7676 replies to this topic

[skillionaire]

[Shaz]

For anyone who doesn't majorly understand what the economic problem in Europe is, but is a fan of drinking, read below. It will explain everything. Our financial planner reckons he wrote it to explain to people. Hahaha. I don't believe he wrote it, but it explains it nonetheless.

Dummies guide to what went wrong in Europe. (And USA)

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!!!


At the bank's corporate headquarters, expert traders figure a way to make
huge commissions, and transform these customer loans into DRINK BONDS.
These "securities" then are bundled and traded on international
securities markets.

Naive investors don't really understand that the securities being sold to
them as "AA" "Secured Bonds" really are debts of unemployed alcoholics.
Nevertheless, the bond prices continuously climb!!!, and the securities
soon become the hottest-selling items for some of the nation's leading
brokerage houses.

One day, even though the bond prices still are climbing, a risk manager at
the original local bank decides that the time has come to demand payment
on the debts incurred by the drinkers at Helga's bar. He so informs Helga.


Helga then demands payment from her alcoholic patrons, but being
unemployed alcoholics they cannot pay back their drinking debts.
Since Helga cannot fulfill her loan obligations she is forced into
bankruptcy. The bar closes and Helga's 11 employees lose their jobs.


Overnight, DRINK BOND prices drop by 90%. The collapsed bond asset value
destroys the bank's liquidity and prevents it from issuing new loans, thus
freezing credit and economic activity in the community. The suppliers of
Helga's bar had granted her generous payment extensions and had invested
their firms' pension funds in the BOND securities. They find they are now
faced with having to write off her bad debt and with losing over 90% of the
p
resumed value of the bonds.

Her wine supplier also claims bankruptcy, closing the doors on a family
business that had endured for three generations, her beer supplier is
taken over by a competitor, who immediately closes the local plant and
lays off 150 workers.

Fortunately though, the bank, the brokerage houses and their respective
executives are saved and bailed out by a multi billion dollar no-strings
attached cash infusion from the government.

The funds required for this bailout are obtained by new taxes levied on
employed, middle-class, non-drinkers who've never been in Helga's bar.
Now do you understand?

[skillionaire]

Oh, for Josh;

For anyone who doesn't majorly understand what the economic problem in Europe is

Banks lent money to people that can't pay it back.

H.TH

[Rosey]

Banks lent money to people that can't pay it back.

H.TH

Thank you.

[Shaz]

Banks lent money to people that can't pay it back.

H.TH

Little bit more in depth, but yeah, basically.

You'd be surprised at the amount of people who have NFI what is going on.

[skillionaire]

I understand it better than most people I talk to, but the people that really don't get, won't read that anyway.

The burning question still remains...



...is Helga hot?

[Shaz]

...is Helga hot?

Yes. And has big bewbs. And can hand deliver 17 steins in one trip.

[B4TT]

...is Helga hot?

Thank you, this is the question I had coming out of this article.

[Morgan]

Silly Euro

[skillionaire]

Silly Euro

Yes, because we are in no way compromised by our reliance on Europe or America...

[Morgan]

America?

[B4TT]

Europe?




.... Is that what we are doing? writing words with a question mark?

[Morgan]

Pretty much

Euro. As in currency.

[Morgan]

[skillionaire]

...................................because we are in no way compromised by the action of the EU.

Is that better, LukeyMorgAnus?

Also; WHAT THE HAY HAY?

http://www.helgahot....eos/videos.html

[B4TT]

The question regarding the 'hotness' of Helga really got you thinking didn't it Nik! hehe

[skillionaire]

http://www.realestat...al-3127633.html

http://quiltville.bl...lgas-house.html

[Morgan]

Lol...

Hassall Grove

[skillionaire]

http://www.offtheroa....com/helga.html

[Ren-dog]

Thats 'ing cool.

New leads are in and the car is now drivable! so much smoother and powerful