Do you miss back old good times? We do miss the easy money easy credit

[savetheFORUM]

Yes it was easy you even go to foreign country and taking credit and new phone or even car no questions asked much.
Was easy times money everywhere and not much skills required to get money just needed to make sure you can go to usa canada or uk specially uk was phaved with gold.

You know the answer, the inflation is killing lenders and the borrowers are also making it hard to lend money because of defaulters. Most countries today even the ones you mentioned were lenient with giving things on credit, you can get it no matter what but today, things have change, the economy is not smiling, the way inflations kills loans is hard, you may receive 5% interest and loss everything to inflation, so it's like you were never into the business.

The real effect and problem is the borrowers, the way they ask for information when you want to take loan looks like you are about to steal money from them but it's not there fault actually, it's the past experience they have that has make them to be over protective. If they don't adjust to the way people play with their loan business, there will not be available lenders that are going to give loan to people.

That was one of the biggest reasons why 2008 happened, for example. The banks realised that they could give mortgages to basically everyone, and if they default, then they would just put it up with other thousands of mortgages and sell that instead, and keep on doing this. In fact, they would put very secure mortgages with hundreds of bad ones, and then when it defaults, the house would be seized, and if that doesn't work, then we would end up with people who would be buying thousands of them, under the disguise called a CDO.

This was the reason: giving loans to everyone without checking anything further. There were multiple movies about that 2008 crisis but there is nothing further you need to know, the entire system crashed, because they gave mortgage loans to EVERYONE, and multiple as well, there were people with 5-6 houses, all because they were allowed to take out credit, and when they did, the market was so free to sell, because at the end, if you got that mortgage, and could buy, then someone else could too, and you bought it, revamped it, like painted and cleaned and made it better, and sold to another person who could easily get a mortgage, and this went on in cycles.

Some people did get rich if they were smart, but most lost their homes. On the day when banks finally crashed, they weren't capable of giving people loans, and they were not lenient on it anymore, so if you failed to pay, you got it seized. The only downside is that banks made a mistake and couldn't pay up, but the government bailed them out, so the government literally paid for those companies' mistakes, and yet the people? Regular citizens like you and me? We got our homes seized, and nobody helped us.

[Emitdama]

Inflation will keep getting worse as well, because printing money has been their usual response during economic downturn, and there has been no fix to this, it just getting worst instead.
Money will become less and less of worth, so yeah, people should start putting their money somewhere that could preserve its value. Bitcoin is one of the top choices without a doubt.

People should move on from the past and start learning how to avoid getting affected by the rising inflation. Because those days/opportunities aren't coming back. A hundred dollar won't be able to fill a cart ever again.

This is why low-rate loans are the best thing you could ever hope for, not right now anymore, but it could have been great. Imagine you could get a loan at the rates of pre-covid, it was so little and so easy. In that case, just collect every single debt you have, everything, from your loan to credit card, to mortgage to anything, your business even.

And make one bigger loan instead of a bunch of smaller ones. And the rate is very low, so you are not paying hefty interest. In exchange, you get a small payment to the bank every month, and use the rest to grow, and because of inflation, you are not going to have a big debt in the future. This year it may look big, but in year 2 it will be less, and by year 4, it would be peanuts, all because of inflation.

[abhiseshakana]

As for the credit stuffs, it just doesn't sound nice to me and I don't think humans are gullible and stupid enough not to check before giving you credits but still I feel small scale loans are more accessible now.

I agree, small loans are accessible these days because there are more loan providers but, they're the modern loan sharks. And this is taken advantaged of by those who think won't pass in the qualification and requirements of the banks, so they go to the loan providers but with a quite high interest that they are accepting. Well, old good times, I remember when my couple of bucks can buy a lot. But these days, if you come out with a $20 in my country, that won't even enough to buy enough things to survive.

I used to hear about credit cards when I was very young how in Europe and America, issuing companies would be competing against themselves to issue them to eligible members of the public, I heard that somebody can exhaust one credit card and move to another one without paying back the  first one. Now we're having an infestation of loan sharks, they are everywhere online advertising how you can access fast loans through their apps and putting a lot of people into dept by taking quick loans for unnecessary expenses. I think that people should be more prudent about their finances and only apply for a loan when it is absolutely necessary.

In my country credit card usage scheme still rampant, there are even many people organizing short courses on credit card usage management. Beside for consumption, they use credit card for investment and use difference between interest and profit which  think too risky using debt for investment. Usually a person applying many credit card and every three month they requesting loan limit increase, after that they cash in advance all credit card balance on specific merchant with service fee 3-5% from the withdrawal amount. and ecery month they will go to merchant to pay the interest only to the service provider.

[Conqueror777]

Yes it was easy you even go to foreign country and taking credit and new phone or even car no questions asked much.
Was easy times money everywhere and not much skills required to get money just needed to make sure you can go to usa canada or uk specially uk was phaved with gold.

