> Compare that to the ho-hum attitude many Americans have toward credit responsibility.
So these third world countries are so successful because their businesses don't take any risks?
So these third world countries are so successful because their businesses don't take any risks?
I think most people would... It has nothing to do with being american, it's the conditions these people are living in that make them appreciate the help.
If someone really helps you get ahead then it's likely you will want to repay them and I think that's what you can see happening at kiva. It's not a big home loan or a credit card... it's a chance to really help improve their lives.
You should man up and repost the comment you made and then deleted...
The only ho-hum loans that I've seen people take out is 100k to 150k school loans for useless schools.
All of this anti-credit for Americans stuff makes me laugh. This is because, relative to other countries, I think the high availability of credit and investment capitol is the strongest economic asset the US has.
So, when all of a sudden, out of nowhere, some company comes along and says to all of these people, "Hey everyone, we'll loan you the money you need to start a business so you can live", the people are offered an opportunity to change their lives to such an extreme degree that they're willing to do whatever it takes to get the money and pay it back. Here, in the Western world, if you start a business, fail, and lose half a million dollars, you can brush it off and try again with a different idea and investor. Granted, it might take you a while to find someone else who is willing to put the capital up, but you can. Over there, they can't. They have only one shot, so they take it and do the absolute best they can because it is an opportunity that will only come once.
With that in mind, nearly every loan in the Western world can be taken with a ho-hum attitude becuase the opportunity will present itself again. That just isn't the case for those people.