About the only thing I find wrong with it is the assertion that
"America waits till Germany is about to fall over from sustained punching from Britain and France."

What I saw was Germany refreshing itself with a another stein, slugging Britain and France and then punching America after shouting to Mexico to land a punch too. Then I saw Britain, France, and Australia jump up from the floor and knock Germany groggy with a flurry of punches.

Then Britain bopped Germany with a bottle of Bass with one hand, then, with the aid of France, clobbered the Ottoman Empire with the other. While Germany was hearing birdies sing, America knocked him cold with the bar stool.

Finally, I don't remember anything about the winners buying drinks for their friends. But I do recall America swearing that was its last bar fight and it wouldn't go into a bar again.

It even made liquor illegal.