2007-05-01 23:52:19 · 3 answers · asked by SAjjad Baloch 1 in Social Science ➔ Psychology
In the Western World, we don't know what poverty is. Third world countries know all too well. It is happening in third world countries as a result of lack of resources, war, and dictators.
2007-05-02 00:12:10 · answer #1 · answered by starflower 5 · 0⤊ 0⤋
Most people buy what they want, not what they need and, they go beyond their means, creating a monster they cannot control. After awhile they see there's no hope and just let go and let it "all hang out" and go crazy with credit, spending far beyon their capacity until they go bankrupt.
The lending institutions help with this anomaly by letting these people get credit again.
I know of one family that has filed bankruptcy five times in three States, maxing the limits of their credit, asking us if we needed anything before they file because they had what they wanted. Today they just bought a new Ford Expedition and are looking at another home in Colorado, go figure.
I have very little, watch my credit, my money and spend only what I need, have a small bank account but still have my dignity.
2007-05-02 00:04:05 · answer #2 · answered by cowboydoc 7 · 0⤊ 0⤋
What's interesting is not that poverty exists, but that wealth does.
Poverty is the "default setting" of mankind. We are born naked, and after that, if we don't make it or get given it, we'll stay that way. Certain cultures have been rather successful at "making it", and certain cultures definitely haven't.
2007-05-02 00:06:49 · answer #3 · answered by Trevor E 3 · 0⤊ 0⤋