tricks of the trade & debt

The day when i went to Bhuleshwar, i met twi guys in between and as I had nothing to do, I decided to continuw with them for Sopandev maharaaj’s visit.

While returning, they were discussing on the lives of people, in Saswad & in Pune. They way these guys live in Saswad, was so cool. They had ample natural resources, good waulity of living, and more over all – time! They didn’t require to follow a 7-7 schedule with the wristwatch/ clock scaring you all the time. One of the basic theme was….. education.

The child of one of the guys was to be admitted to a school in the city. Here the parents needed to give an interview & then the child will be selected on that criteria.

Whereas in the rural area, the schools, may be the numbers are a few, but the parents didn’t need to bother about the kid’s education so much for the first 10-12 years, but save and get enough money for a good degree.

Other issue was : Obama and the credit policy ..

we have a habit of saving too much. the credit money enjoyed by people in US is never possible here as people tend to enjoy with their savings and do not like to take credit. The previous money lenders used to torture people, or atleast grab any of their possessions ( land, house) which would have been kept as a mortgage.

In US, the liberal credit policy drived people to take loans beyond their limit of repaying and greed increased.

So this recession or so called Depression has arrived due to the policy of lending money to the people to buy things they would just have dreamt of… now they are putting Billions to Trillions of dollars into the economy again for the poeple to lend and enjoy… its like having a salary of 100 $ and asking them to spend 500$ to save the economy.. how can that be possible.

Eventually, poeple have been on the defensive for spending now, here, there & everywhere, as the situation has become much tense doe to job losses and the share market crashes. Stock prices keep on falling week by week and many IT firms are on their toes, for giving lay off’s.

This might also prove difficult for new Grads, the ones who have lost their jobs after just joining recently and the ones who are still freshers.

The home loans offered here are about a duration fo 20-25 years, which vary according to the increase & decrease in the bank rates as per the market scenario. So, the home purchsed by say, ABC is the bank’s home for 25 years, he just stays in it for 25 years. they can at anytime kick u out, as once u have defaulted their loans EMI.

The discussion ended with both deciding to save money and take loans less.

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