Topic: Covid 19 shows how weak People are in the it mind - page 4. (Read 1216 times)

It's easier said than done especially that you have the risk of losing your stable job and you have a family to sustain with the obligations to meet everyday. The Covid19 situation definitely is a double-edged sword depending on the financial status of a person. There are others who cannot invest due to the fact that their source of income has been hampered.

Although some may experience this, there are others who can maximize the situation by taking the opportunities provided by this pandemic. Home/online businesses are thriving and the conventional companies are adapting. Prices in the market are decreasing due to the low demand from the people and I think this is an opportunity to invest for long-term regardless if it is on cryptocurrencies or stocks.

Collateral seems to be more the back up of the banks of their client. And trust me they are monitoring us each by each, they scroll to our life feeds. Banks will care about our background than what we wear when we go to banks, they will smile at you when they see you got a mansion that costs $1 million even if you look like a bum with teared shirt. Loan at your own risk, or don't loan at all.

Loan is granted when the banks sees a potential that you can pay them and it will be defined by your statements, as we all say the collateral. Personally I don't want to get a loan with collateral, like a property, or a car, coz obviously you can't take the half of the car just to pay them, so they will just get it to you as a payment, in short it will be over paid. Don't do collateral!

It seems that you have a positive outlook in life, that is a good thing, but this is not accurate, we do not have more opportunities than ever before instead the opportunities around the world have diminished at an incredible rate and the only thing that people can do is to adapt to these new circumstances, just to give you an example of that let's look at restaurants, before the pandemic they could take a lot of customers and people were happy to go to those places in order to enjoy exotic and delicious food.

After the pandemic restaurants can only accept a portion of the customer that they accepted before and for the most part at least where I live restaurants are empty despite being allowed to be open, and while now they can take their food to the comfort of their customers houses they are still not selling as much as they did before and many restaurants have closed doors already because of the pandemic, so what you are saying is not true at all, there are opportunities that is correct but there are no more opportunities than in the past.

That's supposed to be the spirit for survival!
But, people's thoughts and adoption to sudden changes or strange situation are not the same. You may feel good and think of some good opportunities anywhere, but you never knew how the other individuals are going through - Physically, Emotionally, Financially and Mentally ill right now.
Bills, Mortgage and debts are totally depressing. The interests will continues and it won't expire.
The only opportunities that we have is here. If we work much harder with patience and continues learning, we' ll be able to pay bills and other debts. So, instead of feeling so devastated because of all the losses, why not focus here in blockchain industry? I believe there's more opportunities here.

In many countries the scene is getting from bad to worse as still Covid is spreading at rapid pace and there is no vaccine yet for it. Business are already shutting as they cannot sustain it any further and this means that unemployment rate in coming months will be again record high. Also, for existing loans many are unable to pay and it can turn into default in coming time too. Now, banks will be much stricter in given any loan as chances of defaulting is high.

If you have a decent enough collateral, then the banks will give you a loan. The interest rates may be high (and may go up even higher as inflation is expected to rise in the coming years). On the other hand, if you don't have a good collateral, and in case you are unemployed currently, then there is hardly any chance of getting a loan sanctioned by the bank officials.

What country are you in now for you to talk like that so many people here in our country are losing their job and their business and there's no bank here that will give us loans,, it's actually the opposite on what's happening in many countries.

You must be dreaming no banks will give you a loan and forget it, that bank is not existing, banks are profit driven company the moment they gave you a loan the interest will start to generate you can never default a loan on a bank.

This gives a high energy of false-positivity.

Fiat is on its shaky stage right now because of the economic decline. Therefore, making a great opportunity for gold and bitcoin as a great investment and alternative source of income. BUT this only applies to those who have the capacity of investing and knowledgeable enough about cryptocurrency. Otherwise, you have no choice, but to seek for jobs.

Not to mention, unemployment rate is gradually increasing. More households are in shortage of their necessities. I don’t think there’s much to be rejoiced for while majority are suffering because of lack of opportunity due to pandemic.

Sure, banks are offering loans, but does everyone have the capacity to pay for it before the due date? Their debts won’t just expire and be gone. It’ll just accumulate. The unpaid debts and its interest rate altogether would just make the poor, poorer.

I know it’s a matter of perspective, but please remember that we’re not given equal opportunities and resources to begin with. We have different backgrounds and we belong to different kind of situations. I hope you take these in consideration before stating such claims.

This situation has been grabbed by the banks and offering some appealing promotion regarding down the interest or other things that can think people to loan some amount.

But I have a personal perspective regarding on taking a loan since I always make sure to use that for investment and that's not necessary or mean that I will put it up on crypto investment since its a risky decision to do, better to use the loaned amount on offline venture and use the remaining on risky matters.

Behind the disaster there will always be opportunities for anyone who is able to take advantage of it, I'm sure in every country at least there must be a commodity that is booming during this pandemic. I personally really feel that this is happening, not only about the virtual world, because in real life, certain sales have gotten a very significant increase, for example, ornamental animals have become one of the busy markets and in fact have increased very significantly, and there are many others that I think it would be very good if we could take advantage of every opportunity that is trending in this pandemic era.

