It’s The Season for Giving And Receiving
So, Christmas is nearly upon us and from what we hear through the press, cash tills have not been pressed into doing any over-time, which is not surprising as those in the low to middle-income brackets are tightening their belts more than ever.
It’s little wonder families are being extra cautious this year, with attempts to re-establish their links with ‘savers’ and disassociate themselves with ‘borrowers’ and perpetual indebtedness.
The nation has become complacent about debt and as a result of many years of sustained growth, many see debt and borrowing as being completely acceptable. Over the years this culture has been nurtured by the banks and leading institutes which have flagrantly provided massive lending to all.
Hopefully, at some point in the future when the markets are stable and the Euro crisis has been entered into the history books, individuals and banks will have learnt a valuable lesson, with a global change in the way lending and borrowing is perceived.
In other words, a fundamental change in the culture and ethics of lending and borrowing needs to happen on a global scale.
DeJoria is wishing for a change of fortunes for all those affected by the financial turmoil and is very much looking forward to a highly prosperous 2012.
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