One of the few silver linings of this deadly pandemic will hopefully be the final death of the myth that the stock market is, in any way, a barometer of national prosperity. The S&P 500 has been booming, even with over half a million COVID-19 deaths, alongside record unemployment and...
No one wants to hear about GameStop(gate) even if it’s not really a scandal or a flaw in capitalism. Slavoj “we must end capitalism but won't” Žižek on GameStop is like imposing a libidinal economy on Sudetenland when you take it over. Was the appeasement good for you too? There’s a market...
The best explanation of short selling (as it applies to GameStop) that I've read pic.twitter.com/o9ZL5HqsKf — John M. Cunningham (@jmcunning) January 28, 2021 1/2Short selling means borrowing shares and immediately selling them. When the price goes down, they buy them back for cents and return them to the lender. This...
Large hedge funds representative of fictitious capital aka “dumb money” got screwed by swarming reddit collective action. Numerous “redditors” caused a small scale version of (short) market chaos. WE GOT JON STEWART TO JOIN TWITTER He's right tho… https://t.co/iHedgMhKqg — WSB Mod (@wsbmod) January 29, 2021 UPDATE: It's definitely not a...
This really is not taking a position, but just recognition of what is going to happen tomorrow (maybe) and how this is going to impact market investments going forward. I am sure many of you have heard about the GameStop phenomenon, but it is not being that well explained in...
I know Trump doesn’t always consider optics when making his absurd decisions, but this looks like a huge pile of shite to me: x Thank you, @realDonaldTrump for appointing me to your task force on re-opening America safely in the wake of #COVID19. With 22 million Americans filing for unemployment,...
I encourage (or, rather, beg) you to read this indispensable Mark Sumner story about the absolute barking-mad lunacy of suggesting we should abandon social distancing in order to “save” the economy. (The gist? We’d destroy the country, basically.) Then come back and read this bonkers AF tweet from the grim reaper...
The GOP will make 1933 Fireside Chat claims for Trump’s Easter economy claims, but the reality was the bounce came from word of the Congressional stimulus package moving toward agreement. x Pelosi on call w/Dem caucus: “We're in the red zone” and hopes House can pass coronavirus package by quick...
The redoubtable Gabriel Sherman has yet another dispatch from the D.C. extension of the Trump Clown School. This time, it appears that Grampa Rage Diapers is peeved at his son-in-law, who insinuated himself into the White House CoronaShitShow last week and made a right mess of things. Vanity Fair: “In...
This was Donald Trump on Saturday, pumping up a stock market that’s dropping faster than Americans’ jaws every time his poor man’s Mayor McCheese head shows up on their teevee screens: https://twitter.com/realDonaldTrump/status/1238799084263260161?ref_src=twsrc%5Etfw That tweet came following the market action on Friday, when the Dow soared 1,985 points. Well, after a weekend during...
First of all, you’d have to have a head full of sawdust to buy into this market right now. Secondly, the only reason the stock market rose by nearly 2,000 points yesterday is that it fell by more the previous day after getting pummeled half to death all week. In...
This is really something. Most soap opera stars would think this is over the top: x You gotta watch this, I mean……..you just gotta watch pic.twitter.com/x2ZsayVrmv— Andrew Lawrence (@ndrew_lawrence) March 10, 2020 < p class=”is-empty-p”> TRISH REGAN, Fox Business: “The chorus of hate being leveled at the president is nearing...
The redoubtable Gabe Sherman has another inside look at the paltry, ping-ponging passel of brain cells flitting about our pr*sident’s capacious kopf. Inside sources tell Sherman that Trump is becoming increasingly paranoid over coronavirus — simultaneously worrying that the media are hyping the virus to make him look bad and fretting that...
http://www.msn.com/… The US Federal Reserve cut the prime interest rate this morning by 0.5% in an attempt to ward off a recession and market crash due to coronavirus disruptions of the world economy. The Fed lowered its key federal fund rates by half a percentage point to a range of 1%...
http://www.msn.com/… The US Federal Reserve cut the prime interest rate this morning by 0.5% in an attempt to ward off a recession and market crash due to coronavirus disruptions of the world economy. The Fed lowered its key federal fund rates by half a percentage point to a range of 1%...
