Many people are using credit cards or loans to run up huge personal debts that they may be unable to repay. It should therefore be made more difficult for individuals to borrow large amounts of money.
What are your opinions on this?
Give reasons for your answer and include any relevant examples from your own knowledge and experience.
You should write at least 250 words.
Many people are using credit cards or loans to run up huge personal debts that they may have no ability to repurchase. But should it be made more difficult for individuals to borrow large amounts of money?
I think that everything has its good and dark sides. On the one hand, if it is difficult to borrow money, people will spend their penny more carefully, reducing the amounts of huge personal debts. And it makes the economy safer, there will be no economic crisis. For example, in 1997, there was an Asian crisis due to huge personal debts that the owner of the debt couldn't repay, that devastating crisis soon spread to the whole Asia continent. That great crisis wiped out millions of dollars and made thousands of people lose their jobs and everything just remained normal after lots of bailouts were given out by economic organizations. If the financial institutions have fewer risks, the interest rate may be will decrease.
On the other hand, If it's hard for humans to borrow cash, they will find other ways to borrow money. For instance, they will think of borrowing from mafias, illegal sources, or even earning them illegally. That will not only support the country's economy but also bring dangers to their life. Moreover, banks will lose opportunities to making more money and increase monitoring costs.
In conclusion, I believe that banks shouldn't make it too strict in lending money but they should creating chances for individuals to borrow money in their possibilities, not to creating huge debts in order not to invent another Asian economic crisis.
| Post date | Users | Rates | Link to Content |
|---|---|---|---|
| 2021-09-28 | Vaibhavvp20 | 78 | view |
| 2021-08-29 | phungnguyen | 61 | view |
| 2021-08-29 | phungnguyen | 61 | view |
| 2021-08-29 | phungnguyen | 61 | view |
| 2021-03-31 | supc1 | 67 | view |
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Grammar and spelling errors:
Line 2, column 365, Rule ID: EN_CONTRACTION_SPELLING
Message: Possible spelling mistake found
Suggestion: couldn't
...rsonal debts that the owner of the debt couldnt repay, that devastating crisis soon spr...
^^^^^^^
Line 4, column 37, Rule ID: EN_CONTRACTION_SPELLING
Message: Possible spelling mistake found
Suggestion: shouldn't
...s. In conclusion, I believe that banks shouldnt make it too strict in lending money but...
^^^^^^^^
Transition Words or Phrases used:
also, but, if, may, moreover, so, for example, for instance, i think, in conclusion, on the other hand
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 7.0 13.1623246493 53% => More to be verbs wanted.
Auxiliary verbs: 11.0 7.85571142285 140% => OK
Conjunction : 10.0 10.4138276553 96% => OK
Relative clauses : 7.0 7.30460921844 96% => OK
Pronoun: 24.0 24.0651302605 100% => OK
Preposition: 33.0 41.998997996 79% => OK
Nominalization: 1.0 8.3376753507 12% => More nominalizations (nouns with a suffix like: tion ment ence ance) wanted.
Performance on vocabulary words:
No of characters: 1308.0 1615.20841683 81% => OK
No of words: 266.0 315.596192385 84% => More content wanted.
Chars per words: 4.91729323308 5.12529762239 96% => OK
Fourth root words length: 4.03850299372 4.20363070211 96% => OK
Word Length SD: 2.48079285742 2.80592935109 88% => OK
Unique words: 153.0 176.041082164 87% => More unique words wanted.
Unique words percentage: 0.575187969925 0.561755894193 102% => OK
syllable_count: 404.1 506.74238477 80% => OK
avg_syllables_per_word: 1.5 1.60771543086 93% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 7.0 5.43587174349 129% => OK
Article: 1.0 2.52805611222 40% => OK
Subordination: 3.0 2.10420841683 143% => OK
Conjunction: 3.0 0.809619238477 371% => Less conjunction wanted as sentence beginning.
Preposition: 4.0 4.76152304609 84% => OK
Performance on sentences:
How many sentences: 13.0 16.0721442886 81% => Need more sentences. Double check the format of sentences, make sure there is a space between two sentences, or have enough periods. And also check the lengths of sentences, maybe they are too long.
Sentence length: 20.0 20.2975951904 99% => OK
Sentence length SD: 54.8403816145 49.4020404114 111% => OK
Chars per sentence: 100.615384615 106.682146367 94% => OK
Words per sentence: 20.4615384615 20.7667163134 99% => OK
Discourse Markers: 7.84615384615 7.06120827912 111% => OK
Paragraphs: 4.0 4.38176352705 91% => OK
Language errors: 2.0 5.01903807615 40% => OK
Sentences with positive sentiment : 6.0 8.67935871743 69% => OK
Sentences with negative sentiment : 7.0 3.9879759519 176% => OK
Sentences with neutral sentiment: 0.0 3.4128256513 0% => More facts, knowledge or examples wanted.
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.373849225448 0.244688304435 153% => OK
Sentence topic coherence: 0.131951029118 0.084324248473 156% => OK
Sentence topic coherence SD: 0.131124182828 0.0667982634062 196% => OK
Paragraph topic coherence: 0.27456458929 0.151304729494 181% => OK
Paragraph topic coherence SD: 0.199677262083 0.056905535591 351% => More connections among paragraphs wanted.
Essay readability:
automated_readability_index: 12.0 13.0946893788 92% => Automated_readability_index is low.
flesch_reading_ease: 59.64 50.2224549098 119% => OK
smog_index: 8.8 7.44779559118 118% => OK
flesch_kincaid_grade: 9.9 11.3001002004 88% => OK
coleman_liau_index: 11.26 12.4159519038 91% => OK
dale_chall_readability_score: 8.25 8.58950901804 96% => OK
difficult_words: 61.0 78.4519038076 78% => More difficult words wanted.
linsear_write_formula: 8.5 9.78957915832 87% => OK
gunning_fog: 10.0 10.1190380762 99% => OK
text_standard: 10.0 10.7795591182 93% => OK
What are above readability scores?
---------------------
Rates: 61.797752809 out of 100
Scores by essay e-grader: 5.5 Out of 9
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.