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Re: Current Events Thread
It's pathetic, they are happy to allow short selling and let the hedge funds etc make a killing off of effectively creating a self fulfilling prophecy by driving down a companies share price. The collateral damage to the company and existing shareholders is completely ignored. But get a big enough collective of buyers to drive the price the other way thereby costing them money - look out!!!
Re: Current Events Thread
Its a trend but I don't think this is lasting or will become the new normal with stock buying. There's alot to investing, which I don't know a whole lot about, but earnings per share, returns etc. Some stable stocks, like Walmart, McDonalds, Apple & Google etc, anymore people buy knowing the company will pay back quarterly profits to its shareholders. Other companies, like Uber or some startup, people buy hoping it goes up over time. Buy it at $30 and hope it goes up to $300 etc
So its a balance. Problem is, now that Gamestop is is peaked, there's no upward momentum, and the quarterly payouts per share aren't much, since 1 share is overinflated at $400. So its paper & worthless at that price. Like buying a gold chain for $500 dollars, might only be worth $80 in gold but to the buyer they now believe its a $500 chain. Anyway, people will inevitably sell Gamestop, and few will buy it as its going down to $350, then few will buy at $300, then it'll crash rapidly down to $40. It might happen once or twice more with AMC or Best Buy or some other meme stock, but people will catch on if your not an 'early inflater' you'll just lose out.
It's pump & dump, all it is.
- monkeychow
- Rep: 661
Re: Current Events Thread
It was eye opening that they went as far as halting retail trades.
Then again when I think about it, I almost thing it's nieve to think you'll be able to fuck over the vested powers long term.
Whole situation reminds me of the gambler with marc wallberg.
The guy who bet $50k on options and made it into $40m.....yeah....that's "Fuck You" money. He needs to listen to John Goodman's speech in that film.
- Smoking Guns
- Rep: 330
Re: Current Events Thread
It's pathetic, they are happy to allow short selling and let the hedge funds etc make a killing off of effectively creating a self fulfilling prophecy by driving down a companies share price. The collateral damage to the company and existing shareholders is completely ignored. But get a big enough collective of buyers to drive the price the other way thereby costing them money - look out!!!
Exactly Aussie! Short selling should be illegal!
Re: Current Events Thread
Aussie wrote:It's pathetic, they are happy to allow short selling and let the hedge funds etc make a killing off of effectively creating a self fulfilling prophecy by driving down a companies share price. The collateral damage to the company and existing shareholders is completely ignored. But get a big enough collective of buyers to drive the price the other way thereby costing them money - look out!!!
Exactly Aussie! Short selling should be illegal!
Shorting is fine. Naked shorting is illegal and that is what happened here.
- Smoking Guns
- Rep: 330
Re: Current Events Thread
I can't stand this fucking idiot. I can't believe this was who they wanted after the Fox News airhead.
She's worse.
Remember the good old days when the press secretary wasn't an imbecile?
Take me back to Marlin Fitzwater or Dee Dee Myers.
- Smoking Guns
- Rep: 330
- Randall Flagg
- Rep: 139
Re: Current Events Thread
For four years, we were informed by our establishment media that President Donald Trump’s behavior was “not normal.” The abnormality of Mr. Trump’s behavior became a near rallying cry for the self-appointed heroes of journalism, who spent every waking hour poring over his bizarre tweets and his bloviating self-absorption. The media dedicated themselves to preventing Mr. Trump’s supposed normalization.
Now, the media inform us, we have been graced by the most-normal normal person to have ever normalled: President Joe Biden. Mr. Biden, they proclaim, is utterly boring, nondescript, barely worthy of coverage. His administration, too, is paradigmatically normal. Yascha Mounk of The Atlantic tweets, “It is so nice to have a boring President.” Alleged media watchdog Brian Stelter asked this week whether Mr. Biden is “making the news boring again,” adding, “The Biden White House is clearly a break from the chaos and incompetence of Trump world.”
For his part, Mr. Biden obviously revels in this sort of coverage. This week, his favorite ice cream flavor (chocolate chip) was tweeted out as well as a retweet of first lady Jill Biden’s announcement that Champ and Major, the new first pets, had entered the White House.
On a personal level, Mr. Biden is clearly more “normal” than Mr. Trump — although treating Mr. Biden, a career politician worth nearly $10 million, as the height of normality is rather stunning. The goal for the establishment media isn’t to point out merely that Mr. Biden is a sort of American Everyman. It’s to use that supposed normalcy to disguise the fact that his agenda is absolutely abnormal.
The dirty little secret of the Trump administration is that despite Mr. Trump’s personal abnormality, his agenda was well in line with past precedent, and with mainstream American opinions on everything from taxes to military policy. Mr. Trump did not radically shift American policy. Mr. Biden will.
Within the first five days of his presidency, he issued 30 executive orders, compared with four for Mr. Trump, five for Barack Obama and zero for George W. Bush. Those executive orders included endorsement of radical reinterpretation of American history; killing the Keystone XL pipeline, along with its attendant estimated 11,000 American jobs; forcing the military to allow troops to undergo gender reassignment surgery; and forcing federally funded institutions to allow biological men who identify as transgender to compete alongside biological women, among others. He is reportedly pursuing an immigration plan directed toward reopening America’s borders. He has staffed his Cabinet by intersectional box-checking.
Mr. Biden’s policy is indeed radical. But because Mr. Biden is presented as a normal person, we’re supposed to ignore all of that. We’re supposed to simply be grateful for the “return to normalcy” — complete with caving to the teachers unions that seek to keep schools closed indeterminately, reentering a long-dead deal with the Iranian theocracy, firing government staffers with whom he disagrees and lying openly about the vaccine distribution plan he inherited.
Meanwhile, our media pat themselves on the back. It’s rare to see a profession declare itself irrelevant, but that’s what many in the media are doing these days. According to Stelter, it’s “refreshing” that Mr. Biden’s team promises accountability and transparency. According to Margaret Sullivan of The Washington Post, the media must learn their lesson from the Trump era and cover Democrats more sycophantically.
Joe Biden may be a relatively normal guy. But none of this is normal. And pretending it is represents just another way for the media to reject legitimate criticisms of an administration seeking radicalism right off the bat.
Ben Shapiro is the editor emeritus of DailyWire.com. He wrote this for Creators Syndicate.
