Everything you need to know about world economies in 30 seconds

[Phoebe Loosinhouse]

My father defined an "economy" for me when I was about six -

2 towns decide to do each other's laundry.

There you go - money offered for services even though each could have performed that service for themselves if they had the
1)time
2)energy
3)desire

It is WORTH it for them to send their laundry out because that affords them extra

1) time to devote the
2)energy into something they
3) desired to do more.

Plus, they EARN money for doing someone else's laundry, although not for doing their own.

Right now we (the USA) is sending out all of our laundry, but no one is sending us theirs.

We will build up big IOU's in the world's laundries. At some point they will stop accepting our dirty laundry until we pay up our old invoices. That will be hard to do since we aren't generating new income. We will pay little bits on the old invoices, but still generate new ones. At some point, they will reluctantly cut us off.

At this point, we will have to do our own laundry for ourselves for free. Since we won't be bringing in any money at all, at some point we will even stop doing this because we won't be able to afford the soap, hot water, dryers. etc. Our laundries will be still.

[annabanana]

1. I think your Dad is one sharp tack!. . . . n/t

[Phoebe Loosinhouse]

2. Thanks. He was and still is

although a lot of time has passed since I was six. It's amazing how imprintable we are at young ages and how some things stick. I have not found a flaw in his little parable so far.

Economies are fantasies that we all agree too because they make sense in our daily lives.

[JackRiddler]

3. "Global Politics in 30 Seconds"

The sad truth - a logical corollary to the economic picture.

http://thatvideosite.com/view/2179.html