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Throughout history, it used to be that banks were blamed for NOT lending enough to low income groups or that interest rates were too high. During the agricultural age, loans were extremely rare: a tea farmer knew he can only drink the tea after the harvest. (A loan is what lets you enjoy something before having earned the money to pay for it.) Then, loans slowly became common during the industrial age, as workers would be paid only at the end of the month and their income was more predictable than a harvest. Still, the image of Scrooge (Dickens, a Christmas Carol), a cold-hearted banker who is not interested in lending, except to the wealthy, is the familiar cliché. The fact that this crisis came from the opposite excess (too easy credit) is the result of much progress. It also shows, I think, that the world has vast amounts of excess capital looking for sound and safe investments. For instance, the US government seems to have no problem finding 700 billion dollars...
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Here is some advice I would like to propose/share with my readers:
1. No need to panick, have a cup of tea and think:
2. Do you feel that your financials are sound, that you have control over them or that they control you? Do you feel comfortable with the amount of debt you have? How will you be impacted by tightened credit?
3. If you feel fine, then continue drinking tea. I'm glad for you that you have learned to live within your means and find happiness in simple things like a cup of tea.
4. If you don't feel comfortable, if you can't enjoy this cup because of the financial situation you're in, then I suggest that you take action today. It's better to reduce you debts when you decide so than when you're forced to. This means spending less and/or making more money.
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- Freeze your spending on tea accessories. You don't need to be a collector of pots or cups to enjoy tea.
- Before your next order, finish all open packs of fresh teas (green tea, unroasted Oolongs...). Drink them when they taste best.
- Learn from the Chaoshan tea culture: Enjoying high quality tea and quenching thirst are separate. Use a smaller vessel to reduce your leaf mileage! (And drink plenty of water!)
- Or select cheaper teas when you drink mainly to quench your thirst. Keep the more expensive leaves for special moments.
Enjoying tea has helped many in times of crisis. And so I hope it will also help you to relax and find your way to happiness.
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