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15 Little Life Hacks

What’s bad for the economy can be good for you

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I love when people who studied economics think they know personal finance, because they’re usually completely wrong. What’s more, they “think” that because they can draw a demand curve, they understand how to invest and grow their money, which can be even more damaging than a Chico state graduate who knows he doesn’t know anything.

That’s why I found this exchange on Megan McArdle’s Atlantic Monthly blog so fascinating.


The first two comments are priceless:

Todd: “What’s so grim about it? As a consumer, I see a photo tour of an impending wave of massive discounts.”

Nelson: “That’s how I view the housing market.”

Exactly. What’s bad for the economy is often very good for consumers who are prepared.

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Related: “Dumb: Econ majors know personal finance

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  1. I was educated in the University of California system, but I find it pathetic that in order to make your point you had to disparage Chico grads.

  2. Ramit,

    Insulting graduates of Chico was not only unnecessary, but takes away from the point you’re making. I’m sure it was a good one…what was it again?


  3. When I saw that picture the first thought I had was.. “I hope those cars won’t have mechanical trouble after sitting around so long”…. Then my next thought was the same as yours.. “great discounts!”

  4. Sorry guys. Next time I’ll try to write a post that caters to everyone and offends absolutely no one. I’m sure people will be really eager to read that.

  5. too bad those “who are prepared” are in such small number they don’t really matter much for “the economy”. As my latin teach would say: “Una hirundo non facit ver”. [One Swallow does not make Summer – Horace].

  6. Whoa, that’s a lot of cars…

    And don’t be snarky, Ramit. You like to get people riled up, so why are you getting upset when they do? If you want to have intelligent and meaningful comments, then speak to people in an intelligent and non-condescending tone.

    I think you made a good point. But the paragraph where you insult people and tried to be funny — well that was just distracting and detracted from what you were trying to say. The comment didn’t offend me (I’m not American, so I didn’t understand it anyway), but I think it’s a rookie writing mistake. If you want people to take you seriously, stop making ignorant and arrogant comments. It detracts from your ethos.

  7. Okay, I realize my comment was very snarky 🙂 I do apologize.

    I don’t think this is the place for me anymore. Best wishes with your future endeavors.

  8. I was an Econ student who gets Personal Finance. Of course I’m technically an IT guy who gets Personal finance.

    Great deals are out there right now if you have the cash. I just wish this all had been put off for a few more years as I’ve only been out of college for less than two years (hardly enough time to save for a house after paying down student loans but I’m getting there.) There are great prices on houses, cars etc. even in the “country” where I am.

  9. Hmm..I too have seen great deals in almost every market sector. Taking advantage of a great deal can be very satisfying, but you know, those with money to spend shouldn’t be rushing out to buy things they don’t need just to get the deal. And on the housing front, buy what you need at the discounted price rather than spending what you would have spent 2 years ago and getting more with it. That is my outlook on these issues in general.

  10. Either you are going to see the sky falling and withdraw into your shell, or you will see tons of opportunity and be busy creating your economy during this time. The choice is up to you. Choose wisely!