Global Debt
It is August.
In a small town on the South Coast of France the
holiday season is in full swing, but it is raining so there is not too
much business happening.
Everyone is heavily in debt.
Luckily, a rich Russian tourist arrives in the foyer of the small
local hotel. He asks for a room and puts a €100 note on the reception
counter, takes a key and goes to inspect the room located up the
stairs on the third floor.
The hotel owner takes the banknote in a hurry and rushes to his meat
supplier to whom he owes €100.
The butcher takes the money and races to his supplier to pay his
debt.
The wholesaler rushes to the farmer to pay €100 for pigs he
purchased some time ago.
The farmer triumphantly gives the €100 note to a local prostitute
who gave him her services on credit.
The prostitute goes quickly to the hotel, as she was owing the hotel
for her hourly room use to entertain clients.
At that moment, the rich Russian is coming down to reception. He
informs the hotel owner that the proposed room is unsatisfactory. He
takes back his €100 and departs.
There was no profit or income. But everyone no longer has any debt
and the small townspeople look optimistically towards their future.
COULD THIS BE THE SOLUTION TO THE GLOBAL FINANCIAL CRISIS??
Al.
