It is late June in a small sleepy town along the north shore of a beautiful lake in America. It is hot and muggy and mid-week. The town is deserted. Times are tough for all the locals. Many are unemployed, business is down, everybody is in debt and everybody is getting by on credit. Words: 464
Written by Lorimer Wilson, editor of munKNEE.com – Your Key to Making Money!
Suddenly a rich tourist comes into town – the first of the season. He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes upstairs to inspect the rooms.
Seeing the 100 dollar bill laying there the hotel proprietor scoops it up and runs down the street to the butcher to pay his outstanding debt.
The butcher, in debt up to his eyeballs, takes the 100 dollar bill and runs to the local cattle rancher to pay off his debt.
The cattle rancher takes the 100 dollar bill and runs to his feed supplier to pay his long overdue debt.
The relieved feed supplier uses the 100 dollar bill to pay the balance owing on his debt to the fuel salesman.
The fuel salesman returns to the hotel with the 100 dollar bill and pays his 2-night hotel bill that he would otherwise have not been able to pay.
The hotel proprietor then lays the 100 dollar bill back on the counter so that the rich tourist will not suspect anything.
A few minutes later the rich tourist comes down from inspecting the rooms and, saying that he found nothing to his liking, takes back his 100 dollar bill and promptly leaves town.
It has been a day to remember thanks to that rich tourist. While no one actually earned anything the whole town is now without debt and is looking to the future with a great deal more optimism than when the day began.
And that, to the average Joe, is how the United States Government is doing business today.
My Take on the Situation
This scheme of revolving credit will end badly when the pigeons come home to roost; when the piper has to be paid; when we find out that there is no such thing as a free lunch. It is just a matter of time before we become the last of society’s ‘greater fools’ and, as such, are the ones required to pay the inevitable price of achieving future economic and financial stability.
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