Saturday, November 8, 2008

Some people just do not learn

Recently, the topic of deferred payment has come up again in the newspapers. They were advocating that the deferred payment should be reinstated due to the current crisis.

I was thinking... These people who are advocating this reinstatement are crazy!

Where did this economic crisis come about?
It's due to loose credit.

Where did this crisis originated from?
It originated from the US Housing crisis.

What caused the US Housing crisis?
Low or Zero interest rates loans for the first few years that was given out to people who cannot afford it.

In another words, the current crisis originated from deferred payment!! Now some people are asking for the crisis to come to Singapore?? If you can afford the house, you have no need for deferred payment.

Do Singaporeans really look so short-term??

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