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Can anyone else see what is wrong with this?

2»

Comments

  • #32
    FoxT
    Closed Accounts Posts: 4,204 ✭✭✭FoxT


    OP's assessment is incorrect.

    This is a cashflow problem.

    Except for the tourist, Every player in the scenario is owed 100, and ever player owes 100, so their net position is zero.

    When the hotelier takes the 100 off the counter, his net position is -100 (because he has borrowed the money from the tourist), but at the end of the day everybody is all square.

    You could have achieved the same thing by having each person write an IOU, and then trade the IOUs, or by getting everybody into a room & agreeing contingent debt forgiveness (I'll forgive your debt to you if the butcher forgives my debt to him...)

    This is absolutely NOT the situation in Ireland. Ireland has a massive debt caused by 2 factors:
    1- running the country costs more than tax revenues can provide
    and
    2 - the govt is borrowing money to buy (worthless) bank equity so the banks can continue to trade.

    Funny story though, I LOLed when I saw it first.


  • #33
    fontanalis
    Closed Accounts Posts: 3,619 ✭✭✭fontanalis


    Does the hotel owner have an apartment in Bulgaria?
    Anyway in your story shouldn't the hotel owner went to Germany first, or at least tell everyone the hotel is booked to capacity?


  • #34
    chin_grin
    Closed Accounts Posts: 10,808 ✭✭✭✭chin_grin


    So what you're saying is the files are IN the computer?


  • #35
    longhalloween
    Closed Accounts Posts: 2,207 ✭✭✭longhalloween


    Ok.. so what you're saying is we need a hotel that chanrges E85 billion a night...


  • #36
    tony1kenobi
    Registered Users, Registered Users 2 Posts: 3,755 ✭✭✭tony1kenobi


    It doesn't work because when the German asked to inspect the room the hotelier would have told him to f*ck off....everything after that never happened.


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  • #37
    msg11
    Closed Accounts Posts: 3,572 ✭✭✭msg11


    Ehh, what wrong with it. The tourist will suddenly have a 500€ note in front of him. When he left a 100€ note in the first place.


  • #38
    Seraphicblue
    Registered Users, Registered Users 2 Posts: 349 ✭✭Seraphicblue


    msg11 wrote: »
    Ehh, what wrong with it. The tourist will suddenly have a 500€ note in front of him. When he left a 100€ note in the first place.
    I'm not sure that you understand how money actually works :P


  • #39
    Ronin247
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Ronin247


    msg11 wrote: »
    Ehh, what wrong with it. The tourist will suddenly have a 500€ note in front of him. When he left a 100€ note in the first place.
    Seraphicblue wrote: »
    I'm not sure that you understand how money actually works :P

    Not sure you understand how the bailout will work!!

    The ECB is lending us money to pay it back its losses from gambling on Anglo and we are paying interest on the loan and the losses.


    Our government are such cowards I am ashamed of them.


  • #40
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 99,701 Mod ✭✭✭✭Capt'n Midnight


    Seraphicblue wrote: »
    I'm not sure that you understand how money actually works :P
    unlike those who lent it to us at 5.8%


  • #41
    dotsman
    Registered Users, Registered Users 2 Posts: 3,636 ✭✭✭dotsman


    Guill wrote: »
    The hotel owner is now down 100 euro, he has lost the money the hooker owed him.

    You clearly cannot grasp basic logic. The hotel owner is even money. The €100 the hooker paid him was used to clear his debts of €100.

    The whole point is everyone is even money. All money owed to them has been repaid, and all money they owed has been repaid.


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  • #42
    Fulton Crown
    Banned (with Prison Access) Posts: 2,493 ✭✭✭Fulton Crown


    Archeron wrote: »
    I wouldn't put a hundred quid down just to inspect a hotel room.

    I wonder what he found that made it unsatisfactory? Maybe the hooker and butcher doing the nasty on the bed in the room he went into. In fairness they must have all been fairly close by for that many transactions to take place while somebody is noticing the jizz stains on the hotel rooms curtains.

