This page has been archived and commenting is disabled.
Wednesday Humor: The 10 Principles Of Economics, Revisited
Some clarification from Wu Tang Finance on the ten key principles of economics...
"they ain't no such thang as free lunch... if you haven't figured that out yet in yo life, we is shaking our heads at ya...
PV=MV bitches. Velocity of money just not picking up boo. People been deleveraging up in here."
Via @Wu_Tang_Finance
THE TEN PRINCIPLES OF ECONOMICS, REVISITED
1.People Always Facing Tradeoffs.
They aint no such thang as free lunch. If you haven’t figured that out yet in yo life, I’m shaking my head at ya. To get yo hands on one thing, you gotta give up something else in return. Making decisions requires trading off one goal against another. Whether it be fo’ yo goals of wealth, fo’ shawties, drank or food, you gotta give up something in return.
2.The Cost of Something is What You Give Up to Get It.
Decision-makers gotta understand both the direct and indirect costs of their actions. Cash rules everything around you, but you best protect ya neck from negative externalities. Sometimes that paper clouds ya judgment. Yo Enron, shawty!! What did dat accounting scandal do to yo reputation? Company? U was chasin that short term gain now look atcha you took down an oil giant and a storied accounting firm with ya sorry ass.
3.Rational Dealers Think at the Margin.
True thugs live their lives at the margin (http://rapgenius.com/1148769). A rational gangsta ass banker takes action if and only if (“iff” for you math geeks out there, shoutout & respects to the QED crew) the marginal benefit of such action exceeds dat marginal cost. Don’t hold too much product on ya if the cost of carry be high. Whether if you slanging financial products or if u slanging other “high margin” goods.
4.People Respond to Incentives.
Behavior changes when costs or benefits change. This is truuuuuu in all aspects of life. Think bout thatshawty u chasin. Why u in hot pursuit tho? Incentives? Why u working them long nights? To get that cream? Simple shit bruh.
5.Trade Can Make Everyone Better Off.
Free trade of goods and services allow individuals to specialize skills, be rewarded economically and benefit others all at once, which gets me moderately turnt. That division of labor be some trill ish. Governments sometimes create disincentives that make people worse off.
6. Markets Are Usually a Good Way to Organize Economic Activity.
Watchout otherwise that invisible hand gonna slap you hard in the face. Households and firms that are interacting in the free market allocate resources efficiently.
THIS IS A HARD ONE TO COMPARE TO THE REAL WORLD THO. THE GOVERNMENT HAS ITS HANDS ALL UP IN MY PRIVATE MARKETS AND THAT’S NOT COOL DAWG SOME MARKETS IS UNDER 18 YEARS OLD. For real, look at markets where the government is less involved….technology for example. PRICES DECREASE OVER TIME AS RESOURCES ARE ALLOCATED EFFICIENTLY TOWARD PROFIT GENERATIN PRODUCTS. The opposite of this prosperous, tax revenue-generating, catalyst of economic activity is those markets organized by central planners within the government. Think higher education prices (ANNUAL PRICE INCREASES ARE HIGH AF) and healthcare costs (DAMN I GET FADED THINKING BOUT THOSE PRICES). Those markets are controlled by government whether it be credit monopolization or price oversight….
7.Governments Can Sometimes Improve Market Outcomes.
NAH JUST KIDDING DUDE WAS FADED WHEN HE THOUGHT OF THIS ONE LOL.
8. A Country's Standard of Living Depends on Its Ability to Produce Goods and Services.
What explains these big-ass differences up in livin standardz among countries over time, biatch? Almost all variation in livin standardz be attributable to differences up in countries' productivity (goods and services, yo). Productivitizzle is tha quantitizzle of skillz produced from each unit of a workers time. In *theory*, the growth rate of a nation’s productivity determines tha growth rate of average income.
9.Prices Rise When the Government Prints Too Much Money.
In a *simple* supply and demand relationship, if one increases the supply of a good like mad, then the price of that good will have to decrease.
This one trips me out when we consider the past few years of the dollar’s value, B. This is where I need some expert Atlantic-economist-journalist ta tell me why our crazy asses have peeped no "inflation" since embarkin up in all dat asset purchasing, or QE. Put a house up on that ass, that’s an ass-state.
While many worry that tha rapid rise up in tha Fed’s balance sheet (value of securities held at da Federal Resereve) will invariably result in a rapid rise up in tha money supply up in tha real economy, this hasn’t been the mf case. Most of tha purchases intended ta pump money tha fuck into tha real economizzle have straight-up sat idle wit tha Fed as excess reserves. Some shawties would argue that the government’s emasure of inflation is whats really trippin.