Is he aware on how banks do make business or just totally dumb on making or seeing this as an opportunity? We can take loan from time to time neither we are on a pandemic situation or not yet
these banks will surely offer loans because this is one of the main source of income for them on letting people do borrow and giving out those ridiculous interest rates per annum.
This might be a typical thing but this is much way more better rather than borrowing into someone or people who do have much more bigger interest.
Also, dont take loans just for you to make up some investment.

Not all people is privileged like you.
There are lots of people who are unemployed and worrying about bills due to this pandemic.

Not all country are privileged to have a good governance from its government.
You don't know how hard for other to fight this pandemic because of incompetence of their government officials.

Please stop saying to stop complaining, people should demand good action plan to this pandemic from their government officials because they're paying taxes.
Its not their fault to lose a job due to pandemic.
Its not their fault to be born unprivileged like you.

Well, during the pandemic, most people spent more money and it was difficult to generate income, homeless, low-income people were even more miserable. Clearly, during the pandemic, we see the nature of the government we live in. Some governments and citizens have been indifferent to the pandemic and have had serious consequences. Some countries charge too much, while others provide free treatment to their citizens.
The time when we fight a pandemic is when we understand everything, about life, about those around us, and understand ourselves.

This is basically what banks want you to do as well. Think about it, you are a bank and you need income, if a lot of people suddenly starts taking out a loan, you are using the money you have to give out loans to people and they will be paying you money back with interest every month, that is income that everyone would love to have.

I mean let's say you have 10 thousand dollars, you give to 10 people with 4 thousand dollars each (banks are allowed to give more loans than the money they have) which means 40 thousand dollars you loaned to people, they will pay about 60 thousand dollars with interest over course of 5 years, wouldn't you consider that a great business?

I would totally go for something like that, being a bank is awesome for the bank while awful for everyone else. Hence, if you do what OP says, you are only making banks happy.

but I also wonder that there are still so many fairly educated people who still claim that this pandemic is safe and harmless. indeed for those who have good immunity, maybe they can pass the incubation period, but how about those who have weak immunity and already have a history of disease? . there is real experience in my country and I have provided information about it. that there is a young doctor who is a pulmonologist and his wife is also a doctor, devoted himself to a special covid-19 hospital, was hit by this pandemic and was not helped. his wife is still being treated and hopefully he can get well. how it is still said to be harmless, until I don't understand what else to say.

the tourism and trade sector (Mall) which is very impactful because it has been a long time since the closure of many hotels, even so that they can operate, provide free for medical officers to stay overnight so that they can run activities and employees are not left for too long. the government must provide assistance to those who are directly affected if there is no new pandemic that could cause danger to the country, namely: FAMINE.

I hope that drugs and vaccines can be found soon and I appreciate the Russian state for immediately deciding that vaccines can be used immediately without going through complicated procedures through WHO, because a very important need should not be used as a political tool by a handful of people where in fact most humans can be exposed and experienced null and void if not handled immediately. let the procedure be simplified and do not make many countries have to wait.

Yes people show how weak they think any solution how they can earn money.By reason of they afraid to borrow to the bank due to they didn't know how to paid their debt.because they don't have a job so where they gonna get money to pay

While the whole world is in shut down, I do not think that it makes sense for people to actually end up with going even crazier while they are having trouble just staying alive. A suggestion of people actually making leaps further in than they already are would only result with people actually going even further deep in trouble.

I would say save during the good days if you can, if you can't just find more work online or somewhere else, always try to be on the upside at the end of every month if you can do it, obviously not many can, we are talking about a world where Chinese people work for shelter and food at the very best and not even good food, so I understand not everyone can do it. However during bad days, just try to use your saved money and not just go crazy with it.

COVID-19 pandemic is very different, only a few countries can manage and stabilize their economy to not going down. All of us people are affected especially those countries who didn't flatten the curve until now because the possibilities of getting infected are very high due to the massive increase in cases per day. A lot of already lost their job and doesn't know where to get money for survival, there are many additionals on necessities such as masks, alcohol, and medicine for immune system. So people will be afraid and show how weak they are because it is our first time to experience long-term pandemic. The worst-case scenario here if the government is incompetent and can manage the whole country to be a COVID19-free. 

I don't think this pandemic given us good opportunities, it's the other way around wherein our world economies were badly affected, many businesses shutting down and many people losses their respective jobs by it. People forced to stay at home because it's part of the government precautions and with that no income is coming in for each families to bare  on daily expenses with these lockdowns. Our government is working hard to end this pandemic and get back our normal lives so that we can finally have our good opportunities after this pandemic.

Are you serious? Do you really think banks are giving free money? Come on, banks are in business to make profit, they are not a charitable institution, giving and lending are different, they are lending money but with adjusted terms ,maybe lower interest and longer term to be payable, but this is definitely not free.