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.
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
Of course, you know how it ends (if not, click here to read the rest).(Via Capitalogix with a hat tip to Andy.) P.S. I try not to be too political at Financial Armageddon -- mainly because I believe both sides have done an equally good job wrecking the American Dream -- but this cartoon (again, via Capitalogix) was just too funny to pass up:
updated Jan 29, 2012
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