SOCIAL MEDIA: Taking þe Temperature of Twitter: 2021-01-28 Th
Is this a useful thing to be doing? Twitter's aggregation tools are s---, by design. At least this way I will remember things I found notable...
Dangerous & Unpatriotic Republican Grifters Are a Serious National Menace:
Jonathan V. Last: This is what I wrote on 10-8-20: "Go write this down: After November 3, the price of admission to GOP politics is going to be an insistence that, actually, Donald Trump did win the election and/or would have won if it hadn’t been stolen/rigged."
Dave Troy: Hey guys, remember that time Steve Bannon ran an army of game virtual currency miners in Asia, for sale to westerners at discount prices, arbitraging attention for profit? That was awesome...
GameStop:
James Medlock: Always find the "you've never actually spoken to poor people" argument funny, like how are we measuring this? My dad lived in a trailer for a good part of my childhood, and did buy lotto tickets, but was not a retail stock trader because that's not something many poor people do
Jake George, Son of Henry (亨利，喬治之子): Next week we’re going to be seeing lots of stories of “average Joes” who lost lots of money in the mania. GME is a nationwide pump & dump right now and the boiler room is WSB subReddit. Winners: WSB finance bros, long hedge funds; losers: a few HF shorts, many randos holding bag
Josh Barro: A lot of takes about how the $GME trade is just a lark for lots of investors, they are having fun. Say the company is overvalued by $20 bn. When that comes back to earth, the losses accruing to investors will equal about nine months of the entire national loss on lotto games.
Matt O'Brien: This is just a pump-and-dump where you try to convince the victims that they shouldn’t feel bad about being victims
Josh Barro: A lot of takes about how the $GME trade is just a lark for lots of investors, they are having fun. Say the company is overvalued by $20 bn. When that comes back to earth, the losses accruing to investors will equal about nine months of the entire national loss on lotto games.
Julian Sanchez: Wait until Elon hears about an arcane financial tool called a “loan”. You borrow other people’s money and then, get this, you SPEND IT even though you have to give it back eventually.
Elon Musk: u can’t sell houses u don’t own u can’t sell cars u don’t own but u *can* sell stock u don’t own!? this is bs – shorting is a scam legal only for vestigial reasons
Skott with a K: Wait til he realizes he’s selling car futures on his website. Literally selling cars that don’t exist yet.
Matthew Yglesias: Yeah this is a fun story but it seems overwhelmingly likely to have a sad ending
Josh Barro: Retail investors have bought into a $20 billion bubble with GameStop. A lot of them are going to lose a lot of money. Why are people cheering this on like the little guy is sticking it to the man? https://businessinsider.com/the-gamestop-wallstreetbets-reddit-thing-isnt-funny-its-stupid-2021-1…
The Biden Administration
Matthew Segal: I am enjoying this new thing where a problem arises and then people ask what the President will do to fix it instead of asking what he did to cause it.
The New York Times: An Embarrassment to Journalism, & a Danger to Freedom Worldwide
Dr. Leah Stokes: Ease up on the editorials, @nytimes. We're kinda busy over here trying to save the planet with our new President.
Max Moran: There is so much to unpack in this paragraph. So much carefully chosen language to imply an untrue argument the writer clearly wishes they could make, while still technically being interpretable in an accurate way. It's low argumentation that's beneath the NYT Editorial Board.
Max Moran: Apparently the paper of record's Editorial Board thinks the president doing his literal job so much is bad optics
Sun: Reminder. They've always had terribly shitty takes. This puff piece was 11 days before the invasion of Poland.
