The problem with the policy of growth through massive debt!
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Pakistan, Feb. 20 -- US President Teddy Roosevelt said, "nothing in the world is worth having or worth doing unless it means effort, pain, difficulty". The resulting attributes mentioned in this quote describe quite closely Prime Minister Imran Khan's big play and ambition about home ownership. The Pakistani Premiere recently launched a housing scheme that espouses to provide a loan for buying or building a house or flat at an interest rate of 5% per year. Imran Khan has spent quite a while in the UK and is acutely impressed by its - and US' - mortgage industry and underlying financial system. Just like leaders in the West including the US, he perhaps also equates the increase in money circulation as a sign of growth. The problem is not g...
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