this post was submitted on 20 Feb 2024
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Ever more wealth must be constantly created in the World purelly to service the interest on all that debt out there otherwise you would get defaults and banks failing.
It's not by chance that everywhere the "solution" for the 2008 Crash (that happenned due to over-indebtness mainly in the mortgage segment) was to lower interest rates to pretty much zero - it weakens the pressure on the entire system to constantly grow merelly to generate the additional wealth needed to pay the interest on the debt.
You'll also notice that as soon as interest rates went up just a bit bank profits mssivelly grew.