|| Shri Ganeshaya Namaha ||
Namaskar,
Welcome to the blog on Aarya economics. This is the first blog discussing problems in modern economics & how the Aarya principles apply to cure these problems.
'Loans' is the basic root cause for many of today's problems.
The reasons :
1. Loans are never owned by us . It's not our money. But when we are granted a loan we conveniently forget
this.
2. Loans create an immense mental pressure of repayment. It affects our personal thinking & life.
All the activities we do are unknowingly done with a view to reduce the loan amount. It affects our personal approach to life & snatches us of the enjoyment in life.
3. Secured or unsecured - all loans are bad. They put us in a tendency to have more & more commodities & services which we may not use at all.
4. Loans put us in a " Status War" with our family & friends & we start living just to prove others that we have got more things than them
5. "Loan taking" is bad for the society & the country as a whole.
When a finance institute does not recover a loan it ultimately suffers a loss & processes a law suit against the borrower.
- The borrower goes under mental pressure to save his social status & avoid imprisonment. It affects his personal life & emotional life. He might go under the influence of drugs or may develop very aggresive tendencies.
- The financial institute will suffer loss which eventually will be borne by shareholders . So they also suffer financially.
- If lot many borrowers are bankrupt at the same time then the whole society or the country will lead to a recession. It will cause the social unrest, inflation & currency value of the country.
Solution :
All loans Secured or unsecured ( credit cards) should be banned
( Except Hoam loan for first house, Education loan & Medical loan -
With a ceiling on maximum amount to be borrowed for each of them)
Exceptions :
Education, Medical & Housing loans only should be allowed to continue with a ceiling on maximum amount to be borrowed.
In todays day , In India an individual's Education or Medical or Housing loan should not exceed more than Rs. 1 Crore.
In todays day , In Australia an individual's Education loan or Medical loan or Housing loan should not exceed more than AUD 500 K .
Only first house should be purchased by loan. If anyone wants to purchase a second house it should be purchased on Cash terms.
Regards
Mayur Upadhye
Namaskar,
Welcome to the blog on Aarya economics. This is the first blog discussing problems in modern economics & how the Aarya principles apply to cure these problems.
'Loans' is the basic root cause for many of today's problems.
The reasons :
1. Loans are never owned by us . It's not our money. But when we are granted a loan we conveniently forget
this.
2. Loans create an immense mental pressure of repayment. It affects our personal thinking & life.
All the activities we do are unknowingly done with a view to reduce the loan amount. It affects our personal approach to life & snatches us of the enjoyment in life.
3. Secured or unsecured - all loans are bad. They put us in a tendency to have more & more commodities & services which we may not use at all.
4. Loans put us in a " Status War" with our family & friends & we start living just to prove others that we have got more things than them
5. "Loan taking" is bad for the society & the country as a whole.
When a finance institute does not recover a loan it ultimately suffers a loss & processes a law suit against the borrower.
- The borrower goes under mental pressure to save his social status & avoid imprisonment. It affects his personal life & emotional life. He might go under the influence of drugs or may develop very aggresive tendencies.
- The financial institute will suffer loss which eventually will be borne by shareholders . So they also suffer financially.
- If lot many borrowers are bankrupt at the same time then the whole society or the country will lead to a recession. It will cause the social unrest, inflation & currency value of the country.
Solution :
All loans Secured or unsecured ( credit cards) should be banned
( Except Hoam loan for first house, Education loan & Medical loan -
With a ceiling on maximum amount to be borrowed for each of them)
Exceptions :
Education, Medical & Housing loans only should be allowed to continue with a ceiling on maximum amount to be borrowed.
In todays day , In India an individual's Education or Medical or Housing loan should not exceed more than Rs. 1 Crore.
In todays day , In Australia an individual's Education loan or Medical loan or Housing loan should not exceed more than AUD 500 K .
Only first house should be purchased by loan. If anyone wants to purchase a second house it should be purchased on Cash terms.
Regards
Mayur Upadhye
