Short Squeeze For Dummies

 https://www.kiplinger.com/investing/602165/what-exactly-is-a-short-squeeze

I've always been a dummy investor, so the whole Gamestop deal was a mystery -- especially since I no longer follow the MSM, it had to show up on Power Line before I cared enough to look. 

The Spectator has a somewhat interesting column on more of the psychology and real world human effects. 

There is a lot of sadness about our tragic money obsessed culture in the link -- the profanity is just the beginning: 

And boy has it worked. The user who first pitched GameStop on Reddit is called DeepFuckingValue. His original investment of $50,000 is now worth $50 million. This weekend he celebrated his gains in a video by dipping chicken tenderloins in a glass of Champagne. He still hasn’t sold.

For the congenitally stupid like me, the Kiplinger link covers it well -- I DID know "selling short" is betting the stock goes down, I just had a VERY foggy idea of what the mechanism was. 

Short selling – or shorting – is placing a bet that a stock declines in value. To do this, you borrow shares from another investor and then sell them. (Your broker does this for you behind the scenes.)

But remember: Those shares aren't yours to sell. You borrowed them. This means you are obligated to buy the shares back so you can to return them to the original owner.

There is an old saying attributed to Daniel Drew, a legendary speculator of the late 1800s:

"He who sells what isn't his'n, must buy it back or go to pris'n."

They don't send bankrupt short sellers to prison anymore, but the obligation to buy the shares back is very real. And this is where short squeezes come into play.

In the physical world, it would be like you borrowed 100 rounds of ammo from your friend when you went to the range, because you thought you were a little "short". Assume ammo was going for .10 a round  (so $10 for the 100). A guy at the range was buying ammo at .10 a round (he didn't bring enough) and you decided you were done shooting, and sold him what you borrowed ... so now you have $10, and no ammo. 

Unfortunately, you forgot to get more ammo, and now you are out. So when your friend asks for the ammo back, you find that ammo has gone up to $10 a round (where it is today BTW if you can get it) ... so you have to pay $100 for it, and therefore lost $90. 

The market (broker) doesn't trust you like your friend, so you have to "cover" as the price of the stock rises ... and keep covering as the price goes up -- and it can go up A LOT, theoretically infinitely. If you can't cover, you MUST actually buy the stock and give it back, thus making the stock rise in "value".  (the scare quotes are because the underlying real world value of the stock (the earnings of the company and sale price of its assets) are often way less than the stock price. In markets, "value" is whatever people are either willing -- or forced to pay if they can't cover the margin call. 

So short selling is very risky ... your potential gain is limited, your potential loss is unlimited. 

Naturally, on the chance you buy the actual stock at $10 (ammo at .10 a round) and it gets into a "squeeze" (like say Biden gets elected and he bans ammo sales), and stock (ammo) goes up to $1,000, AND YOU SELL IT, you made $990. (often, the other problem is that you are greedy, don't sell in time, so just lose your $10) 

... and now you know why I have a stockpile of ammo.  

Things like the Gamestop squeeze add to to the uncertainty of markets -- people have to sell assets they otherwise would like to keep in order to cover the margin -- other stocks, or maybe gold, thus causing their values to drop -- at least temporarily. 

So I think I understand it now -- always dangerous! 

Aussies Curious What Has Happened To Wokeistan Under Biden

 https://www.powerlineblog.com/archives/2021/01/the-weirdness-of-bidens-inauguration-and-more.php

This video is stolen from the Power Line blog. It is well worth watching. 

The points? 

-- Washington was a ghost town for the Biden "inauguration" except for thousands of National Guard troops ... who are still there, and will be until "March". Very little reporting in the MSM, and no "concern". Can anyone even imagine the outcry if Trump taken similar action in the face of the massive riots and marches as he took office? 

-- Biden issued more executive orders in his first week than any previous president. Even left leaning PolitiLie agrees -- although they put as good a spin on it as they weakly can. Every executive order Trump issued was "tyranny" by comparison -- although the left has now outlawed such comparisons as "WhatAboutism". 

-- Insiders in the WH are already leaking about Biden's mental health. Naturally, the MSM is not generally reporting it -- really. why should they? Anyone with eyes knows it already. 

