Saturday, August 6, 2011
Triple A - Double A, who cares right?
Okay, as we all know, the US's credit rating has dropped from triple A to double A. No big deal right? Well, let's just check in on the US's major creditor and see what they think. I'm sure they will be understanding.
Bank Clerk: Mr. Um, Rich Uncle Pennybags I got a loan application for you.
Uncle Pennybags: That so Junior?
Junior: Yep, names uh, Uncle Sam. Looks like he landed on Boardwalk and we got a hotel on it.
Uncle Pennybags: what do their financials look like?
Junior: Well, let's see, income $22,000 a year - spends $37,000 a year and has $143,000 in unsecured debt.
Uncle Pennybags: That all?
Junior: No, seems Mr. Sam has a over $1,000,000 in future obligations as well.
Uncle Pennybags: Hmm, How much do they want?
Junior: $15,000 this year and another $15,000 a year for the next 50 years.
Uncle Pennybags: Wait a minute, isn't this the same guy who landed on Boardwalk last time around?
Junior shuffles through the huge file: Yep, and the time before that, and the time before that..
Uncle Pennybags holding up his hands: Okay, okay I get the picture. Tell him we are going to need some collateral this time. Let's see, yeah, tell them to get their aircraft carriers out of Asia, throw in Yellowstone National park, oh yeah, and the Washington Monument as well that'll look good in Tiananmen Square.
Junior (smiling): Yes sir Uncle Pennybags, I'll get right on it.