THE METAPHOR
Suits are on sale Wednesday. I get paid Friday.
I can buy the suit on Wednesday using my credit card and pay interest on the charge.
I can buy the suit on Friday and pay the higher price.
Liquidity:
I saved money from my last paycheck to buy the suit.
I buy the suit for the lower price.
I pay no interest.
I earn interest on the money I saved from my last paycheck to buy the suit.
As Eloi Papillon, a character in the novel St. Lawrence Blues (Un Joualonais sa Joualonie) by the gifted French Canadian author Marie-Claire Blais, said, "Credit is the poor man's illusion of wealth" (C'est le pauvre homme de crédit l'illusion de la richesse.)
Bon chance,
Slim
slimfairview@yahoo.com
Copyright (c) 2011 Slim Fairview
Wednesday, November 30, 2011
Liquidity: The EuroCrat's New Suit
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