the secret to get out of the loan trap
a. stop taking out loans
here's another way to get out of the loan trap. stop paying them back. they'll stop giving you loans ASAP. and for a long time after that most likely.
Funny suggestion but i look at it the other way it would work. They will definitely stop to give out loan to loan defaulters. But just know that they will also come for you so that you can pay back the loan they won't let you go free. If not i would have buy the idea.
I think governments will always keep taking care of the poor, so I don't think there will ever be a true problem.
In what country is the government taking care of the poor? In my country the government cannot help the poor and so it is in other countries. I would love to know where you are from?