PV=MV bitches. Velocity of money just not picking up boo. People been deleveraging up in here.
10. Society Faces a Short-Run Tradeoff Between Inflation and Unemployment.
I AINT GONNA GET INTO THAT DUDE PHILLP’S CURVE AT ALL BRUH. All I gotta say is dat policymakers can and do exploit this tradeoff rockin various policy instruments, n u can take that all the way to yo bulge bracket bank. For example, by changin the amount it spends, the amount it taxes, n' tha amount of cream it prints, Policymakers can influence the combination of inflation n' unemployment tha economy experiences.
‘YELLEN HAVE A DREAMMMMM….. of maximal employment. She is from Brooklyn zoo too…RIP ODB…
Peace.
»
- 26351 reads
- Printer-friendly version
- Send to friend
- advertisements -
What do you get when you cross a SNAP recipient with a politician? Someone who is too lazy to steal.
"Prelimbic, single-helix mutoids."
Hill Street Blues
Is Mrs Cleaver online? I don't speak jive and I need some interpretation help.
http://www.youtube.com/watch?v=190iqepL-G4
Regards,
Cooter
The only thing I liked about the king was his English.
Q : What do the post office and Thom McCann have in common?
A : 50,000 black loafers.
that's almost whas up; fed could give shit bout employment and inflation son that's shame on a nigga that runs game a nigga track shit; Fed running their owner PDs game on all of us like a mountain climber who plays an electric guitar.. RIP Dirt McDirt.
Good shit.
Now we just need to tie Msrs. Yellen down and do a Clockwork Orange forced viewing PowerPoint presentation narrated by Snoop Dog.
Its the Wu World Order
Yellen's got no velo.
"just turn up the volume"...that's all you need now. http://www.youtube.com/watch?v=ifoy6_nARUc peace out.
How dare you doomer douche bags fuck with the Wu. It's the jump off Tyler (so don't be a douche):
http://youtu.be/rQAyZ7cTsDA
LMFAO
You want doomer. Here's doomer:
I am sick and tired of "deleveraging". What bullshit euphemistic silliness is this? I saw it in a ZH article, too. "The world is deleveraging in the ultimate deflationary event and the Fed has to print the replacement money."
Not deleveraging. DEFAULT. Saying "deleveraging" implies discretion. It suggests someone has the wherewithal to pay down debt. They ain't paying down debt. They are zeroing debt.
Fuck deleveraging. Say default. That's what it is.
Default!
Default !!
D Falt, bitchez!
Not my fault, it's deh' fault, bitchez!
Detroit!
You didn't make that default.
I refuse to read articles written in rap-crap patois.
Patois? Is that like pate made with chicken livers and bacon grease?
It was painful reading it.
Fool. Have yo boy read it to you.
This is a perfect example of Neo-darwinist populism infecting the few places left for "intelligent" discussion of an economic perspective of the human condition. There goes the neighborhood….Florida, I think….
It's evolutionary in its de-evolutionary backwards inductive neo-multicultural milieu.
What he said... and where is Flo Rida anyhow?
What's a wannabe bankster?
"Organized crime, infratated the force
We above the law, that's 'cuz we paying 'em off
Gave my debt to society, but where's my change
For when I went in, I came out worse or even the same"
Sticky Fingaz
This shit is real out here, protect ya goddamn neck!
http://www.youtube.com/watch?v=VsEpjTcWkyw
Even the Tylers know Wu-Tang Clan ain't nothin to fuck wit.
What the fuck did I just read?
That wasn't a read. You just got dildoed.
Yeah, the text was not so good, but the illustrations made it worth looking at.
Dildoed, Dildoed Baggins'd.
Couldn't stand the author's rhetoric, had to stop reading.
Bullish Tide Detergent.
I trust Wu-Tang Financial with my money more than Moron Stanley, Goldman Sucks, or Shitty Bank. Their word is bond unlike the Fed which only buy bonds.
Comedy gold ZH posters. Once again, in a quiet public settling getting stares over my laugh outbursts. I just look back at them, shake my head. Tell them, you just wouldn't understand.
Thank you for the needed laugh.
So the vaunted "ZeroHedge racial policy" doesn't apply here? Why not? Because it's ok to deride urban blacks?
Any other groups it's ok to deride? Are there any that are not ok to deride?
no one is deriding blacks here: it's inside joke re: wu-tang mythology/iconography. it's like The Shaolin = Staten Island.
and there's a lotta n words n cursing in it. trust me, nothing racial at all nor discriminatory.
Da Jews
werd up!
But Wu Tang is Chinese sounding so it's okay.