A Time To Build, Yuval Levin

https://www.nationalreview.com/2020/01/book-review-a-time-to-build-decline-congress-other-institutions-american-life/ 

The link takes you to another review of the book. 

"Forms vs Platforms" is the essential theme of the book. 

The military is certainly about forming, as Mona included in her review; “If you hear that someone attended Harvard,” Levin offered at an American Enterprise Institute forum, “you may conclude that he or she is smart. But if you hear that they attended the Naval Academy, you’ll probably conclude that this is a serious person.” I'd suggest "Fortitude" if you don't understand that distinction.  

Sadly however, the Harvard graduate is only "smart" in a narrow, very specific set of "excellency in perfectly punching the ticket" way.  They met a very specific set of criteria -- and NOT going outside of that box (lest they be "cancelled")! "Common Sense" is certainly not even related to that ticket -- the "winners" usually end up being "Excellent Sheep". 

Levin has a good section on "beyond meritocracy" that describes how we got into a set of elites that are all about performance without depth, and often arrogant, isolated, and fragile. 

The family is the ultimate most universal "form" as we all know (and have experienced), and is described in the book, it is terrible shape in our time. Levin doesn't really face how to beat that problem -- nor does he tell us how. He hints at it on page 202, when he talks about "devotion" ... devotion to work, devotion to our organization ("institution"). "It calls on us to pledge ourselves to an institution we belong to unabashedly". 

Can this be possible without religion? Pretty much all of my study of culture gives a sad and wistful, but assumed to be impossible wish for a return to faith -- in the West, generally Christian faith. The assumption is that this is impossible "because of Darwin". Perhaps, impossible for man, bout with God, all things are possible! 

Since Levin has largely written off religion -- although he does mention that there is a SMALL hopeful movement to more religious orthodoxy (Amy Coney Barrett would be an example) he largely just lists some possibilities for reform of institutions. Educational, political, civic, etc. 

My view, documented in MANY blog posts is that "the institution(s)" must be very close to "God, family, community, country" in that order. 

On page 194, he puts his finger on THE problem -- a conflict of worldviews. The progressive worldview assumes a human as fully formed, requiring only to be liberated from oppression to be free. Man is viewed as "basically good, noble, etc" ... Rousseau was one of the founders of this view. "Moral Believing Animals" covers the "we are all stuck in our own box" problem very we.ll. 

The alternate view, best expressed by Christianity, views man as fallen, requiring redemption and the Holy Spirit to reach his potential -- grounded in a supporting family, church, community and nation. It sees man as "clay" to be moulded by these institutions, and in the process of moulding, to be part of larger institutions --  a university, a profession, a "party", service organizations, etc. 

Yuval is not so specific as to use Christianity as an example of what is needed, but I see it as an excellent model -- naturally, as well documented in the book, also largely in tatters today. 

So if you pull out the foundation of God, can you build on "SOME truths we hold be self evident"? I don't see how, given the fact that there are two models that are in extreme conflict. The left, with man as god, basically good, and able to build "heaven on earth" on his own, and the right, with man as fallen, requiring the help of God to move to a better, though far short of "heaven on earth" existence" in this mortal coil. 

My study shows many thinkers seeing the problem of what we have wrought with the "man is god" movement in the last couple centuries. Most see us as at a crossroads, where the choices are a return to God as God, or a totalitarian state where man (the government) is god. 

Do we even have that choice, or is it God's?  

The Meaning Of Equity

 https://www.powerlineblog.com/archives/2021/01/deep-meaning-of-equity.php

Definitely worth following the link, and for the video oriented, viewing the embedded video there. 

The very short answer is "equity" is shorthand for "equality of outcome", or even more accurately "social justice" as defined by critical race theorist Ibram X. Kendi. If you have any questions, you are a racist, and if you even want to be silent on the issue, remember, "Silence Is Violence", you MUST celebrate whatever Susan Rice tells you on the topic! 

“Equity” is not equality (i.e., equal rights). It is a substitute for equal rights. “Equity” requires the authorities to determine who gets what according to the race, the ethnicity, or other status of the beneficiaries. It is updated Marxist claptrap in which race replace class.

