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NAMA in a nutshell?

This e-mail went around last week, so some of you may have seen it already. It’s being described as “NAMA in a Nutshell”:

It is the month of August, on the shores of the Black Sea. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit. Suddenly, a rich tourist comes to town.

He enters the only hotel, lays a 100 Euro note on the reception counter, and goes to inspect the rooms upstairs in order to pick one.

The hotel proprietor takes the 100 Euro note and runs to pay his debt to the butcher.

The Butcher takes the 100 Euro note, and runs to pay his debt to the pig grower.

The pig grower takes the 100 Euro note, and runs to pay his debt to the supplier of his feed and fuel.

The supplier of feed and fuel takes the 100 Euro note and runs to pay his debt to the town’s prostitute that in these hard times, gave her “services” on credit.

The hooker runs to the hotel, and pays off her debt with the 100 Euro note to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.

The hotel proprietor then lays the 100 Euro note back on the counter so that the rich tourist will not suspect anything.

At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 Euro note, after saying that he did not like any of the rooms, and leaves town.

No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism.
And that, ladies and gentlemen, is how the Government is stimulating the economy.

3 comments On NAMA in a nutshell?

  • But what if, instead of circulating the money received by passing it on to small businesses, I mean, the butcher, the banker, I mean, hotel proprieter instead uses it to pay off his gambling debts on that sure thing in the 2:50 at Haydock/massive apartment development in Roscommon, and his drug dealer that supplied him with the high during the good times? Everyone else still out of pocket, and the hotel proprietor is looking for more money to feed his habit…

  • Are you serious? I’m unsubscribing to your RSS, I apologise, but I find this insulting to my intelligence. Are you saying that if the 1000’s of people who marched during late Summer wouldn’t have if they read this? Give me a break

  • Hi Brian,

    As you’ll have seen at the start of my post, these are not my words or thoughts.

    Kind Regards,

    Diarmuid

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