This Taoist story is the source for many vaudeville and comedy bits.
There was an old farmer who worked hard on his little farm. He never had much money, but he had one good horse, and a son who helped him. One day his horse ran away. His neighbor was upset, and commiserated with him about his bad luck. The farmer said, “What makes you think it is so bad?”
Weeks later, the horse trotted home–bringing with her two beautiful wild horses. The neighbor was excited, and congratulated the farmer on his good luck. The farmer said, “What makes you think it’s so good?”
The farmer’s son was thrown from one of the wild horses and broke his leg. His neighbor, once again upset, expressed sympathy for this bad luck. The farmer said, “What makes you think it is so bad?”
A war came, and every able-bodied man was conscripted and sent into battle. Only the farmer’s son, because he had a broken leg, remained. The neighbor was excited, and congratulated the farmer on his good luck. The farmer said, “What makes you think it’s so good?”
One of Archie Campbell’s versions…
Archie: Hey I guess you heard about my terrible misfortune. Roy: No, what happened?
Archie: Yeah, my great uncle died.
Roy: Oh that’s bad! Archie: No that’s good! Roy: How’s come?
Archie: Well, when he died, he left me 50,000 dollars.
Roy: Oh that’s good! Archie: No that’s bad! Roy: How come?
Archie: When the Internal Revenue got thru with it, all I had left was 25,000 dollars.
Roy: Oh that’s bad. Archie: No that’s good. Roy: How come
Archie: Well I bought me an airplane and learned to fly.
Roy: Well that’s good. Archie: No that’s bad. Roy: How come
Archie: Well I was flying upside down the other day and I fell outta the dern thing
Roy: Well that’s bad. Archie: No that’s good. Roy: How come
Roy: Well when I looked down under me and there was a great big ole haystack.
Roy: Well that’s good. Archie: No that’s bad. Roy: How come?
Archie: Well I got a little closer and I saw a pitchfork aimed right at me
Roy: Well that’s bad. Archie: No that’s good. Roy: How come
Archie: I missed the pitchfork
Roy: Well that’s good. Archie: No that’s bad. Roy: How come
Archie: I missed the haystack too.
Roy: Well that’s bad. Archie: No that’s good. Roy: How come?
Archie: Well I bounced around a few minutes and an ambulance come and took me to a hospital
Roy: Well that’s good. Archie: No that’s bad. Roy: How come?
Archie: Well I was in the hospital there for a while and I took a turn for the nurse.
Roy: That’s bad. Archie: No that’s good. Roy: How come?
Archie: Well my wife came in one day and caught me kissing this nurse
Oh that’s bad. No that’s good. Roy: How come?
Archie: She said if that was the way I was gonna act I could have that pretty nurse, she was gonna pack her clothes and go back home to momma.
Roy; Oh that’s good
Archie: You’re dern right that’s good.