Ie, "Identity Politics".  

Rand Paul Stands Up

 https://www.powerlineblog.com/archives/2021/01/voter-fraud-nothing-to-see-here.php

A good little clip to watch in the PL link. Stephanopoulos is certain that voter fraud was not a factor in 2020. I wonder if he was as certain that Russia did not interfere with the 2016 election. 

Rand appears to have a backbone. 

Bezos, Amazon Oppose Mail-in Voting

https://beingbeliefbehavior.blogspot.com/2021/01/behold-biden-all-things-have-become-new.html

The link takes to to the Seattle Times, the only "mainstream" source I could find reporting this ... albeit in a rather "coded" way.  

The important quote is: 

Jeff Bezos — a strong Democratic supporter — and Amazon are aiming to postpone a unionization vote at one of its warehouses in Alabama, the Wall Street Journal reports. Interestingly, Amazon has requested that the National Labor Relations Board reconsider allowing mail-in voting, claiming that the mail-in voting process has “serious and systemic flaws.”

For which you have to go to "right wing" sources like this. 

One reason we are divided is because of what is NOT reported -- if you only listen to the MSM, you never hear this. You believe that "all reasonable people accept mail in voting is safe and secure". Counter claims are "without evidence". 

Certainly none of the "elite" would think it has "serious and systematic flaws"! 

One would have to be some sort of deplorable Trumpist to think that!!! 

Behold Biden, All Things Have Become New!

 https://www.nytimes.com/2021/01/23/us/biden-catholic-christian.html

Biden's liberal "christianity"? Well, no, what is happening is faith in "the thing". 

Here we have a bit of detail in what sort of thing this faith is in: 

When it was time for the homily, the Rev. Kevin F. O’Brien, the president of Santa Clara University and friend of the Biden family, compared Mr. Biden’s upcoming inaugural message to the words of Jesus.

“Your public service is animated by the same conviction,” he said, “to help and protect people and to advance justice and reconciliation, especially for those who are too often looked over and left behind.”

“This is your noble commission,” he said. “This is the divine summons for all of us.”

The actual Christian commission is found in Matt 28:

19 Go ye therefore, and teach all nations, baptizing them in the name of the Father, and of the Son, and of the Holy Ghost:

20 Teaching them to observe all things whatsoever I have commanded you: and, lo, I am with you always, even unto the end of the world. Amen.

The article makes it clear that while there is a lot of "liberalism" in this faith,  it is "Christian" in name only. Like the rest of our "culture", whatever "it" is, it is not culture, and certainly not "Christian".  We live in an age of fake religion, fake culture, and fake virtue. What we have is increasingly real Fascism. 

Practicing Christians that know Christ died on the cross to redeem us from eternal damnation, not to foster new social programs that attempt to make the government "God". He told his followers to feed the poor and other good deeds -- not to puff your chest because you voted to outsource your "good deeds" to the government. 

There is still nothing new under the sun. "For God knows that when you eat from it your eyes will be opened, and you will be like God, knowing good and evil." Indeed ... and sadly in this world, mostly evil. 

Reading the article shows just how far we have fallen from that tree.

President Biden, perhaps the most religiously observant commander in chief in half a century, speaks of how his Catholic faith grounds his life and his policies.

He may be "religious" and to some degree, even "Catholic" (to the extent that church abandons life, marriage, sexual morality, etc), but he is in no way Christian, unless he repents!  

 

The Prince of Darkness

 https://www.nytimes.com/2007/08/19/books/review/Shafer-t-2.html

Naturally, the NYT review is biased, though it does give a "liberal that don't know they are liberal" view of the book. 

A better short description of the book is "The story of a conservative reporters journey from being a moderate liberal the manner of Scoop Jackson to being a moderate conservative in the manner of Ronald Reagan". 

It is a "nice", though hard hitting remembrance of the times from the 1950's to the Obamanation end of America. It gives a view of American culture and daily life from the perspective of an actual journalist that knows he is biased, and has a decent handle on his biases. 

