🚀 go-pugleaf

How to Explain Argentina's 2002 Economic Plan to your Children:

You have two cows.  The government says to limit milk to 300 litres per
year.  You offer to sell the extra milk to a rich neighbor to the north. 
When you sell the milk, the government takes the money.  You run the
president out of office.  The next president is no better, and you run him
out of office as well.  After 6 presidents in two weeks, an even richer
neighbor even further north offers to give a large amount of money to the
government so that you can buy the milk your own cows produce.


> "The TRVTH" <nospam@newsranger.com> wrote in message
> news:3Ly28.625$YH6.126@www.newsranger.com...
> > In article <a2e90d$2ti3$1@pencil.math.missouri.edu>, Mark Graffis says...
> > >
> > >How to Explain Enron to Your Children:
> > >
> > >Feudalism - You have two cows. Your lord takes some of the milk.
> > >
> > >Fascism - You have two cows. The government takes both, hires you to take
> > >care of them, and sells you the milk.
> > >
> > >Communism - You have two cows. Your neighbors help take care of them and
> you
> > >share the milk.
> > >
> > >Totalitarianism - You have two cows. The government takes them both and
> > >denies they ever existed and drafts you into the army. Milk is banned.
> > >
> > >Capitalism - You have two cows. You sell one and buy a bull. Your herd
> > >multiplies, and the economy grows. You sell them and retire on the
> income.
> > >
> > >Enron Venture Capitalism - You have two cows. You sell three of them to
> your
> > >publicly listed company, using letters of credit opened by your
> > >brother-in-law at the bank, then execute a debt/equity swap with an
> > >associated general offer so that you get all four cows back, with a tax
> > >exemption for five cows. The milk rights of the six cows are transferred
> via
> > >an intermediary to a Cayman Island company secretly owned by the majority
> > >shareholder who sells the rights to all seven cows back to your listed
> > >company. The annual report says the company owns eight cows, with an
> option
> > >on one more.
> >
> >

-- 
-Glenn Laubaugh
member & web site editor:
++++++++++++++++++++++++++++++++++++++
Pacific Northwest Chapter of the National Railway Historical Society
Portland, Oregon
http://www.pnwc-nrhs.org