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Pretty sure all of economics is just using greek/roman letters to make the most basic and irrelevant equations seem smart.
actually this is true… my ex went to college for econ and i helped her study often…
i was a computer science major with a LOT of excessive math (although i do enjoy it).
The entire field of economics is a fraud…
the axis’s on their graphs are backwards, they have their own bullshit calculus for dummies, it’s all based on an idealized fake human called “homo economicus” that is perfectly and predictably motivated by money, and nothing else at all… it’s all such trash….
…
this equation is extra fraudulent though…I studied economics and well yeah it’s all true
I have a graduate diploma in economics and concur it’s mostly bullshit. The lecturers essentially agreed. Didn’t bother to continue to masters as I don’t think there’s anything more to learn from the field once you’ve confirmed that the world economy is based on lies and dice rolls.
I am so glad to see my internal monologue confirmed here on this anonymous forum.
Quality use of that meme, all I can say.
All the chat bots say this is how you balance it…
They absolutely asked chatbots, and I’d bet money at some stage someone said “make it look more complicated” and that was then made as a prompt to the AI…
Who made a simple mathmatic equation look complicated by adding shit that cancels out.
The people who actually used the numbers had no idea where they came from, or what it meant.
So they’re almost certainly learning today that it both was made by a chatbot, and that it’s just that simple.
Like, the people running this clown show literally and figuratively don’t know what they’re doing. They think real experts are giving them advise on this shit and it’s some boomer using chatgpt
To be fair to the chatbot…what else was the chatbot supposed to do? Not the ai fault he was speaking to a complete imbecile with extremely stupid prompts…
First, do what experts were saying and say this is stupid. But since they seemed primed for bullshit, the most obvious would be to take the explicit tariffs on US products, use any of a number of ways to calculate the impact of non-tariff barriers that actually make sense, and sum both of them. And then set the formula on fire because tariff wars are stupid.
what else was the chatbot supposed to do?
Huh?
The only way to make any mathematical calculation appear more complicated is by adding things that cancel out…
There’s zero other way to accomplish that.
That IS what I am saying, the chatbot did its job well…the reqyest was just the dumbest shit I have ever heard
The meme is referencing the official US Trade Representative’s explanation1 of the tariffs, where yes, the math really is as stupid as it seems, but it gets worse.
The research that Trump’s team used to determine that “calculation” flat out states that when the US tries to tariff other countries:
- American importers pay for the US tariff AND
- American exporters pay for the foreign retaliatory tariffs.
The source clearly demonstrates that American tariffs are paid directly by Americans in both directions, meaning out of everyone on Earth the tariffs screw the US the most. Trump’s administration legitimized the source by citing that research for its calculations on the tariff rates.
The explanation freely admits that the stupid parameters were chosen more or less arbitrarily, and they cited the paper (Cavallo et al 2021)2 but conveniently didn’t list it in their “References” section.
Our analyses indicate that the price incidence of US import tariffs falls largely on the United States… Our results suggest that retailers are absorbing a significant share of the increase in the cost of affected imports by earning lower profit margins on those goods… [These analyses reveal] that the recent tariffs applied by foreign governments on US exports have affected total foreign import prices far less than was the case for the recent US tariffs
Didn’t they also mark EU VAT as a tariff?
So you’re saying they named a recession after me? I can do better! I’ll give them the Donpression! It’ll be the greatest Donpression there ever was. It’ll be in the history books, folks. No Donpression will ever be greater!
You do realize that’s all of what he’s after, right? He wants to be remembered in such a way that no American will ever be able to forget him. He doesn’t care why he’s remembered, only that he is. We don’t remember the name of the pilot of the Enola Gay, but we remember the plane, Fat Man, Little Boy, Hiroshima, Nagasaki, and Truman. Recognition and memory, for him, is more important than context.
So the Fat Boy depression, got it. Can he go now?
And the Ebana Gay
Wasn’t it Tibbets?
Let’s not refer to trump instead to the fact Thomas Matthew Crooks missed.
It’s the Great Crooks Depression!
Then having done all the bullshit maths, they found out that Australia was a negative number because we buy more than we sell with the USA. But they slapped a 10% tariff on anyway because we don’t like their beef products because of a little issue of biosecurity.
They forgot to multiply the whole thing by -e^(i*pi)
No way… Is this real? LOL
Can someone please provide the context what epsilon and phi suppose to represent and why they are 4 and 1/4?
To calculate reciprocal tariffs, import and export data from the U.S. Census Bureau for 2024. Parameter values for ε and φ were selected. The price elasticity of import demand, ε, was set at 4.
Recent evidence suggests the elasticity is near 2 in the long run (Boehm et al., 2023), but estimates of the elasticity vary. To be conservative, studies that find higher elasticities near 3-4 (e.g., Broda and Weinstein 2006; Simonovska and Waugh 2014; Soderbery 2018) were drawn on. The elasticity of import prices with respect to tariffs, φ, is 0.25. The recent experience with U.S. tariffs on China has demonstrated that tariff passthrough to retail prices was low (Cavallo et al, 2021).
Ah but you see, 0.25 is only the inverse of 4 in base 10 … Checkmate atheists!
Thanks
The symbols represent smarts, and they are 4 and 1/4 because that mean multiply by 1.
It’s a made up formula to make trumpsters look smarter than they are.
A comment above provides context for what those symbols actually stand for economically. It’s not just made up (to the extent that economics is not made up).
I’m surprised that actually had someone with enough math skills to accomplish that.
Their pal gippidy
