With the U.S. sinking hopelessly into a black hole of debt, and households facing an avalanche of tax hikes that will at best postpone the nation's day of bankruptcy, we are all hard-pressed at this point to see a way to a happy ending. Lo, along comes an anonymous e-mail that describes a way to solve everyone's debt problems painlessly. If you think the plan can work, I would urge you to forward it to your congressmen. But if you see a fatal flaw in the logic, please leave a comment :-). Here's the magical plan to cure America's"Accounts Receivable Crisis":
"It is the month of August, on the shores of the Black Sea . It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit.
"Suddenly, a rich tourist comes to town.
"He enters the only hotel, lays a 100-euro note on the reception counter, and goes to inspect the rooms upstairs in order to pick one.
"The hotel proprietor takes the 100-euro note and runs to pay his debt to the butcher.
"The butcher takes the 100-euro note and runs to pay what he owes the cattle ranch owner.
"The cattle ranch owner takes the 100-euro note and runs to pay his debt to his supplier of feed and fuel.
"The supplier of feed and fuel takes the 100-euro note and runs to pay his debt to the town's prostitute that, in these hard times, proffered her 'services' on credit.
"The prostitute take the 100-euro note and runs to the hotel to pay for the rooms she rented when she brought her clients there.
"The hotel proprietor then lays the 100-euro note back on the counter so that the rich tourist will not suspect anything.
"At that moment, the rich tourist comes down after inspecting the rooms, takes the 100-euro note off the desk, tucks it back into his wallet, and explains that he did not like any of the rooms. He then leaves town.
"No one earned a penny. However, the whole town is now without debt and looks to the future with great optimism.
"And that, ladies and gentlemen, is how the United States Government is doing business."
Come to think of it, that is almost exactly the way Uncle Sam is handling the debt problem. Your comments are welcome at the forum.
5 comments to HOW TO SOLVE THE ECONOMIC CRISIS
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Unknown Dear Walt,
You are right, dear Walt...which is why many have advised the masses to buy gold. How are you? Hope all is well with you. Have a nice weekend,Walt.
Cheers
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ocho-onda The present and future generation of Americans are paying for the excesses and sins of the previous.
It all started when Nixon was allowed to get away with printing banana banknotes!
The days of the USD as the world's sole trading currency are numbered and I am afraid the future of the Americans and hence the rest of the world seems very bleak, as seen from the present perspective as there is no way they can repay their national debts save from committing highway robbery !
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Unknown Dear Ocho-Onda,
Indeed the future does seem bleak for mankind. While we may laud progress in the name of development, inventions and technology, we have regressed to even feudal times where power and wealth are in the hands of a select few. As it stands, the rest of us are at the mercy of those who walk the corridors of power.
Is salvation in the horizon for our economies? I think not. :-(....There is more that will happen...
Your observation is sharp and quite accurate and the sorry sate of affairs has transformed some into piranhas.
Walt Gold and Silver are the only thing that is real. The paper that we use for money, is only worth what you think.