More Pseudo-Paradoxes: Supply and Demand, Experts
Supply and Demand bring equilibrium to he market.
For more pseudo-paradoxes, check out Fame/Fraud Matrix and [INSERT WOODY WOODPECKER LAUGH HERE], two ebooks full of dailyskew satire and thoughtful commentaries. Also, check out these previous DailySkew posts:
- Baloney. The economy is built on highs and lows -- there is no such thing as equilibrium.
- For example: not-too-long ago, SUVs were all the rage. They were expensive. Now, due to high fuel pices, SUVs are no longer selling. The prices have dropped considerably. The high prices of the past and the low current prices reflect the vagaries of demand, NOT equilibrium.
- Home prices -- same concept.
- Do not participate in the mob mentality. If everyone is purchasing something and it seems expensive, refrain from buying. It may take months or years, but you will eventually be rewarded. Even if the price never comes down, saving that money is reward enough.
Experts who explain what went wrong with the latest market crash/ banking crisis, etc.
- Prior to a crash, there are usually a few pundits who attempt to warn everyone of the impending financial danger. They are usually shouted down by the "Experts" who preach with religious fervor that everything is okay ... it better be, since they are probably invested in the part of the market that is about to crash.
- After the crash, the "Experts" step in and explain, point-by-point, what went wrong with a scholarly reverie. MEANWHILE, the few pundits who were right prior to the crash are drowned out AGAIN.
- So, the few pundits who get it right are ostracized prior to a market crash, and largely ignored afterwards.
***
For more pseudo-paradoxes, check out Fame/Fraud Matrix and [INSERT WOODY WOODPECKER LAUGH HERE], two ebooks full of dailyskew satire and thoughtful commentaries. Also, check out these previous DailySkew posts:
Labels: banking, economy, equilibrium, experts, market, pseudo-paradox, pundits
posted by Skew | Saturday, September 13, 2008
4 Comments:
BAGHDAD, Iraq (CNN) — Iraq has signed its first major oil deal with a foreign company since the fall of Saddam Hussein’s regime, a spokesman for the Iraqi Oil Ministry said Saturday.
It was the first time in more than 35 years that Iraq has allowed foreign oil companies to do business inside its borders.
The contract with the China National Petroleum Corporation could be worth up to $3 billion. It would allow the CNPC to develop an oil field in southern Iraq’s Wasit province for about 20 years, said Oil Ministry spokesman Assim Jihad.
"If everyone is purchasing something and it seems expensive, refrain from buying. It may take months or years, but you will eventually be rewarded. Even if the price never comes down, saving that money is reward enough."
100% true...the cold reality is eventually all items lose their value until they are practically worthless. (With some rare exceptions, of course.)
From DVDs (TV shows/movies eventually get streamed on free sites, put in the $5 dollar bin, or can be "rented" for $1), comic books (check out the 50 cent bin and look at the cover price of those 1990's comics), clothes (Salvation Army, folks), video games (every game from the 80's and 90's can be downloaded for free and played on your computer), cars (price drops as it is driven off the lot), new electronics (remember how expensive VCRs, walkmans, stereo systems, CD players, original cell phones, desktop computers were?), and much more.
Throw some bit-torrent/LimeWire/"trading"/used items/ebay/Amazon into the mix and and you can pretty much get thousands of dollars of things "for free" or at huge discounts.
There is no reason to buy new items at full retail, especially if you don't really "need" it.
[[ Experts who explain what went wrong with the latest market crash/ banking crisis, etc.]]
The problem is that it's a different set of pundits for each set. The self-appointed seer who get's lucky, should probably be ignored, and rightfully so. The radio-talk type, even more ignored, for the same reasons.
The first comment reveals an intentional pseudo-paradox of our Government's creating: A country conquers an oil-rich country , institutes a democracy, and ALLOWS a competitor to strike a deal with the new government.
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