edthecynic
Censored for Cynicism
- Oct 20, 2008
- 43,044
- 6,883
Except you can't ignore the interest, and you did not specify to ignore the interest. A bank pays barely 1% whereas Amex charges 10 to 25%.Ignoring the interest, you're equally well off.Even though your example is a desperate attempt to distract from the fact that the debt increased by $500 billion in 2007, I'll play along.Nope. Counting the bond, not the spent money.
Let's try again.
You take a $1000 cash advance on your Amex and spend it.
Your brother takes a $2000 cash advance, spends $1000 and puts the other $1000 in the bank.
Who's better off? Why?
I am of course. I'll tell you why after you say who you think is better off.