- Business and Employment
Boom To Burst Explained In A New Way
Boom to Burst Explained in a humorous story
I heard this story one day which kind of explains the reason behind a countries Boom to burst in a short but funny way. I choose Ireland as the featured country because it is a classic case that match, this story.
It all started in a town called Killarney in the west of Ireland. One day this American came to Killarney looking to stay in a nice hotel. So as the American walked around he spotted this nice looking hotel, so in he goes to check the place out. Once inside he walked up to reception and asked could he see a room before he decides if he will stay or not. The man at reception was also the hotel owner.
So the owner looks at the American up and down and says. You can go up and inspect any of the rooms once you put 100euros up on the counter here as security and when you are finished you can have your 100euros back. Ok said the American, he thought it was a bit weird leaving 100euros on the counter, but said what the hell I am in Ireland after all.
So of goes the American up the stairs to check out the rooms.
Now the hotel owner looked at the 100euros picked it up and walked down to the butcher shop with the money. The hotel owner owed the butcher 100euros for meat that he got on credit, so he paid the butcher with the American's 100euro. The butcher said thanks very much that's your bill all cleared.
Now the butcher picked up the 100euro and went around to this prostitute that he owed 100euros for services provided in the past. The prostitute says thanks very much that's your bill all clear.
Now the prostitute goes around to the hotel owner because she owed him 100euros for the use of a room every now again. The hotel owner says thanks very much, that's your bill all cleared and he puts the 100euros back on the counter.
Just than the American comes back down the stairs and says I don't think I will stay here. The hotel owner says that fine. The American takes his 100euros of the counter and leaves.
All bills have being paid but yet there was no money.
Irelands economy during the Boom was just like the story of the American. It was full of money going around. But none of it belonged to the Irish. And the trouble with Ireland's economy is that its full of greedy people who suddenly decided they are not going to pay their bills. So than comes the burst.
Now I know this story does not fully explain everything. But I enjoyed it and thought I would share it. Thanks for reading.