Slang boom-bangs like African drums
(He'll be) coming around the mountain when I cum
Crazy flamboyant for the rap enjoyment
My clan increase like black unemployment
Yeah, another one down, G-g-genius
Take us the fuck outta here
[...]
First of all, who's your A&R?
A mountain climber who plays an electric guitar?
But he don't know the meaning of dope
When he's looking for a suit-and-tie rap that's cleaner than a bar of soap
And I'm the dirtiest thing in sight
Matter of fact, bring out the girls and let's have a mud fight
[Hook]
Shame on a nigga who try to run game on a nigga
Wu buck wild with the trigger
Shame on a nigga who try to run game on a nigga
I'll fuck your ass up!
[Ol' Dirty Bastard]
(Yo hut one, hut two, hut three, hut!)
Ol' Dirty Bastard, live and uncut
Styles unbreakable, shatterproof
To the young youth, you wanna get gun? Shoot!
Blaow! How you like me now?
Don't fuck the style, ruthless wild
Do you wanna get your teeth knocked the fuck out?
Wanna get on it like that, well then shout
[Method Man]
Yo RZA, yo razor, hit me with the major
The damage, my Clan understand it be flavor
Gunning, humming coming at ya
First I'm gonna get ya, once I got ya, I gat ya
You could never capture the Method Man's stature
For rhyme and for rapture, got niggas resigning, now master
My style? Never!
I put the fucking buck in the wild kid, I'm terror
Razor sharp, I sever
The head from the shoulders, I'm better, than my competta
You mean competitor, whatever, let's get together
[Hook]
[Raekwon]
I react so thick, I'm phat and yo
Rae came blowing and blew off your headphones black
Rap from yo Cali to Texas
Smoother than a Lexus, now's my turn to wreck this
Brothers approach and half step, but ain't heard half of it yet
And I bet you're not a fucking vet
So, when you see me on the real, forming like Voltron
Remember I got deep like a Navy Seal
[Hook]
[Ol' Dirty Bastard]
Yo! I come with that ol' loco, style from my vocal
Couldn't peep it with a pair of bi-focals
I'm no joker, play me as a joker
Be on you like a house on fire, smoke ya
Crews be acting like they gangs, anyway
Be like, "Warriors, come out and play"
Burn me, I get into shit, I let it out like diarrhea
Got burnt once, but that was only gonorrhea
Dirty, I keep shit stains in my drawers
So I can get fizza-funky for you
Murder, taste the flame of the Wu-Tang, rah!
Here comes the Tiger vs. Crane
I'll be like wild with my style
Punk, you play me chump, you get jumped
Wu is coming through at a theatre near you
And get funk like a shoe
What?
Seize Mars, you need to find black friends. I have dozens, we laugh at posts like yours. Crackers and negros do co-exist despite what the media tells you.
yeah, dude...where you been? Don't you get it? geez...lighten up.
Wu-Tang Financial gotchya back, yo! ;-)
Edit: And to answer your questions...Everybody and everything are fair game man...that's just how it goes. That's just life, and those who have thin skin and who can't hack it just won't make it. Survival of the fittest isn't just physical...it's mental toughness too. And knowing and understanding that most shit is just good old humor with a truthful twist is the way the game is played. Deal with it.
'Dat what be makin' shit funny, yo...so don't be a bitch.
See how I did that? ;-)
Everybody and everything are fair game? Are you sure about that? So why did Zerohedge institute its (in)famous racial policy?
Why is it suddenly ok to mock urban blacks?
I have cherished friendships with black people. None of them talk in "ebonics," so none fit the racially demeaning nature of this article.
So tell me again, why is it ok to mock black people in this article?
Importantly, are all racial, ethnic and religious groups subject to this newfound openness of mockery and derision here on Zerohedge? I'd like a real answer from the fucking moderators.
read the lyrikz seize and maybe it'll make sense. or not. NOT RIP f_s LULZ!
TD 666
I believe your account will be seized in 3,2,1. Been nice knowing you. We don't need to be schooled on the freedom of speech and posting comedy in a financial information site
francis_sawyer was kilt by TD. let freedomz ring seize needs to play with dick and jane and that other rube.
My memory is faded on this fact. Wasn't Kilt driven out of GLP, then went to LOP and ended up shagging his penis on amkon? Is this the same guy? Haven't followed the gossip boards for a while. His name stands out.
edit: I remember because his/her avatar was a black & white kilt. Our kind never hides our colours. This should bring that motherfucker out of hiding.. Meane weil, speak weil and do weil. That mere phase will send a shiver down his/her spine. We don’t fuck around with charlatans. Check your history lesson.
