dave
30th September 2008, 12:24 PM
Stolen from Reddit.com:
It's called a credit crisis because most people don't realize how desperate we are.
I like to think of it this way: Lets say a bank is a pot dealer. This dealer has been a nice guy in the past, fronting OZ's, eighths, and grams because his customers are good customers. They keep coming back for more. The dealer usually thinks something along the lines of, "GREAT! More money!"
Recently, however, the dealer keeps fronting more and more pot, and not seeing any return. His customers smoke all their weed and never pay the dealer back or offer any kind of collateral (like an Xbox or a t.v.). Now the dealer is getting calls from his grower who says, "I need to pay my rent, where's the money?"
"Well I don't have it, I've been fronting to most of my customers." replies the dealer.
"Well it's time to go collect, or it's YOUR ass!" responds the grower with anger in his voice.
So the dealer starts collecting on his debts. Those who can't pay get an Xbox, a nice watch or a t.v. stolen. "Not Fair!" say the customers! "That was mine and you took it!"
"You should've payed your debt," replies the dealer, "And now I have to pawn this stuff to pay off my grower. You should've payed me the money you owe me!"
This go's on and on for a few weeks, and eventually the dealer makes some of his money back from his customers, but he still has all this money he's still owed and his customers don't have anything left for him to pawn.
So a new guy, we'll call him John Smith, moves in town. He seems cool enough, his car is hooked up, he has a really nice apartment. He comes to the dealer and says, "Let me buy an OZ. I'll give you half now and the rest later today after I cash my paycheck." The dealer refuses and says, "No, I need the cash now, or no deal."
John Smith gets pissed, "Why not? I'm good for it."
"I can't front anything anymore," says the dealer. "I don't have enough to cover me if you can't pay, no matter what. I just can't really risk fronting to anyone anymore because I'm so broke that I can barely pay my rent. I might get kicked out of my apartment soon because I can't pay my bills and my grower still wants the money I owe him or he'll take all of my stuff!"
Now the dealer can risk going to his parents and asking for money, which they have a lot of, but they'll want the money back as soon as possible, and ***** every chance they get. What's more, the dealer might get in serious trouble with his parents if they find out why he has no money.
Panicking, he begrudgingly asks his parents for money, "I'll explain later, but my bills are due by the end of the day or my power gets cut off and my landlord kicks me out."
"That's ok," his parents say, "we'll cover your debts...again...but you have to move back in with us until you can learn some fiscal responsibility!"
It's called a credit crisis because most people don't realize how desperate we are.
I like to think of it this way: Lets say a bank is a pot dealer. This dealer has been a nice guy in the past, fronting OZ's, eighths, and grams because his customers are good customers. They keep coming back for more. The dealer usually thinks something along the lines of, "GREAT! More money!"
Recently, however, the dealer keeps fronting more and more pot, and not seeing any return. His customers smoke all their weed and never pay the dealer back or offer any kind of collateral (like an Xbox or a t.v.). Now the dealer is getting calls from his grower who says, "I need to pay my rent, where's the money?"
"Well I don't have it, I've been fronting to most of my customers." replies the dealer.
"Well it's time to go collect, or it's YOUR ass!" responds the grower with anger in his voice.
So the dealer starts collecting on his debts. Those who can't pay get an Xbox, a nice watch or a t.v. stolen. "Not Fair!" say the customers! "That was mine and you took it!"
"You should've payed your debt," replies the dealer, "And now I have to pawn this stuff to pay off my grower. You should've payed me the money you owe me!"
This go's on and on for a few weeks, and eventually the dealer makes some of his money back from his customers, but he still has all this money he's still owed and his customers don't have anything left for him to pawn.
So a new guy, we'll call him John Smith, moves in town. He seems cool enough, his car is hooked up, he has a really nice apartment. He comes to the dealer and says, "Let me buy an OZ. I'll give you half now and the rest later today after I cash my paycheck." The dealer refuses and says, "No, I need the cash now, or no deal."
John Smith gets pissed, "Why not? I'm good for it."
"I can't front anything anymore," says the dealer. "I don't have enough to cover me if you can't pay, no matter what. I just can't really risk fronting to anyone anymore because I'm so broke that I can barely pay my rent. I might get kicked out of my apartment soon because I can't pay my bills and my grower still wants the money I owe him or he'll take all of my stuff!"
Now the dealer can risk going to his parents and asking for money, which they have a lot of, but they'll want the money back as soon as possible, and ***** every chance they get. What's more, the dealer might get in serious trouble with his parents if they find out why he has no money.
Panicking, he begrudgingly asks his parents for money, "I'll explain later, but my bills are due by the end of the day or my power gets cut off and my landlord kicks me out."
"That's ok," his parents say, "we'll cover your debts...again...but you have to move back in with us until you can learn some fiscal responsibility!"