Understanding Todays Theory of Economics:

Iceman discuss’ new theory with professor Getmore in class:

Iceman: So Professor, I’ve been a businessman for most of my life. I bought things wholesale and then resold the products at a reasonable profit. The more I could purchase wholesale, the cheaper it was, and consequently I could lower the retail price. I was fortunate enough to make a decent living all these years.

GETMORE: AAHH. You see my friend, that’s the mistake many business people made. You can’t get that attached to the customer. Your supposed to squeeze every drop of blood out of them.

Iceman: What good is that? If the prices are too high, they won’t be able to buy anything.

GETMORE: Look. Rather than argue, I’ll give you some examples to prove my point. Tell me if I’m wrong. Insurance. Twenty plus years ago no one paid much. Today you pay more and more and more, while at the same time, you get less and less and less. How about gas or heating your house. People have to pay unbelievable prices for this stuff. Even I can’t believe it. Car prices are nuts. Houses?? My God man. Have you bought one lately?

Iceman: Yeah but most people are strapped and don’t have the cash to buy a lot of things even with two and three jobs.

GETMORE: Cash? Did you say CASH? How the hell old are you anyway? Ever hear the term "CREDIT CARD". It took a long time to get these fools used to plastic, and switching them from buying cars with cash, to focusing on monthly payments wasn’t easy. That gave everybody the opportunity to really boost prices without these boobs taking notice.

Iceman: What happens when they can’t make these payments?

GETMORE: You just cancel their insurance, repossess the car, foreclose on the house and resell the stuff to the next eager beaver who can handle the monthlies at the moment.

Iceman: What’s the point of all this? These people are broke. Now what?

GETMORE: That is exactly the point. When they go broke, somebody will issue them a new credit card with super high rates and that person will be right back in your place wanting to buy something else they don’t need. The icing on the cake is, you can charge them anything you want. See. It’s cyclical.

Iceman: I didn’t pay for this class yet. Can you take a check?

GETMORE: Cash only.