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Breaking the cycle of poverty through microcredit

by Dave Konkel [Moderator] / February 8, 2005 10:38 PM PST
The Grameen Bank of Bangladesh.

This approach should be tried in the inner cities here... Of course, conservatives despise the approach, because it violates all the principles that help the rich get richer.

-- Dave K, Speakeasy Moderator
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Sort of deflates your concerns
by Cindi Haynes / February 9, 2005 12:23 AM PST

About people getting eaten alive by SS privatizations, too. See, poor people CAN manage, save, and make money work for them.

A bit of education, a bit of incentive, and looky there!

Speakeasy Moderator
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Not so, Cindi.
by Dave Konkel [Moderator] / February 9, 2005 2:46 AM PST

These folks are loaned money to make a better life based on what they already know how to do, or in some cases with a bit more education. That's quite different than throwing them unprepared into the shark-infested waters of Wall Street! (I think that may be a badly mixed metaphor, but I like it nonetheless! Wink )

-- Dave K, Speakeasy Moderator
click here to email semods4@yahoo.com

The opinions expressed above are my own,
and do not necessarily reflect those of CNET!

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I remember some years ago, reading about Soros
by Dragon / February 9, 2005 3:27 AM PST
In reply to: Not so, Cindi.

---back then I didnt know much about him--- But I had read how he had been making micro loans to people in some African country. An example was one lady who wanted a loom for making cloth and clothes. She paid that one off, and next thing you know, she has several looms and people working for her.

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and, if they are really successful, Dave will despise them
by Kiddpeat / February 9, 2005 10:16 AM PST

for not wanting to put all their money into taxes.

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Not really...
by dirtyrich / February 9, 2005 7:34 AM PST

The situation in India does not translate to US inner cities...
The poor in India and other under-developed nations are often held back by a lack of development and infrastructure leading to employment opportunities, but the individuals are willing to do just about anything to get ahead, even build their own businesses. The loans provide them with the finances to jump that hurdle.
That infrastructure is already in place in most of the US, definitely in the inner cities. A large poportion of the poverty in inner cities, I believe, has to do with poor education, crime, drug abuse, and weakened family/support strutures. There are probably some cases where someone simply needs a small loan, but microcredit would probably have little to no effect on overall poverty rates.

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In spite of your comment
by EdH / February 9, 2005 7:49 AM PST

it's likely that Conservatives would embrace this idea if applied properly.

Why alienate people with hateful nonsense like that?

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I'm sure most conservatives would encourage this. Why
by Kiddpeat / February 9, 2005 10:14 AM PST

don't you start such a bank? I also know of several conservative Christians who are doing this in middle eastern and african countries.

You weren't by any chance volunteering someone else's money for this project were you? I'm sure that you can find lots of people to go in on this with you.

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Mico loans in the US
by Dragon / February 9, 2005 10:58 AM PST

just a few quick googles for micro loans

A version has even reached 150,000 Americans in inner-cities like Chicago and Washington. Borrowers here can begin with a $500 or$1,000 loan, enough for gardening or hair styling tools.


The Micro Loan Training Program

U.S. microenterprise programs originated in the mid 1980?s. As the field grew, practitioners created a national membership organization to support their work, the Association for Enterprise Opportunity (AEO).


Buenas noches

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