It’s really unfair that Economics got tagged as “The Dismal Science.” If you just grasp some fundamental principles, it can be a source of constant entertainment.
For instance, on Saturday Reuters reported that Germany and France want Portugal to accept an international bailout to keep its debt crisis from spreading to other countries. As detailed further — without any sense of irony — this is a followup to the recent international bailout of Ireland, which was undertaken to prevent its debt crisis from spreading to other countries. That in turn had been preceded by a few months with the international bailout of Greece, which of course had to be done to — wait for it…
…prevent its debt crisis from spreading to other countries! Get it? HAR! HAR!
It will get funnier waiting to see how soon and in which order the remaining PIIGS — Italy and Spain — are “persuaded” to accept international bailouts to prevent their debt crises from spreading to other countries. And to which countries their debt crises will then spread. Guess where this train wreck is headed? Hint: your tax dollars at work. ROFL!
It just goes to show that though the situation is hopeless, it’s not just not serious. With the intellectual titans running economies here and around the world, it’s downright hilarious.