/lit/ - Literature

[Anonymous No.16117972]

>/lit/s catalogue is usually filled with economic theory threads
>Apparently everyone here has read every economic book ever
>Neets on /biz/ take a shit on your discussions by posting Pepe's and making themselves a board of millionaires
Huh

[Anonymous No.16117981]

biz is an advertisement that just says get rich quick and so money hungry greedy goblins reside there, obviously this will contrast with the entire purpose or shareholder of a board that is called lit will have people that value learning over money

[Anonymous No.16117990]

>>16117972
Yeah everyone on the internet is a millionaire.
Can't stop the greatest economy of all time.

[Anonymous No.16117997]

>>16117981
Yeah, but it's stupid to assume that you can only have learning or money. You're either dumb or lying if you don't wish you could just become an instant millionaire, retire, and spend the rest of your life exactly how you want

[Anonymous No.16118059]

>>16117997
most people go to biz because they believe they can get rich quick. people go to lit because they often are already in yearning for learning and even then, for those people money comes after what they learned and is only an after thought but never a precursor

[Anonymous No.16118091]

>>16117972
studying economy =/= daytrading
if studying econ somehow unlocked the secrets of wealth, econ grads would have higher salaries.
besides econ is 90% pseudoscience anyways

[Anonymous No.16118121]

>>16117990
You just convinced me that black lives matter.

[Anonymous No.16118123]

>>16118091
>besides econ is 90% pseudoscience anyways
Imagine actually believing this.

[Anonymous No.16118177]

>>16118123
its just a bullshit field. theres a reason why economists are notoriously bad at predicting anything. or even understanding the present. even if you're trying to defend it, you have to admit its not very useful

[Anonymous No.16118185]

>>16118177
>>16118123

He's right. Especially econometrics

[Anonymous No.16118191]

>>16117997
I have no desire to become a millionaire, see no real need. I have worked hard and have saved up a good nest egg, bought some land and will be retired by 40. Already most of my expenses are work related, once I retire my expenses will pretty much be clothes and property tax. My land provides what I need and working on my home, in my garden, or being out foraging/fishing/hunting is exactly how I want to spend my life. Don't think I have even spent $1k yet this year. We do not all have your value system.

[Anonymous No.16118202]

>>16118191
My value system isn't to become a millionaire though, it's to not have to be a wageslave

[Anonymous No.16118215]

>>16118177
>>16118185
Econometrics usually tries to identify causal relationships, not predict. Prediction is a totally unrelated field.

[Anonymous No.16118220]

>>16118202
plenty of ways out of the wage slave life other than becoming a millionaire.

[Anonymous No.16118221]

>>16118215
yea, predictions field is gambling, not to be conflated with investments

[Anonymous No.16118229]

>>16118220
Sure, but who gives a shit. If I want to try and do it through trading, what's the big deal? I don't even need to be a millionaire, I was just illustrating a point. I've gotten closer to escaping wageslave through trading than any other way I possibly have access to

[Anonymous No.16118234]

Sup OP I got a response and it goes a little something like this

S U R V I V O R S H I P
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B I A S
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[Anonymous No.16118241]

>>16118177
>>16118185
Why is economics a "bullshit field"? Is meteorology a bullshit field because you cannot predict the weather long into the future, just like in economics you can't predict how a complex system will function sometime in the future?

[Anonymous No.16118254]

>>16118229
When did I ever say anything about trading? Just pointed out that not everyone desires wealth and one is not dumb or lying if they say otherwise. Why are you so defensive?

[Anonymous No.16118266]

Economic theory is an important field on a societal level, not in regards to day trading. Any books about day trading are complete bullshit (I do recommend reading a book on options strategies and the greeks if you make it that far into stonks). As for topics related to an individual: financial literacy, budgeting, and proper investing are important topics that any adult should learn--these things are not dictated by chaos magick, whereas day trading is.

[Anonymous No.16118268]

>>16118241
youre changing the goalposts. "long into the future" versus "in the future."
yeah meteorology would be kinda suspicious if, after all these years, they couldnt predict the weather an hour from now. thats where econ is at. cant predict anything. if meteorologists couldnt predict the weather an hour from now with any degree of accuracy, it would make me think they were all incompetent pseudoscientists.
economists cant predict a goddamn thing. after all these years and all this effort, they haven't made anything useful out of their studies. they dont even understand the present. they cant tell if we're in bubbles or built on fraud or whathaveyou. they never figure out anything. theyre always the last to know; they read the newspaper with the rest of us. its just a cult. grad students quantifying useless bullshit and arranging the numbers in different ways. "the relationship between interest rates on loaned cheese wheels and the opportunity cost of tibetan monks attending beauty schools."
we just hold economy to a lower standard than other sciences

[Anonymous No.16118278]

>>16118266
Wrong. It has zero relevance.

[Anonymous No.16118356]

>>16118268
But economics can predict the near future rather well, as well as the present. Look into nowcasting and binary regression models for dating recessions.
And that's rather well for a science that isn't primarily at all about predicting recessions or the market. Economical systems are not only chaotic – as in impossible to predict, even if we had the right model, which we don't! – but also acutely impacted by very subtle moves of a couple actors such as the Fed, world leaders, news aboiut terrorist attacks etc). To add to that, economics is much harder than meteorology because we usually get the data we would need only a few months or even years after what has happened. GDP is only calculated quarterly, comes with a large lag and is often revised inside a year. How could we even make very accurate predictions of the sort of "if – then" if we can't even in real time know what the context of "if" is, e.g. where we are at?

[Anonymous No.16118373]

>>16118356
>nowcasting

[Anonymous No.16118390]

LMAO /biz/ just went from green posting to pink posting a few minutes ago. niggas got YAM'D hard

[Anonymous No.16118392]

>>16118373
Nowcasting, e.g., the GDP is a majorly important thing because we usually know the GDP only with a lag. Being able to know with reasonable accuracy the current GDP based on high frequency financial data, for example (monthly, weekly or even daily) is a major advantage for economical modelling.

[Anonymous No.16118435]

>>16117972
If Biz had read a single book about economics they would not invest in cryptocurrency

[Anonymous No.16118449]

>>16118392
>line gud
go back

[Anonymous No.16118463]

>>16118449
So it's reddit to try to have a discussion here? Nice one

[Anonymous No.16118507]

>>16118435
Why? Crypto or something else just as volatile is the only way the average wagie has to make it.
>dude just invest in stocks for 50 years

[Anonymous No.16118748]

>>16118241
yes