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Amid all the
acronyms and jargon, propagandizing and lying, and delusional groupthink, it
can difficult for most people (including me) to get a handle on events across the pond
. However, one blogger has managed to clarify matters in hilarious
fashion. In "The
Laws of Economics for the Drinker and Banks," reszatonline brings us the definitive guide to what went
wrong in Europe.
Helga is the proprietor of a bar.
She realizes
that virtually all of her customers are unemployed alcoholics and, as such,
can no longer afford to patronize her bar.
To solve this
problem, she comes up with a new marketing plan that allows her customers to
drink now, but pay later.
Helga keeps
track of the drinks consumed on a ledger (thereby granting the customers’
loans).
Word gets
around about Helga’s “drink now, pay later” marketing
strategy and, as a result, increasing numbers of customers flood into
Helga’s bar.
Soon she has the largest sales
volume for any bar in town.
By providing
her customers freedom from immediate payment demands, Helga gets no
resistance when, at regular intervals, she substantially increases
her prices for wine and beer, the most consumed beverages. Consequently,
Helga’s gross sales volume increases massively.
A young and
dynamic vice-president at the local bank recognizes that these customer debts
constitute valuable future assets and increases Helga’s
borrowing limit.
He sees no
reason for any undue concern, since
he has the debts of the unemployed alcoholics as collateral!!!
Of course, you
know how it ends (if not, click here to
read the rest).
(Via Capitalogix with
a hat tip to Andy.)
P.S. I try not
to be too political at Financial Armageddon --
mainly because I believe both sides have done an equally good job
wrecking the American Dream -- but this cartoon (again, via Capitalogix)
was just too funny to pass up:
Michael J. Panzner
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