Economics 101 and “The Wire”

Call me late to the party but I just started watching Season 1 of HBO’s riveting crime series The Wire and am now understanding why it is one of the most beloved shows ever made.

One episode struck me as oddly, and amusingly, relevant as Stringer Bell is seen scolding some of his underlings in their “legit” print & copy shop.  When asked about order fulfillment issues his employees state that they didn’t care if the customer complained and Stringer promptly scolds them and explains how they have an “elastic product” – meaning there are plenty of competitors to their copy shop and they all have substitute products to which customers can easily switch if they are dissatisfied.

Stringer Bell Explaining to his minions about Demand Elasticity 

This is a great example of demand elasticity which my classmates and I just studied a few months ago in business school.  It’s always fun to have a real-world application of a subject which all too often remains theoretical and mysterious. There are some key lessons to take away from The Wire (aka: the original Khan Academy)

Link

Paying Off Credit Cards Is the Best Financial Return for Your Money

Great article on Lifehacker about prioritizing paying off your credit card debt as a personal finance mandate.

If you’re like me, who for some reason has been suckered with 20% APRs on his credit cards, then paying off your credit card debts is the best thing you can do to get back to saving $.  It’s kind of obvious as there is no benefit, other than avoiding paying one large lump sum for a purchase, for carrying a huge debt with an outrageous APR.  Consider it a short-term loan with an extremely high interest rate and you’ll quickly recognize its effect on your savings.

Five Best Desktop Video Players

Here’s a Lifehacker article on their opinion of the Five Best Desktop Video Players.

For the most part I’ve always avoided Windows Media Player and gone straight to VLC since it’s very lightweight and quick to start up lacking all the overhead of other media players. Plus Windows Media Player only works on the bulk of my video files (I primarily have .mkv files) after I install VLC, which adds the proper codecs.

I’ve used VLC on Mac and Windows and have had nothing but good results.

Volvo Trucks – The Epic Split feat. Van Damme

Video

Of all the things Volvo OR Jean Claude Van Damme have ever done this collaboration between the “maker of safe cars” and the “Muscles from Brussels” is THE best.

The camerawork, the voiceover, and the music are so hilarious and awesome at the same time.

Also, if you haven’t seen JCVD, Van Damme’s fiction movie where he plays a version of himself (experiencing all the professional pains of an aging action star) I would recommend it. He definitely shows his acting chops.

Here are a few minutes of the film and a pretty detailed review.

http://www.abc.net.au/atthemovies/txt/s2527158.htm