HONG KONG CAPITALISM:
You have two cows.
You sell three of them to your publicly-listed company, using letters of credit opened by your brother-in-law at the bank, then execute an debt/equity swap with associated general offer so that you get all four cows back, with a tax deduction for keeping five cows.
The milk rights of six cows are transferred via a Panamanian intermediary to a Cayman Islands company secretly owned by the majority shareholder, who sells the rights to all seven cows' milk back to the listed company.
The annual report says that the company owns eight cows, with an option on one more.
Meanwhile, you kill the two cows because the Feng Shui is bad.
Again a simplification. The notion of Krishna as good cowherd has a certain commonality with Jesus as good shepherd. Still funny.
Note:
All avatars and any images or other media embedded in comments were hosted on the JS-Kit website and have been lost;
references to haloscan comments have been partially automatically remapped, but accuracy is not guaranteed and corrections are solicited.
If you notice any problems with this page or wish to have your home page link updated, please contact John Hardin <jhardin@impsec.org>
JS-Kit/Echo comments for article at http://smallestminority.blogspot.com/2004/06/oldie-but-goodie-economic-theories.html (5 comments)
Tentative mapping of comments to original article, corrections solicited.
REPUBLICAN is closer to
You have two cows.
Your neightbor has none.
You sell him dairy products at a suitable markup.
It's less amusing and still an abstraction which doesn't capture the entire truth, but the entire list has the latter problem.
HONG KONG CAPITALISM:
You have two cows.
You sell three of them to your publicly-listed company, using letters of credit opened by your brother-in-law at the bank, then execute an debt/equity swap with associated general offer so that you get all four cows back, with a tax deduction for keeping five cows.
The milk rights of six cows are transferred via a Panamanian intermediary to a Cayman Islands company secretly owned by the majority shareholder, who sells the rights to all seven cows' milk back to the listed company.
The annual report says that the company owns eight cows, with an option on one more.
Meanwhile, you kill the two cows because the Feng Shui is bad.
OK, those get added. :-)
INDIAN VILLAGE
You have two cows
You worship them
I have more, but they are all at work.
Again a simplification. The notion of Krishna as good cowherd has a certain commonality with Jesus as good shepherd. Still funny.
Note: All avatars and any images or other media embedded in comments were hosted on the JS-Kit website and have been lost; references to haloscan comments have been partially automatically remapped, but accuracy is not guaranteed and corrections are solicited.
If you notice any problems with this page or wish to have your home page link updated, please contact John Hardin <jhardin@impsec.org>