Debt Trap for today’s youth
Today’s Times of India has reported that the youth in modern India are falling into a debt trap. There are examples of youngsters who have borrowed heavily to invest / trade in the stock market. Some people would have borrowed using their credit card, some would have borrowed based on their salary and some against existing securities. But the end object of most of these guys seems to be to trade in the stock markets or commodities markets and make some money. There is no harm in trading in the stock markets – but the whole ball game changes when the “GREED” factor comes into the human psyche – that is when people start over-extending themselves to try and beat the stock markets. This is encouraged in all probability by one or two instances of making some good amount in the initial trades on the stock exchange. I have seen a lot of people being sucked into the market like this – making some money initially and then getting burnt to exit the markets with only debts left to pay off! There...