    What kind of scumbag would swab the weapon on a hotel room curtain ?

    Inside of the pillow cover for me every time....:D


  • #43
    Feelgood
    Registered Users, Registered Users 2 Posts: 2,191 ✭✭✭Feelgood


    Why not take the German's money and when he looks for it back tell him to fcuk off and give him a swift kick to the stones?


  • #44
    msg11
    Closed Accounts Posts: 3,572 ✭✭✭msg11


    Feelgood wrote: »
    Why not take the German's money and when he looks for it back tell him to fcuk off and give him a swift kick to the stones?

    If we take there money and say fook off, they will start a war with us for ehhhh. Our turf.

    See one of the gambles with this whole bail out is we might end up trapped in debt like africa. We start failing to pay, the money we owe will start going up and up in interest I think I am no expert..


  • #45
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 99,701 Mod ✭✭✭✭Capt'n Midnight


    msg11 wrote: »
    If we take there money and say fook off, they will start a war with us for ehhhh. Our turf.

    See one of the gambles with this whole bail out is we might end up trapped in debt like africa. We start failing to pay, the money we owe will start going up and up in interest I think I am no expert..

    Have a read of Dead Aid sometime, we have been following the African model for a long tie

    like the African countries we
    - have relied on the knowledge that money would come from Europe in the future such there was no provision for alternative revenue sources once the cash crop failed (in our case houses)
    - have massively expanded the public sector for no practical reason other than providing jobs (has it got more efficient, do we have lots more new essential services, no and no)
    - reduced the tax on individuals so that there is little or no reason for them to vote against the Government
    - didn't invest borrowed money wisely

    and the big one is if we follow the African countries and continue to rely on European finance instead of paying off the debt.


  • #46
    Guill
    Registered Users, Registered Users 2 Posts: 3,332 ✭✭✭Guill


    dotsman wrote: »
    You clearly cannot grasp basic logic. The hotel owner is even money. The €100 the hooker paid him was used to clear his debts of €100.

    The whole point is everyone is even money. All money owed to them has been repaid, and all money they owed has been repaid.




    Wrong, wrong wrong, you clearly cannot grasp basic logic.
    Tourist is even. Hotel owner has cleared everyones debt at a loss of 100 euro to himself.


  • #47
    dotsman
    Registered Users, Registered Users 2 Posts: 3,636 ✭✭✭dotsman


    Guill wrote: »
    Wrong, wrong wrong, you clearly cannot grasp basic logic.
    Tourist is even. Hotel owner has cleared everyones debt at a loss of 100 euro to himself.

    I believe facepalm pictures were invented for times like this.

    Ok, are you sitting comfortably? Take a deep breath, close your eyes and switch on your brain. All done? Good. Now please explain how you could possibly think that the owner is down €100?


  • #48
    clived2
    Registered Users, Registered Users 2 Posts: 546 ✭✭✭clived2


    If somone wrote this junk considering it to be some sort of a metaphor
    for our current economic situtation, they need a smack in the face,

    For every fool that gave a loan, credit would be charged, The money mutipler effect is what it is called.

    Lay man terms

    Their are 10 apples in the whole economy
    Consider this I have the 10 apples, I loan 10 to you but I want 11 back, you loan 10 apples but want 11.1 apples back (yeah whatever etc) go down the line a few times, 16 apples are owed, and their is only 10 in the economy, which this is why the system is flawed. Apples created out of thin air that dont exist.


  • #49
    Forest Master
    Registered Users, Registered Users 2 Posts: 1,466 ✭✭✭Forest Master


    Guill wrote: »
    Wrong, wrong wrong, you clearly cannot grasp basic logic.
    Tourist is even. Hotel owner has cleared everyones debt at a loss of 100 euro to himself.

    :rolleyes: Yeah, basic logic. You've managed to look quite the fool. How is he at a loss of €100 if he gave the butcher €100, but then the hooker gave him €100? Do you know what €100 minus €100 is?

    My post here sums it up - there's nothing more to it.


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