OOH …Here’s One Thing
My Money Don’t Jiggle Jiggle
by Jim Johnsen,
Managing Director, Johnsen, Fretty & Company
Nothing earth shattering to deliver to my fans this week, other than the FED increased the target rate by 75 basis points (or as the slick traders on Wall Street say, “bips”) and the market not only yawned but liked it a little bit. A rate increase of this magnitude hasn’t happened since 1994 and its second page news?? Oh yea, I forgot, no one reads the newspaper any longer.
In any event, as I was saying, since I have nothing to say, I thought I would bring your attention to a funny piece of trivia that is also a reflection of the world we live in versus the world that existed 20 years ago. There is a wonder bread-white film maker by the name of Louis Theroux who coincidentally is the son of the famous author Paul Theroux (Saint Jack among others). In the year 2000, he traveled to New Orleans to try to make a documentary on this “new” form of music called rap. He became so intrigued by rap that while in the hotel shower in NOLA he thought he would give busta rhyme a try.
Here are the lyrics:
My money don’t jiggle, jiggle, it folds
I’d like to see you wiggle, wiggle, for sure
It makes me wanna dribble, dribble, you know
Riding in my Fiat
You really have to see it
Six feet two in a compact
No slack but luckily the seats go back
I’ve got a knack to relax, in my mind
Sipping some red, red wine
Shepherd’s Bush
My compact push
Notting Hill Gate
My Fiat skates
With a crate of Cabernet
But not today
Because I gotta drive
I wanna stay alive
Not ’cause it’s illicit
Do I have to get explicit?
As a matter of fact
I sip on the ‘gnac
With Big and Reece
200 diamonds in their piece
I’m trying to get mine
So I can shine
Jiggle, jiggle
I like to see you, wiggle, wiggle
Jiggle, jiggle
I like to see you, wiggle, wiggle
My money don’t jiggle, jiggle, it folds
I’d like to see you wiggle, wiggle, for sure
It makes me wanna dribble, dribble, you know
Riding in my Fiat
You really have to see it
Six feet two in a compact
No slack but luckily the seats go back
I’ve got a knack to relax, in my mind
Sipping some red, red wine
Think that went really well, don’t you?
I enjoyed it, nice being in the booth
So unless you have anything else, that’s a wrap
(Jiggle, jiggle)
(I like to see you, wiggle, wiggle)
(Jiggle, jiggle)
(I like to see you, wiggle, wiggle)
Louis Theroux, Duke & Jones
Jiggle, jiggle
And here is Jimmy Fallon with Shakira (looking fabulous btw) having fun with the song: https://youtu.be/FeG-hvnF5E8
Kind of catchy if you ask me, but he is no 50 Cent or Eminem.
Thanks for the levity Johnsen, but what’s the point? Well, there actually is a point in this schmaltz.
First, we are living in a different world. When he wrote this song in 2000…maybe 5 people knew about it. Now? The song has blown up around the world on Tik Tok. (See last link below). The ramifications of instantaneous world communication are massive…and just starting.
Second, when was the last time you paid for something with change? Remember buying an Orange Crush when you were a kid with some change (or maybe I am dating myself). So if change no longer has any value…how long will it be before a Hamilton has no value? See where I am going? Inflation over the long term happens whether we like it or not. It’s as sure as one hundred twenty degree days in Phoenix in the summer.
Thanks for the econ lesson Johnsen, but so what. Well what is…wait for it…if you leave your money under the mattress or in most commercial banks…YOU ARE LOSING MONEY. Let me say that again. YOU ARE LOSING MONEY. The only way to tread inflation water (or God forbid get ahead) is to buy and hold productive, slow (or no) depreciating assets. Real estate, stocks (bonds…eh), and ah yes, billboards. So if you are the guy or gal with a mattress full…get to work or lose it at your own peril.
And last but not least, since I have said nothing, if you want to read a very right side of the aisle view on inflation, recession, where interest rates are going and what’s wrong with the world, I would recommend you click through to this article. Biased? As they say in Chicago, Youbethca. Food for thought…yes it will shake the brain cells. Will some be offended? Youbetcha.
The Ross Rant July 28 (mailchi.mp)
More jiggle jiggle:
jfco.com
Securities transacted through StillPoint Capital Member firm FINRA/SiPC