Why do Americans go to expensive lib art schools?

[RewriteQuran]

Quote from zdreg:

The rain beats down in a small Irish town. The streets are deserted. Times are tough. Everyone is in debt and living on credit. A rich German arrives at the local hotel, asks to view its rooms and puts on the desk a �100 note. The owner gives him a bunch of keys and he goes off for an inspection.

As soon as he has gone upstairs, the hotelier grabs the note and runs next door to pay his debt to the butcher. The butcher hurries down the street to pay what he owes to his feed merchant. The merchant heads for the pub and uses the note to pay his bar bill. The publican slips the note to the local hooker who�s been offering her services on credit. She rushes to the hotel to pay what she owes for room hire. As she puts the �100 bill on the counter, the German appears, says the rooms are unsuitable, picks up his �100 note and leaves town.

debt issue solved.

Interesting example. Will it work in real world?

 

[tman]

Quote from RewriteQuran:

Interesting example. Will it work in real world?

The Bernanck is betting on it.

 

[Martinghoul]

Quote from zdreg:
The rain beats down in a small Irish town. The streets are deserted. Times are tough. Everyone is in debt and living on credit. A rich German arrives at the local hotel, asks to view its rooms and puts on the desk a €100 note. The owner gives him a bunch of keys and he goes off for an inspection.

As soon as he has gone upstairs, the hotelier grabs the note and runs next door to pay his debt to the butcher. The butcher hurries down the street to pay what he owes to his feed merchant. The merchant heads for the pub and uses the note to pay his bar bill. The publican slips the note to the local hooker who’s been offering her services on credit. She rushes to the hotel to pay what she owes for room hire. As she puts the €100 bill on the counter, the German appears, says the rooms are unsuitable, picks up his €100 note and leaves town.

debt issue solved.

Here's a very good response to this old and tired adage from Barry Ritholtz...

http://www.ritholtz.com/blog/2011/01/how-banking-works/

 

[zdreg]

Quote from Martinghoul:

Here's a very good response to this old and tired adage from Barry Ritholtz...

http://www.ritholtz.com/blog/2011/01/how-banking-works/

what does the response actually prove?

 

[Martinghoul]

Quote from zdreg:
what does the response actually prove?

Well, just like the adage itself it doesn't really prove anything. It does correctly point out that the situation described has nothing to do with debt and solvency, but is instead all about liquidity and clearing.

 

[jem]

exactly.... the money was from the german ( the bailout) was not need for that group.

They could have all gotten a google wave account. Sat at the virtual table and settled up poker style, monopoly style, debt cancellation style, made their own currency or used their intelligence.

 

[bwolinsky]

Quote from tonyalva:

Just the fact a school is in the south tells kids all they need to know. Avoid at all costs.

What a technoslovak comment.

 

[rew]

Quote from chartman:


The people in the real world knows the facts of life.

I'm in the real world. And I don't care what degree you got.

 

[ammo]

Quote from zdreg:

The rain beats down in a small Irish town. The streets are deserted. Times are tough. Everyone is in debt and living on credit. A rich German arrives at the local hotel, asks to view its rooms and puts on the desk a €100 note. The owner gives him a bunch of keys and he goes off for an inspection.

As soon as he has gone upstairs, the hotelier grabs the note and runs next door to pay his debt to the butcher. The butcher hurries down the street to pay what he owes to his feed merchant. The merchant heads for the pub and uses the note to pay his bar bill. The publican slips the note to the local hooker who’s been offering her services on credit. She rushes to the hotel to pay what she owes for room hire. As she puts the €100 bill on the counter, the German appears, says the rooms are unsuitable, picks up his €100 note and leaves town.

debt issue solved.

there was no bank involved,that's why this worked and wont work

 

[emg]

Why do Americans go to expensive lib art schools?

Simple. A student wants to grad a liberal art degree to master their personality. Liberal art students are more social vs science degree student. Liberal art students know how to have fun in life and blends in art, poetry, music, etc etc etc. The value of their personalities are high and employers will pay them $100K plus salary. The reason is, they know how to communicate employers/employees and get along with them.

A science degree tends to have a single mind (logical). "This is how it is, this is how it should be done." That is how all these high tech built like computer, cell phone, etc etc etc.