Re: [Goanet] The financial crisis explained in simple terms.

2009-03-25 Thread Nascy Caldeira
Hi Mervyn,   This is the first 'no nonsense' and explanatory post from you on goanet; compared to all the abstract nonsense U have posted, so far, on goanet and to me privately. U are surely improving for the better! That is a good thing. I knew U always had the potential! I look forward to

[Goanet] The financial crisis explained in simple terms.

2009-03-24 Thread Mervyn Lobo
Heidi is the proprietor of a bar in Berlin . In order to increase sales, she decides to allow her loyal customers - most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans). Word gets around