Saturday, August 22, 2009

The Keg of Beer and the Ten-cent Piece

Here's a story created by "Bible Bill" Aberhart, one of the founders of the now defunct Social Credit party, and premier of Alberta, 1935-1943.

The Keg of Beer and the Ten-Cent Piece

Pat and Mike were rival saloon keepers in a dried-out prairie town, now almost deserted because of the depression. It was a hot day, and the two saloon keepers sat in their respective doorways waiting for customers that never cam. Pat's stock-in-trade consisted of a keg of beer and a dime. Mike's stock consisted of a keg and a powerful thirst.

Called Mike, "Say Pat, I'd like a drink this fine day."
"Why don't you help yourself?" replied Pat.
"It's my stock-in-trade I'd be drinkin' and I can't afford to treat myself," Mike argued.

Whereupon Pat thought of a way out. He crossed over to Mike's saloon, thrust his dime on the counter, and called out loudly for a glass of beer. Surprised, Mike filled the order.

Pat quaffed the glass, turned to Mike and remarked, "Now you cross over to my saloon and buy yourself a drink, me boy."

So for the rest of the day, Pat and Mike crossed and recrossed the road, circulating the dime to buy a drink here and a drink there, until both kegs were exhausted.

This story puts Walt in mind of some of the "stimulus programs" which President O'bama (sure and his first name should be "Pat") and Prime Minister Harpoon tell us are going to make our economy prosperous again...any day now. Isn't there a fallacy there somewhere? I only took economics for one semester -- one semester too long -- but can still see that there's something wrong with that picture. Can someone explain the logical or economic error?

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