It covers more detail than necessary (understandable given his "involvement") on the "Plame Affair" ... Joe Wilson went to Niger because his wife, CIA employee Valerie Plame,  recommended him. Wilson brought back a non-committal report on Saddam attempting to get yellowcake (for nuclear purposes). Richard Armitage told Novack about it -- which he reported, including his wife's name -- wich was listed in "Who's Who In America" as Wilson's wife (so not a "secret"). 

The media, the Democrats and the Deep State (but I repeat myself) used this to claim that the "leaker" was Dick Cheney, possibly directed by Bush to "get back" at Wilson for his "report" that Saddam did not deal with Niger. 

Like much of our Fake News today, it was a totally a manufactured "scandal" -- a likely case is that it was manufactured by the CIA and blown out of all proportion by the media and the Democrats, but given what we know now about the media/deep state/Democrat effective singularity, it matters not. With the advantage of hindsight, we can see it was all fake. Like the Russia hoax. The message is "Republicans are EVIL" ... and when the hoax is outed, the media ceases reporting on it and never says "our bad" ... and then it is on to "Ukraine" or something else. 

I thought it read well, because I enjoyed his writing style and his chronicling of the massive drinking, smoking and general "hard" lifestyles of the late 50's and 60's.  

He matter of factly covers the vote fraud that "elected" Kennedy, and he used his being a registered Democrat and sneaky journalist skills to personally observe the massive voter fraud in Daley's Chicago. You know, the thing that never happens and you have to be a racist crazy to claim it does! 

If you are interested in an insider's view of American politics of the 50's to Obama, this is a good book. If you are a liberal, you will like the NYTs review which will naturally put a left spin on it.  

Cancelling Orwell

 https://www.vox.com/culture/22233197/orwellian-definition-george-orwell-1984-politics-english-language-josh-hawley-donald-trump-jr

Sometimes the rantings of the left are simply funny -- although tragically "funny" as Biden is inaugurated. 

It’s possible Donald Trump’s greatest talent is driving people to buy copies of 1984.

When Trump took office in 2017, sales of George Orwell’s dystopian classic went up by 9,500 percent. And in the wake of January’s Capitol riot, as Senator Josh Hawley decried his book cancellation as “Orwellian” and Donald Trump Jr. responded to his father’s ban from Twitter with the lament that “We are living Orwell’s 1984,” 1984 once again flew up Amazon’s bestseller list, briefly sitting at No. 1.

Last time 1984 returned to the bestseller list, it was because terrified liberals feared the Trump administration would drive us straight into the dystopian horrors of 1984, in which Big Brother is always watching, forcing his subjects to believe that 2 + 2 = 5 if he says it does. This time, it appears to be because outraged conservatives fear that private corporations have begun to censor public speech. But either way, it’s Orwell’s time to shine again.

And so “Orwellian” has become the word of the moment. In fact, it has become the kind of lazy, hackneyed, cliché word of the moment that Orwell himself despised.

So when Trump took office, the sales of 1984 went upf 9,500 percent. As Biden takes office, the sales briefly sat at #1. THEREFORE, it is now time to declare mentions of Orwell's 1984 "as the kind of lazy, hackneyed, cliché word of the moment that Orwell himself despised."

Naturally, when Trump was elected, references to the book were entirely valid! The "truth" is whatever MSM says it is -- and if you say "what about", well, the left has discredited any invocations of "hypocrisy" directed at them via the new term "Whataboutism" -- though of course use of such accusations against the right are still valid. 

I'm quite certain that VOX was totally fine with "sexual preference" went from being fine in the AM until Amy Coney Barrett used it, to offensive in the PM!

Are there ANY words that are not merely whatever the left says they are? 

The 1776 Commission Report

https://www.powerlineblog.com/archives/2021/01/1776-commission-reports.php 

I have not taken the time to read the report yet, but I'm certain that given the people involved in developing it, and the organizations opposing it, it is worthy of attention. 

A statement on what it is about: 

The 1776 Commission—comprised of some of America’s most distinguished scholars and historians—has released a report presenting a definitive chronicle of the American founding, a powerful description of the effect the principles of the Declaration of Independence have had on this Nation’s history, and a dispositive rebuttal of reckless “re-education” attempts that seek to reframe American history around the idea that the United States is not an exceptional country but an evil one.