmaskedman It's not just you mate. If I have to kick someone to win, I would consider myself a loser, a lesser person for it. If people don't have the skills and abilities to make it - particularly when for our lifetime unemployment in Australia has been a deliberate economic policy to help the wealthy end of town - a decent society creates safety nets.

@Abstraction Absolutely!! And not just because its the right thing to do.. It is simply less costly to support a person who it barely getting by than it is to recover them when they hit rock bottom. Just as it is less costly to treat someone with a health issue before it becomes chronic and requires more intensive treatment for longer. The numbers back me up.. Selfish people are costing themselves in the long run.😷

@hartfire thing about energy is there is never enough.

It's not about the sources it's about how energy can be made to be useful.

If you really think about it everything is made up of energy.... E=mc². Yet what is anything but a mass with all kinds of energy as it's components.

Yet how do you utilize that energy and make it useful. The ways to do so are limited. Especially if you want to do so in a ecological way.

Solar panels actually are inefficient compared to say fusion power which is truly on it way soon. Even that won't be enough.

We must look to far more than just energy for personal needs, which we are barely touching the surface.

We must look to energy for industry which requires ten times more than us.

We must look to energy for shipment of goods, not just locally yet all across the world and into space.

The needs for energy (demand) far far out out weights the supply.

@ElwoodBlues being even less tangible than even the current system is in no way tangible in any way!

This whole idea that money should be based on certain ideas is valueless!

It's not based on reality! Only an idea, which can be anything.

BTW it doesn't have to be based on gold or silver. Yet they are at least real! Not an idea!

@whowasthatmaskedman And here is a different "expert" (and I fully admit this guy has an agenda and something to sell...But that doesnt make his story incorrect) with a fairly lucid explanation of the how and why. The whole currency has been set to benefit the rich. And thats a bubble, pure and simple.. And you know what happens to bubbles,
[media=https://youtu.be/8-lBW-dHvic]

@ElwoodBlues Yes. I misquoted you.. My mistake.. But it isnt an ad at all. I have included anothe "infomercial" which is an ad. But informative nonetheless.😷

@DeWayfarer I agree. Adding that the corporate greed has been enabled by the lack of political will to keep business honest, both in removing protective legislation and failing to enforce the laws in place.. 😷

@Unlearn Obviously that situation depends on where you are. Interst rates for borrowing and lending are different in different Countries. The broad message is that "Money" has become disconnected from "value" which it is supposed to represent. Some Wall street idiot came up with the idea that money was real and not just a way of allowing you to exchnage value. And it was a short step from there to "Print more and get rich.."😷

@Unlearn For decades now, interest on savings in a bank has been consistently less than the rate of inflation.
That means leaving one's money in a savings account means it loses value over time.
Even compound interest doesn't keep pace because governments tax interest rates (without regard to inflation) as part of one's income.
Thus, anyone who has any spare cash after paying for their cost of living will tend to invest it in things that hold or increase in real value above the rate of inflation.