Comments by "Bobby Loo" (@BobbyLoo-jr8ys) on "China Has 8.6 Million Debt Evaders! Nationwide Debts; Those Owing Millions Prefer Prison" video.

Agreed. I never lend large amount of money to friends or relatives such as cousins, aunts, uncle, etc When they need money, l say why not go to the bank, they have tons. They argue that bank charge them interest rate. I argue, if l lent you money, l lose interest rate. WTF When they say Im cheap or family, I argue: Im protecting my hard earn money! They stfu. No amount of argument can persuade me to lend them money in the 10s of thousands of $.
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Same in the west, housing and car mortgages?
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@acacacacacacaccaca7666 I too have being indebt to someone/bank. That is why I do NOT go in debt. What if you lost job and still have this debt to pay off. It causes one stress and also need to pay interest on it. By not having debt, one actually have MORE money than those that are in debt.
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@proteus404 If you can't the bank loan, the bank will take your property. Best is to NOT have any debt or be slave to the bank + interest. That means, the cost of the product was more than the original price, especially when housing price in China value continues to drop!
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@aaryamanpiplani5672 If you want to lend money to your cousins, aunts, uncles, go for it. I rather put the money into the bank and earn interest rate from the bank. I tell him, if they need thousands of dollars, they can't borrow from the bank.
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