Critical Thoughts
May 25, 2010
If we take a look what happened in the past few years, we realize that many people can’t handle debt. In the US many people bought houses on credit and while the real estate gained overwhelmingly in worth, nobody thought about repaying or what would happen to the growing amount of debt. Right… a crisis in the housing market was inevitable which partially led to the financial crisis of 2008.
Now, how can we expect people from Low-Income-Countries without much educational background and knowledge about banking to use their debt efficiently if we are not able to do so ourselves?