Taking credit on things can enslave you to dept. As stated in the Bible "the borrower is a slave to the lender". So I'd advise against taking credit on anything, maybe only on real estate and if it's cashflow covers up the loan payments.

[r_victory]

Yes it was easy you even go to foreign country and taking credit and new phone or even car no questions asked much.
Was easy times money everywhere and not much skills required to get money just needed to make sure you can go to usa canada or uk specially uk was phaved with gold.

I don't think it was the wonderful thing you're saying. Leaving your country and seeking opportunities elsewhere required, and still requires, skills and knowledge. Unless you're looking for a low-paying job that doesn't demand much, and honestly, being content with that and thinking it was the best thing in the world is thinking too small. Nowadays, we have more opportunities to get rich, and I'm not saying it's become easy, but more doors have opened.

[Silverstonez]

In all honesty,  I really miss the good old days,  you know back then things were very easy to get,  you can even travel to another country without going through so much stress.  But as it stands now, before you can travel to any country of your choice you have to go through hell first.  Also,  back then someone can get employed into a high position,  even without having the qualifications to occupy the position,  provided they had the skills and experience to handle it.

[Miles2006]

Yes it was easy you even go to foreign country and taking credit and new phone or even car no questions asked much.
Was easy times money everywhere and not much skills required to get money just needed to make sure you can go to usa canada or uk specially uk was phaved with gold.

Old good times truly impacted different kinds of mentality, you might think such times should never pass and yet we keep moving and as time goes things change. The argument of old times and a new era  is common in terms of change, if things had change for better I believe no one would miss the old times, this tells a lot about the modern world as time goes everything seems more modernize and difficult to access presently you can’t go to countries freely and start doing stuffs, countries now have boundaries which is understandable making it difficult to carry out free activities obviously we never thought those tradition will last forever as time goes same will be said after this era.

[RGBTC]

I believe this is the cumulative result of years of inflationary pressure. Credit liquidity has become constrained, with funds strictly allocated to borrowers who pose no risk of default. Inflation has contributed to various economic setbacks, including the inability of many people to meet their daily needs; this signals that access to credit is becoming increasingly limited for the lower economic class.

[dansus021]

Waitttt, Today is easy to get credit too right. I mean like loan right. I mean here in Indonesia there a thousand legal and illegal loan app that only need Identity Card fill some data and boom you got hard cash but all those easy credit got ton of interest rate at the end.

Or if you mean 0% interest rate hmm I think with the high inflation era like this forget about it. Central bank keep hold or raising their interest rate just to control their money supply and money power. When governments can inflate credit at will, it creates massive boom-and-bust cycles that ultimately leave wage earners behind.

[Mayor of ogba]

I haven't been to Canada, USA, or U.K but I know that it's not easy for someone who just arrived at Canada, USA or U.K to have access to loan because the person needs to settle down in the country first, get a job and start earning money for the lender to know that the person has a source of income that he or she will depend on to repay his or her loan. I think what you are trying to explain best correlate with, "do you miss back old good times when money has value? And you can purchase a lot of things with little amount of money."

[Marvelockg]

back then someone can get employed into a high position,  even without having the qualifications to occupy the position,  provided they had the skills and experience to handle it.

The reality is that those times have long gone and gone for good. There's nothing easy about getting a job, starting a business, traveling out or getting anything meaningful. Our population has greatly increased at an alarming rate and with that increase comes the demand to brace up for the current reality and face life just the way it is at the moment.

With difference existing between countries and international tension getting on the increase, case of visa denial is going to get more extreme. We've seen how official referee of the FIFA world cup was denied entry into the united states. That incident will eventually lead to gutter denial by other countries in the coming years. In it all, it stopped gives a pointer to the fact that things will likely not get easier ever again.

[Webutxo]

I don't think it was the wonderful thing you're saying. Leaving your country and seeking opportunities elsewhere required, and still requires, skills and knowledge. Unless you're looking for a low-paying job that doesn't demand much, and honestly, being content with that and thinking it was the best thing in the world is thinking too small. Nowadays, we have more opportunities to get rich, and I'm not saying it's become easy, but more doors have opened.

There is nothing that beat skills, you need it before you travel to anywhere to get a job. Even if you leave your country in search of low paying job and no skill, you will have to look for recommendations from other people and it's the same skill that is going to give you recommendations, without skills you are not going to have any job from people, you need skills to survive except if you are going there to studies as a student and then do some menial job to survive.

It's easy these days to learn skills, there are plenty of YouTube videos that you can learn skills and get job. One advantage of staying in developed countries is that you are going to get job physically before people that are doing gigs from other part of the world get the job before you because they like physical examination of who they can give their job too and also see your previous work than looking for one person on the internet to trust.

[leonair]

Yes it was easy you even go to foreign country and taking credit and new phone or even car no questions asked much.
Was easy times money everywhere and not much skills required to get money just needed to make sure you can go to usa canada or uk specially uk was phaved with gold.

