2012-06-29
Islamic State
Now that Egypt has voted for an Islamic government, which is basically an untested social experiment, we should do our best to ensure that this social experiment is conducted properly. ie not like communism where it was spread all over the world with zero testing. This is not like that. It's just one small country.
Ok, so first of all, in principle, a country without borrowing sounds appealing. I personally am highly reluctant to borrow. I did borrow to buy my first 2br apartment. But I had a deposit of 50% already. And originally I wanted to buy the place that I was renting - a 1br unit, which would have required possibly no borrowing at all. But they didn't want to sell it to us, so we moved out, and took a GAMBLE and because of Sydney house prices WE WON.
What do we do though? Do we fix house prices so that mathematically it doesn't make any difference if you borrow 0% or 100%? It's 4am here, and I think it's inappropriate to have to think about this too much at this point in time. But in short, it does sound appealing, and I'd like to know if the exact formula is outlined in the Quran or Hadiths.
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Ok, so first of all, in principle, a country without borrowing sounds appealing. I personally am highly reluctant to borrow. I did borrow to buy my first 2br apartment. But I had a deposit of 50% already. And originally I wanted to buy the place that I was renting - a 1br unit, which would have required possibly no borrowing at all. But they didn't want to sell it to us, so we moved out, and took a GAMBLE and because of Sydney house prices WE WON.
What do we do though? Do we fix house prices so that mathematically it doesn't make any difference if you borrow 0% or 100%? It's 4am here, and I think it's inappropriate to have to think about this too much at this point in time. But in short, it does sound appealing, and I'd like to know if the exact formula is outlined in the Quran or Hadiths.
# posted by Paul Edwards @ 03:40 
