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Moneylife » Personal Finance » Loans » Wrong Time for Debt

Wrong Time for Debt

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19/07/2007 12:00 AM | 

“Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry”

Shakespeare wrote this in Hamlet. Luckily for the world, nobody listened; otherwise there would have been no banking services. Globally, the debt market is estimated at around $50 trillion! Surely, a lot of money is being borrowed and lent. In my lifetime, I have seen Indians turning from savers and investors to borrowers and investors. Today, only the poor borrow to meet their needs, while the rich borrow to get richer. Banks and finance companies are eager to give you...


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