memorandum is written not to inform the reader, but to protect the writer.

A pat on the back is only a few inches from a kick in the pants.

A pipe gives a wise man time to think and a fool something to put in his mouth.

A penny saved has not been spent.

A penny saved is an economic breakthrough.

A penny saved is ridiculous.

A problem cannot be solved using the same level of thinking that created it. (In other words, if you screw it up, you can’t fix it.)

A real person has two reasons for doing anything…a good reason and the real reason.

A short cut is the longest distance between two points.

A short line outside a building becomes a long line inside.

Top reasons to study Economics

1. Economists are armed and dangerous: “Watch out for our invisible hands.”

2. Economists can supply it on demand.

3. You can talk about money without every having to make any.

4. Mick Jagger and Arnold Schwarzenegger both studied economics and look how they turned out.

5. When you are in the unemployment line, at least you will know why you are there.

6. If you rearrange the letters in “ECONOMICS”, you get “COMIC NOSE”.

7. Although ethics teaches that virtue is its own reward, in economics we get taught that reward is its own virtue.

8. When you get drunk, you can tell everyone that you are just researching the law of diminishing marginal utility.

9. When you call 1-900-LUV-ECON and get Kandi Keynes, you will have something to talk about.

A grade school teacher was asking students what their parents did for a living. “Tim, you be first. What does your mother do all day?”

Tim stood up and proudly said, “She’s a doctor.”

“That’s wonderful. How about you, Amy?”

Amy shyly stood up, scuffed her feet and said, “My father is a mailman.”

“Thank you, Amy” said the teacher. “What does your parent do, Billy?”

Billy proudly stood up and announced,

“Nothing. He’s an economist.”

Two policemen are considering the problem of catching the bandit. One of them starts to calculate the optimal mixed strategy for the chase. The other policeman protests.

‘While we’re doodling,’ he points out, ‘he is making his getaway.’

‘Relax,’ says the game-theorist policeman. ‘He’s got to figure it out too, don’t he?’”

Economics is ruining your life when…

- I tried to calculate my 3 year old son’s discount rate by seeing how many sweets he would require to be promised to him after dinner to be equivalent to one sweet before dinner

- I spent one hour in a toy shop making up over 20 bundles of toys that could be purchased for $25 and then asked my son to select one of these bundles

A party of economists was climbing in the Alps . After several hours they became hopelessly lost. One of them studied the map for some time, turning it up and down, sighting on distant landmarks, consulting his compass, and finally the sun.

Finally he said, ‘ OK see that big mountain over there?’

‘Yes’, answered the others eagerly.

‘Well, according to the map, we’re standing on top of it.’

Three friars were behind on their belfry payments, so they opened a small florist shop to raise funds. Since everyone liked to buy flowers from the men of God, the rival florist across town thought the competition was He asked the good fathers to close down, but they would not. He went back and begged the friars to close down, but they would not. He asked his mother to go and ask the friars to get out of the business. They would not.

So, the rival florist hired Hugh McTaggart, the roughest and most vicious thug in town to persuade them to close. Hugh beat up the friars and trashed their store, saying he’d be back if they didn’t close their business. Terrified, they did so - thereby proving that:

Hugh, and only Hugh can prevent florist friars.

Definition: A manager is a person who thinks that nine women can produce a child in one month.

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Robots: Our Steel Collar Workers.

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Q: What’s the difference between Xerox and the Titanic?

A: The Titanic had a band.

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Q: What does Santa call his wife at tax time?

A: A dependent Claus.

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Q: What do you call a credit union volunteer in a room full of bank directors?

A: A superior being.

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Q: What is the difference between big foot and a socially responsible banker?

A: Big foot has been sighted.

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Q: Why did the bank drive-up window teller have tire tread marks across the back of his grey suit?

A: From crawling across the street when the sign said: “Don’t Walk.”

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Q: How do you confuse a bank teller?

A: Give him a bag of M&M’s and tell him to alphabetize them.

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Q: Why is a BMW a banker’s favorite car?

A: Because he can’t spell Porsche.

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Anti-trust laws should be approached with exactly that attitude

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If bankers can count, how come the average bank has 10 windows and only four tellers?

A young man asked an old rich man how he made his money.

The old guy fingered his worsted wool vest and said, “Well, son, it was 1932. The depth of the Great Depression. I was down to my last nickel.

“I invested that nickel in an apple. I spent the entire day polishing the apple and, at the end of the day, I sold the apple for ten cents.

“The next morning, I invested those ten cents in two apples. I spent the entire day polishing them and sold them at 5:00 pm for 20 cents. I continued this system for a month, by the end of which I’d accumulated a fortune of $1.37.”

“And that’s how you built an empire?” the boy asked.

“Heavens, no!” the man replied. “Then my wife’s father died and left us two million dollars.”

Dear Sir,

I am writing in response to your request for additional information for block number 3 of the accident reporting form. I put “poor planning” as the cause of my accident. You said in your letter that I should explain more fully and I trust the following detail will be sufficient.

I am an amateur radio operator and on the day of the accident, I was working alone on the top section of my new 80 foot tower. When I had completed my work, I discovered that I had, over the course of several trips up the tower, brought up about 300 pounds of tools and spare hardware. Rather than carry the now un-needed tools and material down by hand, I decided to lower the items down in a small barrel by using a pulley, which fortunately was attached to the gin pole at the top of the tower.

Securing the rope at ground level, I went to the top of the tower and loaded the tools and material into the barrel. Then I went back to the ground and untied the rope, holding it tightly to insure a slow decent of the 300 pounds of tools. You will note in block number 11 of the accident reporting form, that I weigh only 155 pounds.

Due to my surprise of being jerked off the ground so suddenly, I lost my presence of mind and forgot to let go of the rope. Needless to say, I proceeded at a rather rapid rate of speed up the side of the tower. In the vicinity of the 40 foot level, I met the barrel coming down. This explains my fractured skull and broken collarbone.

Slowed only slightly, I continued my rapid ascent, not stopping until the fingers of my right hand were two knuckles deep into the pulley. Fortunately, by this time, I had regained my presence of mind and was able to hold onto the rope in spite of my pain.

At approximately the same time, however, the barrel of tools hit the ground and the bottom fell out of the barrel. Devoid of the weight of the tools, the barrel now weighed approximately 20 pounds. I refer you again to my weight in block number 11. As you might imagine, I began a rapid descent down the side of the tower.

In the vicinity of the 40 foot level, I met the barrel coming up. This accounts for the two fractured ankles and the lacerations of my legs and lower body. The encounter with the barrel slowed me enough to lessen my injuries when I fell onto the pile of tools and fortunately, only three vertebrae were cracked.

I am sorry to report, however, that as I lay there on the tools, in pain, unable to stand and watching the empty barrel 80 feet above me… I again lost my presence of mind. I let go of the rope.