Wait, you mean HE WHO CANNOT BE NAMED?!?!?!?!? We’ve now reached Beyond Parody 2.0, folks. Or maybe Irony Is Dead Cubed. x Mulvaney says the press ought to be covering Trump’s relationship with his teenage son more. One of the few things that is agreed upon about the press corps...
Donny Trump has come unstuck in time … (Second tweet): x Trump again absurdly blames a stock market slide that mostly happened Monday on a Democratic debate that took place Tuesday night pic.twitter.com/TtRcU9moLZ— Aaron Rupar (@atrupar) February 27, 2020 < p class=”is-empty-p”> REPORTER: You mentioned the stock market earlier, to...
You might also want to put on your fanciest snake-handlin’ pants, because the guy who doesn’t believe in natural selection (i.e., the mechanism behind the mutation of viruses and bacteria) is now in charge of our country’s response to the global COVID-19 outbreak. Yay! The Washington Post: Trump announced at a news...
How so tried are we of the crap coming from the Orange Emperor IMPOTUS. As the House voted on articles of impeachment against President Trump this week, US stocks climbed despite the President’s warning that “they would crash.” x If they actually did this the markets would crash. Do you think it...
I’m not a big Donny Deutsch fan or anything. For one thing, in his latest rant, he makes the mistake of suggesting that Trump is actually good for the economy, when he’s anything but. (Do any of these fools understand that job growth has actually slowed considerably under Trump?) But...
Remember about a month and a half ago when Donald Trump claimed China had called his top negotiators and a trade deal was on its way? I remember thinking you’d have to have less than 2 pints of creamy brain pâté inside your cranium to actually wager your money based...
If you believe that Individual-1 has altruistically helped the US stock market since inauguration, you might believe we Democrats worship Moloch, just like we treat the free market like Baal or so many pagan idols. Fox News should be ashamed of itself for firing Todd Starnes, since he only has borne false witness...
Well, it’s weak compared to the stock market returns under the Kenyan socialist America-hating usurper Barack Obama, anyway. Lots of caveats go with this, of course. The stock market is a pretty poor metric of real economic prosperity, as most of its gains go to the already wealthy — and millions...
So this happened today: Given the volatility in the stock market of late, today’s 300-point pratfall isn’t all that noteworthy. But what’s a bit more concerning is the likely reason. While investor jitters over Donald Trump’s inane economic policies have made the market vacillate over the past year like a Home Depot...
In the wake of media reports that China imported exactly zero U.S. soybeans in November (down from 4.7 million tons in November 2017) because of Donald Trump’s regrettable trade war — and following yesterday’s Trump-induced stock market plunge — Asian stocks took a tumble today. Seems Trump’s Christmas gift to the...
For most of his presidency — when it came to the economy, at least — Donald Trump was like a toddler sitting in one of those car seats with a fake Fisher Price steering wheel that made him think he was driving. Now he’s like a rabid Ebola monkey set loose in the cockpit of a commercial...
Trump promised a red wave this year, and it looks like he got it. Rivers of red ink are flooding Wall Street. The Dow closed at 22,445.37 today, ending a terrible week, month, and year for stocks — and, frankly, it’s hard to see a bottom. Unless you’re talking about...
It’s important to remember that the stock market is not the economy. That said, for two straight years Donald Trump suggested that all he has to do is wave his magic mushroom and the Dow and other stock indices will dutifully respond with record-breaking results. But ever since Tariff Man —...
Early this morning, Donald Trump tweeted some homespun wisdom: The negotiations with China have already started. Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina. Bob Lighthizer will be working closely with Steve Mnuchin, Larry Kudlow, Wilbur...
