The Dollar Debt Spiral

There once lived a worthy, wonky his view, Having invented a business model, Craftily he called it as Debt Spiral— This creative, cock-eyed guy— Brummell Beau! Got many a suit by his tailor made, All on credit— big as his business was, On highest crest he enjoyed credit grade, And sure his business grew pulling no pause. When so his tailor talked of unpaid bill, Three more suits he would order on credit, Pushing the spiral of debt— way uphill, Poor tailor worried was—at end of wit. World’s Uncle Sam today treads on this trail, Its dollar debt breaching the global roof, Producing a package of Holy Grail, Gullible Faith, when hast thou needed proof? And nations nudged are on green backs to trade, Sprouting and pushing up paper credit That, if not junk, nigh but of sub-prime grade, Backed by gold, goods nor yet goodwill a bit. There seems no alt, Euro in crisis worst, Their pledges far less than plenty can pool, Not more than wool in eyes world’s left to trust, And globe’s gullible suffer silent fool. Yea, China may be too eager to wear The pinching shoes— with little trust, least faith, As trade spouse, yet to prove she’s not unfair, So, Dollar's here till one parts— debt or death! Tailors of world may have a grudge to nurse, But Brummell had invented male trousers, He sure deserves his coveted a crown— For catching world tailors clueless, pants down! ___________________________________________ Tongue-in-cheek | 02.06.2010 | Poet’s Note: In ancient India, Charvak talked of rinam kritvaa gheetam pibet… incur debt and enjoy. USA today follows this dictum to perfection. Countries like Japan that export more than they import have a huge balance of trade, which when saved has to be kept in a reserved currency like Dollars. You save and keep these savings in the form of Dollar Bonds. Many countries do so. China is another among the big. USA invests this money to be prosperous. Today, it seems only fools save. You are smart if you can borrow big, consume big. This narrative poem tells us how it all started.