Austrian Analogies
So, while reading the great new book: Meltdown, by Thomas Woods (go get it now!) I was thinking of some new analogies for the current economic condition from an Austrian Economist's viewpoint. They are good ammunition when explaining the "crisis" to the uneducated.
Please post your analogies here so that we can all educate our friends and family in a more "lay person" manner:
I'll start us off with one from the Honorable Dr. Paul's repertoire, then one of my own.
Ron Paul's Drunken Economy:
The market is like drunks at a bar. Happy hour has just ended, and now they're feeling a little sick and hungover. The bartender (FED), doesn't want to see his patrons leave the bar, so instead of giving them an aspirin and some water, he decides to give everyone another round - on the house! (Taxpayers).
My A-rod Analogy:
In 2003, A-rod is having a great year. However, he's doing it using artificial means - steroids. Soon, his trainer catches on and he has to stop using the roids, and his numbers go down. Instead of working out and training harder, thereby making true production, he figures it would be less painful to take some more steroids. What he doesn't seem to notice is that the long term effects of the 'roids will actually destroy his body, and he will no longer be able to produce any numbers.
I welcome your analogies - I know there are some creative people out there!
Where is this bar you speak of?
Cause i need a drink. I have a feeling the dollar is on it's last legs - after the chinese saying they "hate us" - literally.
Not in Maine,
Not in Maine, unfortunately.
http://www.youtube.com/watch?v=R4gXpzZP7ms&feature=related
There was war between the mice and the weasels...
There was war between the mice and the weasels, in which the mice always got the worst of it, numbers of them being killed and eaten by the weasels. So they called a council of war, in which an old mouse got up and said, "It is no wonder we are always beaten, for we have no generals to plan our battles and direct our movements in the field." Acting on his advice, they chose the biggest mice to be their leaders, and these, in order to be distinguished from the rank and file, provided themselves with helmets bearing large plumes of straw. They then led out the mice to battle, confident of victory; but they were defeated as usual, and were soon scampering as fast as they could to their holes. All made their way to safety without difficulty except the leaders, who were so hampered by the badges of their rank that they could not get into their holes, and fell easy victims to their pursuers.
Moral: When confronted with Axiomatic Economics, Austrian economists asked Ron Paul to lead them. But it was not generalship that they needed; it is a rebuttal to Aguilar’s Critique that goes wanting.
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Shaka, you so crazy! www.sniperflashcards.com
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Shaka, you so crazy! www.axiomaticeconomics.com
Moonshining references are probably too obscure
But I'm sure everyone can follow the concept of watering down whiskey. Who wants to pay for whiskey that is 98% water, when you can go to the bar down the street where the shots cost the same and the booze isn't cut?