I am not surprised it wasn't paid long ago, simply by looking at a normal loan. One payment a year, rather than monthly, and at that interest rate, it's not like a lot of interest racks up compared to the actual principal.
In terms of length of time, a 5-year car loan has 60 payments. A payment per year since 1946 is also 60 payments.
Sometimes I wonder how much richer/poorer we'd all be if all nations reviewed their debts to one another and cancelled out as many cross-nation debts as possible or simplify the A owes B owes C to A owes C and be done with it.
Of course, that would be far too simple.
I wonder what change will occur next year when the payments don't come.
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Date: 2006-12-29 03:46 pm (UTC)In terms of length of time, a 5-year car loan has 60 payments. A payment per year since 1946 is also 60 payments.
Sometimes I wonder how much richer/poorer we'd all be if all nations reviewed their debts to one another and cancelled out as many cross-nation debts as possible or simplify the A owes B owes C to A owes C and be done with it.
Of course, that would be far too simple.
I wonder what change will occur next year when the payments don't come.