Yes, it is true that earning money was much easier before. There was less competition in the job sector. Even with little education, you could get a good quality job. But now, whether it is a job, business or any sector, you need very good skills. Now, AI has made many things easier, due to which many people are losing their jobs, while there are many who were able to generate a good amount of profit by setting up a big business without much competition. AI has also become a problem for them because many small businesses are able to take them to a good position very quickly with the help of AI and are becoming competitors of another big business. Technology is improving, some people are taking advantage of it and doing great things, while others are falling out of their good positions, and it will only get harder as time goes on.

[Synchronice]

The thing is, if you are rich, life is getting better and better every day but if you are poor, then life is getting worse and worse. We live in a capitalism and today it's at its peak. When you have the capital and salaries are globally low, there are lots of unemployed people and the majority of population lives from paycheck to paycheck, then it becomes very easy to start a business, save money on salaries and exploit employees. If you live in a rich country, you have unlimited resources of exploitable migrants, especially illegal migrants who work 24/7 to send some money back.

[SirLancelot]

The thing is, if you are rich, life is getting better and better every day but if you are poor, then life is getting worse and worse. We live in a capitalism and today it's at its peak. When you have the capital and salaries are globally low, there are lots of unemployed people and the majority of population lives from paycheck to paycheck, then it becomes very easy to start a business, save money on salaries and exploit employees. If you live in a rich country, you have unlimited resources of exploitable migrants, especially illegal migrants who work 24/7 to send some money back.

This can't survive forever; that means it is going to change eventually. We can't have just super rich billionaires and homeless people left in the world, but right now the direction is that way. We have less and less middle class, and we have more and more rich/poor gap. It is growing every single year, and there is nothing that we can do about that.

We shouldn't really be looking into this as something that would be all that easy to handle, and we need to realise that things aren't going to end well if we keep doing this. I understand we may not want socialism or communism; that makes sense, it is logical. But that also doesn't change the fact that we should not want capitalism at this peak level either. We should have a small amount of capitalism, a regulated one.

[Synchronice]

This can't survive forever; that means it is going to change eventually. We can't have just super rich billionaires and homeless people left in the world, but right now the direction is that way. We have less and less middle class, and we have more and more rich/poor gap. It is growing every single year, and there is nothing that we can do about that.

We shouldn't really be looking into this as something that would be all that easy to handle, and we need to realise that things aren't going to end well if we keep doing this. I understand we may not want socialism or communism; that makes sense, it is logical. But that also doesn't change the fact that we should not want capitalism at this peak level either. We should have a small amount of capitalism, a regulated one.

The thing is, we live under capitalism and even though it looks like regulated, those regulations can be weakened by corruption and political influence of wealthy individuals and corporations (rich can always buy poorer). In capitalism, the rich own and poor work but it's not that simple. There is always a need of talented worker and business owners compete for workers. Highly skilled individuals are always guaranteed to be middle class because corporations fight for them but it doesn't mean corporations are gonna make them millionaires (unless they are extremely talented, one in a million).
It's worth to be mentioned that unskilled workers are treated like slaves because everyone can do unskilled job and businesses abuse them the way they want. The reason why Nordic and some European countries have strong middle class is that the government interferes into it and sets normal minimum salary per hour, gives people good insurance and so on.

[batang_bitcoin]

The thing is, if you are rich, life is getting better and better every day but if you are poor, then life is getting worse and worse. We live in a capitalism and today it's at its peak. When you have the capital and salaries are globally low, there are lots of unemployed people and the majority of population lives from paycheck to paycheck, then it becomes very easy to start a business, save money on salaries and exploit employees. If you live in a rich country, you have unlimited resources of exploitable migrants, especially illegal migrants who work 24/7 to send some money back.

The rich always gets richer because they know the game. And even in the old times, there were already those who have hustled hard and understood the era that they were in. There's the gold rush, there's the other era where people hurried to get into something. The same as we are, this is making it for everybody that we're also facing the same problem but the difficulty is just so different today, it's much harder IMO today than back then.

[Ever-young]

I don't think it was the wonderful thing you're saying. Leaving your country and seeking opportunities elsewhere required, and still requires, skills and knowledge. Unless you're looking for a low-paying job that doesn't demand much, and honestly, being content with that and thinking it was the best thing in the world is thinking too small. Nowadays, we have more opportunities to get rich, and I'm not saying it's become easy, but more doors have opened.

More opportunities now than in the old days, no doubt but still requires skills and knowledge for people to be able to unlock those opportunities to become rich or wealth. Determination is also part of the journey because of the unforeseen circumstances along the way, and if people are not really prepared, they can't improve themselves. So whether they leave their country or not, it won't necessarily make a difference if they don't have the right skills and knowledge to help them succeed. Although it is a difficult process, that's just the truth.