‘No Debt No Credit’ – the phrase may sound very weird but is nevertheless true.
Works and Days
August 1 — December 1
Theatre of Operations
October 1 — December 1
Coronavirus (Covid-19) 2020 – is there an opportunity for ‘Better Me’ ?
October 1 — December 1
‘No Debt No Credit’ – the phrase may sound very weird but is nevertheless true.
Conventional wisdom teaches us that people who live debt free are wise. It is better to drive an old car that doesn’t incur a monthly loan payment than a new car creating a regular cash outflow a.k.a EMI. We were always told that we’d be better off with old phone than use the credit card to buy a new smart phone. Then there are few who find borrowing derogatory. “Borrowing” may appear to tarnish their “snob” appeal. They possess large disposable funds invested in stocks, gold or often times simply hoarded in cash, more likely when it may be tax-evaded. Such people would never have a remote thought of borrowing from a Bank. Infact, such individuals/groups run a parallel economy by lending to others on high interest rates.
Some are patient enough to wait for the savings to accumulate to the extent they can buy the desired product or asset. These individuals are innocent enough to not understand the Keynes Liquidity Preference theory.
Whether the borrowing is from a Bank or any other financial institution, borrowing often involves some kind of cost e.g. interest on the loan borrowed. Some simply cannot afford these costs while others may have dispensable funds to substitute the borrowings thereby saving the interest costs.What may be often missed is that such savings may have a long term impact in an event that requires huge sums of money that can neither be fulfilled by any of the savings made till date nor can be delayed to get it with additional savings.
Lets consider that you need to buy a house that generally warrants significant investment. This will require borrowing from a Bank or any other financial institution. A key factor that directly influences how much loan you may be able to get is your credit history or your credit score. What if you don’t have any credit history? Obviously the credit score is zero. This will directly impact your borrowing amount which you are in dire need at such a time.
“Cyborgs, as the philosopher Donna Haraway established, are not reverent. They do not remember the cosmos.”
With seven floors of striking architecture, UMoMA shows exhibitions of international contemporary art, sometimes along with art historical retrospectives. Existential, political and philosophical issues are intrinsic to our programme. As visitor you are invited to guided tours artist talks, lectures, film screenings and other events with free admission
The exhibitions are produced by UMoMA in collaboration with artists and museums around the world and they often attract international attention. UMoMA has received a Special Commendation from the European Museum of the Year, and was among the top candidates for the Swedish Museum of the Year Award as well as for the Council of Europe Museum Prize.