Krugminator2
Member

I would vote for 100% of the Republican politicians on that list and contribute to their campaigns if AOC were an opponent of theirs and had a legitimate chance to win.

I also can't get over how MANY people think capitalism is failing and the US is awful and how capitalism exploits people and business owners are bad and the people who sit with their thumbs up their ass are the real heroes because they didn't have the lucky breaks some rich white guy which enabled him to exploit the poor unwashed masses.

I don't know if these people always existed and social media brings them out but I cannot believe how far left the left is. Yesterday standard journalists were decrying unpaid internships. And the whole white privilege and making them illegal was trotted out as a mainstream idea. When Texas had the power issues, a company Griddy which is cheaper 96% of the time because they price things at the market instead of hedging and making the consumers pay for the hedge had a sudden spike in prices because of the supply shock. I saw not one person outside of the person who came up with the idea of deregulation defend deregulation of Texas energy. It worked like it should have. Then I saw Jerry Jones' energy company was high fiving on their conference call because of energy prices spiking in Texas. Instead of being hailed as a hero for providing energy when there is shortage, he was universally derided and you have even "conservatives" like Ted Cruz arguing for price gouging price control laws.

I stopped out of both silver and soybeans. Will keep on the radar because think one day silver has a nice move left.

I don't see how this isn't obvious. Trump's businesses are hospitality related and many are based in New York City. The golf course revenue dropped to nothing during Covid. Hotel revenue plunged. And the properties in New York City got crushed because of people fleeing NYC https://www.forbes.com/sites/advisor/2020/10/23/manhattan-real-estate-fizzles-as-prices-demand-plummets/?sh=59178f46fbbc These conspiratorial threads about how Trump is making BILLIONS as a result of being president are factually untrue. https://nymag.com/intelligencer/2021/01/trump-organization-revenue-declined-40-percent-in-2020.html

Silver not looking so hot but still have it. Bought a bunch of soybeans today.

M2 grew at 5.8% from 2009 to 2020. Has grown 26% in the last year. This time is different. Inflation is now a real concern. 1364044709849612289

That number is revenue not income. Like him or hate him being President has likely done irreparable harm to Trump financially. It has not helped him. He is likely in serious trouble right now. It is beyond ridiculous. I imagine anyone who writes that Trump benefited financially from being president looks something like this.

I bought AGQ today. Will exit if it trades much below the low of the day. Don't love the trade because everyone else is looking at it but worth a try. One of these times likely to catch a nice trend in silver.

Agreed. The reason Reagan and Thatcher got elected was a backlash against left-wing policies and the pain of inflation. Probably the only advantage of a gold standard is it links spending and the consequences of spending more directly. People love free stuff. If there is no immediate consequence to these stimulus bills, people will push and push until there is a tidal wave.

Wall Street has never been more fair for the average trader than today. Brokerage costs are low. High frequency trading has dramatically reduced the costs for small traders. Twitter, free websites like Finviz and Yahoo Finance, and the SEC have democratized access to information. Wall Street isn't screwing the little guy. Wall Street allow participation in business and makes it so a person with a little starting capital the ability to make millions and it has never been easier. I couldn't even imagine how hard it was 30 years ago. No one is screwing you. https://mobile.twitter.com/markminervini/status/1362548855015890954

Capital requirements (and a few pollution rules) are pretty much the only regulation in any industry that makes sense. It is really hard for depositors to go bust with capital requirements. It is a very simple regulation that works. Lehman Brothers doesn't fail with adequate capital requirements. You can eliminate all the other BS rules that prevent start up firms just by focusing on capital requirements.

Yeah it's crazy town in some of these threads. All the ridiculous arguments used for censorship of tech companies and antitrust were literally the same arguments Ayn Rand was shooting down in 1963. America’s Persecuted Minority: Big Business https://courses.aynrand.org/works/americas-persecuted-minority-big-business/

The doubled the Department of Education was a talking point related to W. bush not Reagan. Foreign aid makes up zero percent of the budget. The Department of Energy oversees the nuclear arsenal. Worth noting Reagan the peace president negotiated the mutual disarmament of nukes with the Soviets that remains in effect today. He vetoed numerous spending bills and spending as a share of gdp was lower when he left office than when he took office.

