2010 Jan 14 - Thu
Definition of a Banana Republic
In a missive from Contrarian Profits newsletter today, they drew nice intimated
an interesting parallel between a Banana Republic and a certain relatively large,
very well known country. The recipe for a Banana Republic, as described by
Justice Litle, Editorial Director, Taipan Publishing Group.
Wikipedia defines "Banana Republic" as a pejorative term for a country that is
politically unstable, dependent on limited agriculture (e.g. bananas), and
ruled by a small, self-elected, wealthy, and corrupt clique.
Ingredients:
- out-of-control printing presses
- currency restrictions and controls
- strangling regulation and red tape
- aggressive nationalization of private assets
- extravagant social programs (bribing the poor)
- deeply corrupt financial structures (bribing the connected)
- crushing pressures on small business (extorting the middle class)
Directions:
- Combine fervent promises of "hope," "change" and "revolution" in demagogue crockpot. Bring mixture to a slow rolling boil.
- As mixture firms, stir in aggressive spending plans and "revolutionary" public adjustments. Sprinkle liberally with insider connections and oligarchic financial loopholes to maintain smooth consistency. Let simmer for a full election cycle on low-heat propaganda flame.
- Pour filling into flaky self-righteous crust. Top with blatant corruption, repressed scandal and outright nationalization. Bake in fiscal suicide oven until inflation thermometer registers 30%+ and insider cronies are sufficiently enriched.*
*As with a delicate souffle, the middle class must not experience complete collapse during this phase. If this happens, you have inadvertently followed the recipe for a coup.
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