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(25-08-2022, 08:47 AM)sgbuffett Wrote: There are companies trying to addict our young to debt by pushing consumerism to the extreme. It is called the "buy now pay later schemes".
We know it has devastating effects in other countries yet the MAS and govt doing nothing.
![[Image: rjRVZKp.jpg]](https://i.imgur.com/rjRVZKp.jpg)
We should not allow something because it is a trend.
Companies will exploit this ability to extend credit and cause harm to our society.
This is hire purchase on steroids as it just need kne click of a button
![[Image: HefSYbK.jpg]](https://i.imgur.com/HefSYbK.jpg)
![[Image: f0IxDtt.jpg]](https://i.imgur.com/f0IxDtt.jpg)
Learn from the mistake of others. We once face the problem of ballonjng credit card debt which led to awkward implementation of debt monitoring like TDSR to bail out credit card industry from the problem they caused. Now we are allowing something that with high certainty to cause a big problem downstream.
It js poor governance if nothing is done.
![[Image: D3soj1M.jpg]](https://i.imgur.com/D3soj1M.jpg)
If someone wants to commit suicide, can you stop them?
How many can you stop?
Let them have a taste to become a bankruptcy then they will learn the lesson.
不进棺材不掉泪。
“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"
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(This post was last modified: 25-08-2022, 11:45 AM by
RiseofAsia.)
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“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"
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Take note of this credit scoring.
“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"
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(25-08-2022, 08:59 AM)sgbuffett Wrote: Regulation can be introduced to stop the companies
If a new poison is invented there is no existing law against it.
Housing, cars, etc also buy now pay later.
Shall we stop that also?
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so housing loan, reno loan, car loan, student loan, ... all are toxic and shd be banned?
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(25-08-2022, 11:41 AM)RiseofAsia Wrote: If someone wants to commit suicide, can you stop them?
How many can you stop?
Let them have a taste to become a bankruptcy then they will learn the lesson.
不进棺材不掉泪。
If someone wants to take drugs or steroids do we allow it to be easily accessible?
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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(This post was last modified: 25-08-2022, 01:22 PM by
sgbuffett.)
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It's a poison and you still want to take it?
You die your business.
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