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Tag Archives: middle-class
The European Debt Crisis – Explained
Simple 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 … Continue reading →
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Tagged a new marketing plan that allows her customers to drink now, 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., and transform these customer loans into DRINKBONDS, as such, at regular intervals, bank's corporate headquarters, being unemployed alcoholics, but pay later, By providing her customers freedom from immediate payment demands Helga gets no resistance when, can no longer afford to patronize her bar, closing the doors on a family business that had endured for three generations; her beer supplier is taken over by a competitor, DRINKBOND prices drop by 90%. The collapsed bond asset value destroys the bank's liquidity and prevents it from issuing new loans, European Debt Crisis, even though the bond prices are still climbing, expert traders figure a way to make huge commissions, Explained, Fortunately though, granting the customers' loans, He is rewarded with a six figure bonus, He so informs Helga. Helga then demands payment from her alcoholic patrons but, Helga is the proprietor of a bar, Helga's gross sales volumes and paper profits increase massively, increasing numbers of customers flood into Helga's bar. Soon she has the largest sales volume for any bar in town., middle-class, no reason for any undue concern, non-drinkers who've never been in Helga's bar, she substantially increases her prices for wine and beer - the most consumed beverages, Simple guide to what went wrong in Europe, since he has the debts of the unemployed alcoholics as collateral, soon become the hottest-selling items for some of the nation's leading brokerage houses, the bank, the brokerage houses and their respective executives are saved and bailed out by a multibillion dollar no-strings attached cash infusion from the government, The funds required for this bailout are obtained by new taxes levied on employed, the securities being sold to them as "AA Secured Bonds", 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 b, The traders all receive a six figure bonus, These "securities" are then bundled and traded on international securities markets., They all receive a six figure bonus, 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, thus freezing credit and economic activity in the community, virtually all of her customers are unemployed alcoholics and, who immediately closes the local plant and lays off 150 workers, young and dynamic vice-president at the local bank recognizes that these customer debts constitute valuable future assets and increases Helga's borrowing limit
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