No one understands economics, thats why were in the mess we are in.
Its like a bunch of crabs trying to get out of a bucket.
All you need to know about economics is the golden rule.
He who has the gold makes the rules.
collect gold.
The Economics Thread
by sabastious 63 Replies latest social current
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sabastious
Its like a bunch of crabs trying to get out of a bucket.
LOL!
-Sab
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james_woods
If any of the crabs got out of the bucket, they would represent a theoretical loss to the crab fishermen.
If the crab fishing voyage cost more than their catch sells for, it would represent an actual loss to the crab fishermen.
In Mark McCormick's book "things they don't teach you in Harvard Business School" he quotes a friend who was a self-made multi-millionaire.
He asked him how he got rich. They guy replied - "Well, I found a product that I could buy for $4 and sell for $6 - and I could buy and sell as many as I wanted. It is amazing how much money you can make on a 2% markup!"
So, maybe it isn't really all that mathematically complicated after all...
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talesin
That's actually a 50% markup of $2.00 ,,, oops!