[freespirited]

Cheers!

(NOT)

[NavVet]

bookmark

[WayneS]

Kind of makes you want to PUKE, doesn’t it?

[Wolfie]

Perfect. But don’t forget the part where the bank takes the bailout money and gives huge bonuses to the geniuses who created the bonds, because, hey, you don’t want talent like that to get away.

[ClearCase_guy]

Reminds me of the old quote from William McChesney Martin: the job of the Federal Reserve is "to take away the punch bowl just as the party gets going".

What we've seen lately is that folks were allowed to stay and drink far too long. Now we've got the hangover.

[villagerjoel]

The story was fine, but this line “Word gets around and as a result increasing numbers of customers flood into Heidi’s bar.” should have read,

“The city government decides that they are concerned that the homeless cannot also get drinks put on their tab just as the regular customers are doing. They pressure Heidi into providing expensive drinks to the homeless as well as her regular paying customers.”

[P8riot]

pretty good analogy

[svcw]

The bail out is easy: take from the producers and give to the dead beats.

[Rippin]

Tapped out?

[mikelets456]

What’s so hard to learn about the “bailout”?
-It’s a payback for all radical groups that gave these criminals money.
-Steal wealth and destroy this country and the people.
-Can’t beat us by force, then bankrupt us.
-Oppress the people, steal their spirits and take everything...then move on to the next country!

Any questions?

[M0sby]

Wait!!!
How about the part where the Government tells Heidi that she MUST make these loans to even the most destitute of the Alcoholics to ensure that everyone gets “their fair chance” to drink themselves silly!
It wouldn’t be fair of her to decide who should get the credit and who shouldn’t.

[KarlInOhio]

You left out the part where AA gives the bonds a AAA rating without ever looking at a single alcoholic at the bar.

[F16Fighter]

DRINKBONDS, ALKBONDS and PUKEBONDS.

I can't understand why these bonds should be worth anything less than CARBONCREDITS.

Btw, great post.

[Iron Munro]

ECO 2009 in terms even I can understand

Hat Tip: Theo Spark @ Last Of The Few

[FreedomNotSafety]

I’m going to blast e-mail this. Who is the author?

[detective]

This a very good metaphor for what really happened and what caused the original financial crisis. You forget the part that the bar owner would never sell drinks that couldn't be paid for. The government decided that drinking was a constitutional right and that enough credit was not being extended to poor people and minorities and demanded that that bar owners provide such credit or they would be prosecuted. The government set up an entity called Fannie Drunk and bought the debt and sold it to banks and provided an implicit (though not real) government guarantee.
The second part of the economic problem is caused by out of control government spending and the expected attack on the private sector. This is what we are going through now.

[detective]

This a very good metaphor for what really happened and what caused the original financial crisis. You forget the part that the bar owner would never sell drinks that couldn't be paid for. The government decided that drinking was a constitutional right and that enough credit was not being extended to poor people and minorities and demanded that that bar owners provide such credit or they would be prosecuted. The government set up an entity called Fannie Drunk and bought the debt and sold it to banks and provided an implicit (though not real) government guarantee.
The second part of the economic problem is caused by out of control government spending and the expected attack on the private sector. This is what we are going through now.

[george123]

The bar’s board of directors consisted of Chris Von Dodd and Barney Von Frank who still oversee the bar’s operations. They have blamed the problem on the greed of the beer and wine suppliers.

[CharacterCounts]

Obama and the Dems, without a clue as to how the game is played, went “all in” with the economy.

[Don Corleone]

“Gee, I could have had a V-8”(Sarah)

[unkus]

ping

[NoMarxist2010]

Here is an explanation on the BAIL-OUT...PORK & SOCIALISM!!!

[AuntB]

Good analogy!

Here’s mine:

A trucker planned to buy watermelons in Texas for $1.00, haul them to New York and resell them for $1.00. After a few months, he realized he wasn’t making any money. So...he took out a loan and bought a bigger truck!

This is exactly what the democrat/Obama ‘stimulus’ plan is. We got in this mess by spending more than we had coming in, by loaning money to people who wouldn’t/couldn’t pay it back. And what is their answer? Borrow a couple trillion dollars so we can do it some more!

[longtermmemmory]

the addition I would suggest is that the bonds were seen as secured by the value of the bar. The bank insisted on appraising the bar using one of their special appraisers. The bank planned on lending the most money possible before flipping over and selling the promissory note on the open market.

[Lazamataz]

Heidi.

[Post Toasties]

DRINKBOND and ALKBOND drop in price by 95%. PUKEBOND performs better, stabilizing in price after dropping by 80%.

PUKEBONDs probably did better because you can recycle the recovered alcohol:)

[aShepard]

Did Barney Frank and Chris Dowd belly up to the bar with Franklin Raines and Gorelick in tow???

[Wolfie]

To make the analogy whole, you’d have to add in that Heidi realizes that she’s making money on the fees the alcoholics do pay to drink. Lots of it. And so she starts pursuing alcoholics to come in and run up a tab. And then Heidi sells the bar for a huge profit a month or two before it all goes belly up. That’s World Savings right there.

[SE Mom]

not sure whether to laugh or cry...or both. Thanks for posting!