this post was submitted on 29 Jul 2023
660 points (80.7% liked)
Showerthoughts
29723 readers
1320 users here now
A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. A showerthought should offer a unique perspective on an ordinary part of life.
Rules
- All posts must be showerthoughts
- The entire showerthought must be in the title
- Avoid politics
- NEW RULE as of 5 Nov 2024, trying it out
- Political posts often end up being circle jerks (not offering unique perspective) or enflaming (too much work for mods).
- Try c/politicaldiscussion, volunteer as a mod here, or start your own community.
- Posts must be original/unique
- Adhere to Lemmy's Code of Conduct-----
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
No, fractional reserve banking demands endless growth because debts can't be paid off with interest since the extra money to pay the interest didn't initially exist. Therefore, banks have to lend out more money they don't have so the prior debts can be paid off but in the process they create more debt. But those following loans come with more interest which leads to the insatiable need for more growth in the economy by loaning more money.