Folding Sheets

A couple questions I have been pondering...warning, they are pretty deep. What is the point of folding sheets? More importantly how do you fold a fitted sheet? I hate those things. You need the wingspan of a giant to be able to do it. Then you have to deal with those elastic fangly ends that don't lay flat no matter what you do. This is how my typical folding escapade goes. I start with the pillow cases, they are simple and small and I think I can fold a mean pillow case. Then I move on to the top sheet (I don't know what the correct term is for these), other than needing another 3' on either arm they aren't to difficult. About the time I am half way done with the top sheet I am already eyeing the fitted sheet and remembering my past experiences with them...never good memories. I pick it up already feeling defeated, grap some corners...I should say grab were there should be corners, stupid elastic makes them weird shaped. I then start folding like I know what I am doing and then just end up wadding it up into a similar size as the top sheet. The only thing is that it is a big mess that is nowhere near flat so I step on it, beat it, and anything else I can do to make it look "nicely folded". I guess they are necessary but I definately don't understand them.