Credit bondage brings families to the latest features and deprives children of hope for the future. Should the state develop a program to write off bad debts?
The candidate who will promise to write off debts on consumer loans, will receive unconditional support in the presidential election. Blatant populist measure – but immediately solves a lot of problems. In addition to the turnout in the region of 90% – significantly reduce the degree of public discontent, can clean the banking sector from non-performing debts and to give the explosive growth of consumption.
If we turn to pre-revolutionary history, it is easy to notice the pattern: the first that was burnt in the Jewish pogroms – debt books.
It onerous record pushed the people to revolt, the desire “to tear down the old” and start life with a clean slate, fueled the fighting spirit of the rebels. Because people are not paid not because did not want to return the favor. But because they could not pay. And other way than as finally to be sold into slavery to the creditor, they have no choice.
In the modern world in the place of moneylenders came microfinance firms and banks ready to give “quick loans”. To cite just one figure: in December of 2.1 million people received microloans for 24 billion rubles, which became an absolute record over the last ten years.
That is, more than two million Russians took three to five thousand rubles under the wild interest, to arrange a new year party and to buy gifts for loved ones. And when the holidays are over, food was eaten and gifts were given, it’s time to pay the bills. Someone repaid the debt immediately, some delay, paying draconian fines, and someone will not be able to give up completely and fall into the hands of collectors and bailiffs.
Many people simply have no money. And the current system pushes them either to a life of crime to any cost to close the loan or leads the debtor to think about suicide. When a person sees no way out of the impasse, he makes decisions that cannot always be explained logically.
And do not think that the inability to pay debts – the only trouble is marginalized. People from the middle class to the crisis has lost a high-paying job, which took credit for a new quality of life – that was a mess.
This is a Mature, stable adults, and often even business owners. Just the credit card they opened for ten years or even fifteen ago, during this time, the economic situation in the country has changed, the business turnover fell. Today the money is only enough to make the required monthly payments, but not closing the debt.
There is a problem – and it can be solved in two ways: either write off the bad debts, or increase incomes. How to simultaneously increase the income, personally, I don’t know. Remains the credit Amnesty.
Immediately the question arises: how to write and who are low – income, large families or single mothers? Fully or partially? And is it fair to those who faithfully paid – and, maybe, the last effort? Or continues to pay, denying themselves all over?
Than honest borrowers are worse than those who got loans without thinking about tomorrow?
I have no clear answers to these questions. The solution of such serious problems will require a collegial approach and the brainstorming of experts.
Perhaps the first step towards credit Amnesty would create a precedent for microloans. After all, the very existence of microfinance firms is something on the verge of cheating. If earlier at each corner was a slot machine halls, now offices “Borrow to pay!”. And it is no secret that there spinning the dubious money. The microfinance sector probably requires the most stringent regulation – because it is a socially dangerous credit needle for Stripping to the skin financial illiterate…
Of course, the whole idea of the risks to break on a counter-argument: we have spawned a culture of non-repayment of debts.
Others believe that debt relief will inevitably lead to the unwinding of the flywheel of inflation. I do not agree. Of course, even the most intelligent and the good thing is, if you make it dumb, can lead to catastrophic consequences. But if non-performing loans to be transferred to some intermediate tool, softening the heavy consequences today – will benefit and banks and borrowers. But all this, I repeat, have to do with the mind and with the idea of the ultimate goal.
The essence of all our present economy of consumption is to turn all of us, young and old, slaves of debt. But the meaning and purpose of all the things attach spiritual and cultural values. A kitchen knife is an indispensable tool in the kitchen or the murder weapon? We either bow to the Golden calf or use money as a tool for the calculation of mutual and rewards for effective work…
In society today there is a cult of greed and selfishness, to destroy it for us, as it turned out, not by force – but can it somehow be adjusted. The banking industry has become also a kind of Moloch. And the main interest should not be microcredit loans. It’s all on the line and driven into a corner.
Real, honest banks need to grow their loyal customers, to fight for the income from their future success. No money – get the education that will allow them to build a successful career, buy a house for the family. And pay back when you’re back on your feet. In many European countries this principle is already in force and brings mutual enrichment.
And if our Constitution says that Russia is a social state, the government needs especially to implement the above principle, and to fight against Bank of Kabbalah to the public.
But in the actual absence of wage growth in recent years, we have continued growth of utility tariffs, excise taxes, food prices. And like for each group separately – in the range of inflation, but when all put together, make for a depressing figures. The heat from it growing, but our rulers this issue seriously is not raised, occasionally pulling out only a few aspects: the history of the exchange of food or just too wild cases of arbitrary manifolds.
Poverty is one of the worst vices. It gives rise to people’s anger and envy. If we want children millions of people today hardly reduce the ends meet because of credit bondage, have grown useful to society, you need to give them the opportunity to learn, to improve. Not to be since childhood zatravlenny hostages of the wild banking system.
The state has two obligations – to collect the money and distribute them. Today, in this respect we have a monstrous imbalance: more fleecing the poor – and increasingly distributed to the rich. In the state budget are hundreds of billions of dollars to forgive the debts of obese outrageously bankers and borrowers of microcredit there is no forgiveness!
