Ludacris Calls Katt Williams' 'Club Shay Shay' Jokes Laughable

Ludacris isn't salty over Katt Williams suggesting he's a puppet for the elite -- 'cause he's taking the remarks with a grain of salt ... noting comedians are supposed to make jokes!!!

The rapper checked in with "The Breakfast Club" on Monday ahead of his iHeartRadio Awards appearance, and he tackled Katt's "Club Shay Shay" digs head-on.

Remember, Katt took aim at Luda and his wife Eudoxie -- and in the moment, it wasn't clear if he was joking or not ... but Luda says he isn't trippin' either way.

Luda tells Charlamagne and DJ Envy that Katt's jokes were laughable and he recalled running into him at Rick Ross' house years back and there were no problems at the time ... so he decided he'd play along with a playful freestyle when Katt took a fresh shot.

Katt hasn't said much to Luda since ... he teased a diss song back in January but still hasn't released it.