Comments by "Bobby Loo" (@BobbyLoo-jr8ys) on "Homeless Youth, Indebted Adults, Abandoned Elders: China’s Anti-poverty Facade Hides Rising Poverty" video.

  1. Those who took mortgage to buy a house. They cry because they became sore losers. Why take so much loan. These avg Chinese local, just wants to keep with their neigbours. I don't feel sorry for them. As banks lend out more money, it only inflates the housing price. Imagine, if people do not take loans, housing price wouldn't sky rocket. So, these local Chinese, shot themselves in the foot. Always buy within one's mean. If you don't have money, rent, don't buy.
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  2.  @BigBlueLobster65  took out huge loans and can't pay back. Just like student loans. Too many people are trying to keep up with the jones. Nowadays, no job is stable. Only govt job are life long jobs. Those ppl can afford to take massive loans. But for those in the private sector or jobs that are not stable, taking huge loans is a huge risk. Many couples lost both jobs and housing price decreased. Isn't that a loser. Because they were too over confident, betting on the future. ANd they lost. Isnt that a loser. The bought houses or two, because they believe it can only rise. Have they never heard of the bursting bubble. It is simple economics. Why take our million of RMB in loans from bank and from relative. Only buy, when they have millions in the bank. But if they only have 1 M and the house cost 3 M, 2 M loan + interest. THe winners are the banks. They will always get the some of the money back. They are loser, because they are playing the game of the society, falling into society's trap. Mortgage is a trap. It can ruin your finances, ruin your family/marriages, when they can't afford it. And when they default, their life is screwed. Their accounts are frozen. Their Chinese ID cards are useless (can't buy ticket of bullet trains/airfare). Isn't that a loser in society. Again, they fell int the trap, thinking it was a good investment, via impulse buying because others are buying. They are followers. Monkey see, monkey do.
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  3. The Bigs are the biggest robbers. They rob from the poor, so those Bigs can continue to live their luxury lifestyle.
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  4. Bigs are professionals and making up fake news. They want face, they want to show America that China Bigs takes good care of its citizen. They are so good at lying, they start to believe it. But many Chinese no longer trust or believe what the Bigs say. It is all nonsense information.
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