Racism is making a comeback, big time. Racial and ethnic biases are always aggravated by economic collapse. Just read the news.
wow dude...if you want to get all serious and shit just refer to the 1st Amendment and then shut the fuck up.
Or...take your holyer than thow gripe and go preach it to Dave Chapelle...I'm sure he'll set your ass straight.
man...lighten the fuck up already, church lady. lol
Lighten up francis
Strange.... You must have read a different article?
May the Obamzo be with you!
Yeah. Pretty much.
Pleeee....nty of derision toward the jew here. I think we all can agree to disagree with their little tribe of money changers.
It is not o.k. to deride Skittle shitting unicorns, unless the FED chair is riding them...
...and Lloyd Blankfein, and Jamie Dimon, and Hank Paulson, and Jon Corzine, etc...
It is incomplete without a Snoop Dog narration, but use your imagination.
i believe the 2 groups that are okay to deride are the bigots and the idiots.
And the Dutch!
Yes, in fact, there are two groups that I can think of that not only should be derided but deserve derision: Democrats and Republicans. Does that help?
old white guys, baby boomers, Christians, capitalists, white trash and rich people.
and Germans - you can make them the villain in any movie, and they won't gripe because the were raised with inter-generational guilt.
Smokers and overweight folks are apparently totally fair game. The nannies will even encourage it.
On deck, are white males and christians, with Internal-Combustion-Engine-users in the batter's box.
cause Bary goin to drone you yo.
Don't drone me bro! lol
you can keep the drone if you like it
you didn't build that drone...somebody else built that drone for you...lol
Oh Janet I like it rawwwwww!
1. There is such a thing as a free lunch for bankers who create money from thin air. They purchase lunch with fiat they created after breakfast. It costs them nothing.
2. True. Bankers buy productive and valuable assests with fiat nothing that they created before lunch.
3. Sure, but price is not determined at the margin like they teach you in B-school. Price is determined by a couple of bankers who create money from nothing and run the specialists and maket makers.
4. People respond to incentives, but money is a poor incentive.
5. Trade can make everyone better off but generally does not because bankers get a cut of everything and determine price.
6. Markets are generally a good way to organiza economic activity, but unfortunately we don't have markets, we have monopolies.
7. Government cannot improve market outcomes because by definition when the government is involved we cease to have a market.
8. A country's standard of living actually has nothing to do with economics, money and consumerism. It has to do with the happiness of the people.
9. Prices rise when there is a free market and there is a lot of money chasing too few goods. Without a free market, prices rise when the banks raise the prices.
10. Society faces a lot of choices, but society does not run the economy or determine prices; self interested criminal bankers do.
That "employable at $7.24/hour" poster is kinda bullshit. He'd be even more employable at $1.24/hour but that doesn't mean it would be a good deal for him!
u missed da milton friedman reference son.
garypaul: I agree.
If you can't afford to pay that extra 1 cent per hour then you really need to reconsider the viability of your business.
Perhaps you could negotiate a 40 cent per week discount on your rent. "Oh, but we have a hundred workers." Okay, try for a $40 per week discount on your rent. What percent discount is that?
Depends on if it's 1953 or 2013.
I had read little when I stopped reading.
Excellent time management skills. You didn't miss anything.
Prices do not rise when the gov 'prints' more money. Look at China. Look here. McDoubles have been $.99 for like 10 years. It does not matter HOW MUCH the gov prints. Food/fuel and many other things have a max people are going to spend regardless of what is printed. Period. end of story.
So the price stays the same while the burgers get smaller and made out of horse meat. Inflation finds a way.
I did like the one about the college professor and the $600 for textbooks but a second poster where the professor believes that professors deserve to earn $250k minimum but teach their students to believe that no one in the private sector should be paid more than $100k.
C.R.E.A.M., Bitchez! http://www.youtube.com/watch?v=bjZRAvsZf1g
The Economic Principles Under the Thieving Banksters
1. The house of cards we build will fall on those whose backs were used to build it.
2. It is not a loan, it is use of your own money that you pay us a fee on.
3. Government is our shylock.
4. Heads we win, tails you pay
5. Good luck fighting us, our brethren are the judges.
6. What is yours is ours, what is ours was yours.
7. While we're bailed-out and bailed-in, you're the bucket.
8. We rob and get bonuses, you rob and get fed to the prison-industrial-complex that we control.
9. "Bartender? More wine in my glass."
10. We can 'return' with the spoils and leave you here with the carcass.
"'Following orders' and ignorance of the Constitution and is no excuse."
Finally, something on ZH Shawndraka Mack can sink her teeth into! (see McDonald's thread)