Budgets originate in the House. The Dems had 100+ vote majorities in the House. https://history.house.gov/Institution/Party-Divisions/74-Present/ It is a popular talking point to shit on Reagan for spending but what should Reagan have done? Point a gun at their heads and start executing people until they voted to cut spending. He pushed a balanced budget amendment that got voted down. https://www.washingtonpost.com/archive/politics/1982/10/02/reagan-defeated-on-balanced-budget/3684bcc2-b328-4343-bc18-a4a88859a595/ https://www.washingtonpost.com/archive/politics/1981/04/10/in-blow-to-reagan-senate-unit-rejects-1982-budget-plan/25318b1a-6f30-46e3-b4b3-b1282af03a52/ Reagan vetoed numerous spending bills https://www.nytimes.com/1982/06/26/us/reagan-vetoes-2d-spending-bill-calling-it-excessive-by-1-billion.html https://www.latimes.com/archives/la-xpm-1985-11-16-mn-2748-story.html The reality is Reagan did a great job on spending relative to the circumstances. That is in contrast to Trump who had a Republican House and Senate majorities.

Larry Summers is great. He is the reason Bill Clinton was one of (if not the) best modern presidents on economic issues. He is left of center but he has always been a real economist. He understands how insane stimulus is right now. Unemployment is 6% and falling. Incomes are at all time highs. Consumer debt is at all time lows. Asset prices are at all time highs. The last thing the economy needs is stimulus.

You can't. It doesn't even make sense. It literally can't happen for a legitimate company that has a product and an actual business like Gamestop. The only thing it could potentially do is make it harder to raise capital if the stock price drops. If there were a theoretical world where you could short infinite shares and drive a stock to zero, the business would still not be bankrupt. It would have no iimmediate mpact on the company's balance sheet and its ability to service debt. He keeps talking about the hedge fund Melvin Capital. I can't find a research paper they published. I am pretty sure he is confusing them with Andrew Left at Citron Research, who is just an independent trader who makes his money short selling.

I never remotely implied GME is fraudulent. Here is a an example of a fraudulent company that went into bankruptcy because of research from a short seller. https://en.wikipedia.org/wiki/Sino-Forest_Corporation Note it is the research that drives a fraud into bankruptcy not the falling stock price. Companies are not their stock.

Number of non-fraudulent companies driven out of business in the history of the world by short sellers- ZERO. Why? We have a First Amendment in a America. They can say whatever they want. Shorts have very good reason to publish research. Shorting is often prohibitively expense. There are fees to borrow the stock. There are loan fees that can run the hundreds of percent annually. So publishing research that the market will recognize overvaluation can act as a catalyst for the stock to drop.

1. I was illustrating the absurd by being absurd. I don't care if stocks squeeze or stocks dump. People should be able to trade their money however they see fit. I view the world in principles not like a progressive where it is the little guy vs the big guy. 2 There were likely no illegal actions by anyone on any part of this 3. Companies don't go bankrupt from shorting. Companies are not their stock. How is it possible to not know this? 4. It has never been easier (and it isn't close) for the retail investor. If you are retail investor you have MAJOR built in advantages over institutions. The idea the little guy is screwed by Wall Street is wrong. Low commissions, tight spreads, free instant access to all relevant company information, low cost screeners, etc. You can get in and out of trades instantly instead of a few weeks for institutions. And the last year in particular has been tech bubble easy. Here is my message to you. Stop the made up nonsense. No one is conspiring against you. Money's out there laying on the ground. If you don't pick it up I have no sympathy for you. It will never be easier than it is right now.

Closed around 91. Everyone probably margined out so likely bounce

That's interesting. I would call driving up the price of a piece of shit company hanging on by a thread through a pump and dump fairly malicious. Since we disagree, it is best to let the market sort things out and let people make bets whichever way they want to fairly determine a price.

Short interest has gone from 140% to between 30% and 50%. Every spike is and opportunity to reshort. Back side of the move now. Show's over. No one is scared. Back below 100 over coming months with mini spikes along the way. Pattern happens all the time penny stock land. This is no different.