Everything You Need To Know About Economics But… Actually There’s Nothing You Need To Know

I cheated on every economics exam. I was majoring in economics. But so was my girlfriend and she was smarter than me. So I cheated off of her tests.

But then it turned out she wasn’t so smart and we both failed.

My parents were so happy I wanted to major in economics. They thought this meant I would be good at business. “You will succeed at everything!” they promised me.

To be good at business you need to start with two things:

There’s no economics in there.

I switched majors to Computer Science.

This is a polite way of saying don’t listen to me.

A) WARREN BUFFETT IS A F***KING LIAR

Warren Buffett says the WORST thing is deflation. In other words, when prices get lower, he thinks, the world is over.

I have a saying, “there’s always a good reason and a real reason”.

Good Reason: if prices are lower, people will stop buying because they will wait until prices are even MORE low.

This leads to a death spiral until nobody buys anything ever again and the world, I guess, shuts down then. Puts up a “We’re Closed” sign.

That is stupid. If I’m hungry, I buy something to eat. If I need shelter, I rent an apartment. I don’t starve in the cold until prices get lower.

Some people argue prices have been inflating for 100 years.

This is BS also.

100 years ago, the first school for Dental Hygiene started. The Fones School of Dental Hygiene, in Connecticut.

Amount of bad smelling breath per dollar has gone down 99% since then. That’s deflation.

Try kissing a man or woman with bad breath. That’s more important to me than the dollar.

ALWAYS look for Warren Buffett’s real reason.

Real reason:

He doesn’t like prices to get lower because he has $50,000,000,000 invested in stocks and those stocks only make money for him when prices go higher.

That’s 1 good reason and 50 billion real reasons.

B) SUPPLY AND DEMAND IS BULLSHIT

Price is determined by situation.

If you want to buy a house and you look at two exact houses in the same area you would think they have the same price.