Utter Stupidity | ** An Anonymous Journal **

Friday, January 08, 2010

Utter Stupidity

I am extremely angry today. My cousin brother told us that he is in debt to the tune of $500,000! And he doesn't have any more money to meet the interests of loan sharks. Interest is really high at 8% PER MONTH! Can you imagine that?

Now, my cousin brother is on the run and my family wants to help him and forking out his expenses and giving him pocket money and guess what. THEY DO NOT HAVE THE MONEY!!! So who is going to come up with the money in the end? You are right, it's yours truly!

Ironically, I came across this article called Steps To Stop Stupidity and it made me laugh for a minute. Can stupidity really be stopped? Is it something that's born in us? Like my cousin, I believe he has read too many similar cases in the newspapers where people even kill themselves because they were unable to pay off loan sharks. Why then borrow from loan sharks? His income is only slightly more than $2,000 per month but interest alone is $6,000 a month! How could he manage it?

While there are people whom I help unconditionally, there are also situations where I think unworthy of my help. But in this case, my family has cornered me and I have no choice but to help. And I hate it.

If you have been reading my blog, you would know that I have been saving to buy property. I have been thinking, “Anyone can invest in real estate but how does one make money from it?” I guess I don’t have to let this question bother me yet since my plan to buy property has to be delayed no thanks to my cousin’s stupidity!

2 comments:

Anonymous said...

You can't afford a holiday for your whole family but you have 500k?

Anonymous said...

Nope, I don't have $500K and even if I have, I wouldn't spend it by repaying other people's debts! It's expenses to run away that I'm forking out.

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