Robinhood Thursday and the Washington Idiots at Work, by David Stockman

Central banks’ profligate production of fiat debt liquidity is behind the Gamestop fiasco and stock market valuations completely untethered from underlying economic value. From David Stockman at David Stockman’s Contra Corner via lewrockwell.com:

Today, especially, the “idiots at work” sign should be flying high over Capitol Hill.

We are referring to the boisterous congressional hearings about who is to blame for the crash of GameStop, the alleged nefarious machinations of the hedge funds and Robinhood and the purportedly innocent victims in mom’s basement who thought call options were the greatest new video game since Grand Theft Auto IV.

But among today’s silly foibles, the incessantly repeated idea that the Reddit Mob was a victim of a “pump and dump” scheme surely takes the cake. If these people were stupid enough to think that the value of a company dying in plain sight (i.e. GME) could go from $400 million to $23 billion in less than six months while its reported finances continued to deteriorate, they deserve to loose every dime of the stimmy money they threw into the Robinhood pot.

Still, the fact that the greedy, dimwitted Reddit Mob got its just desserts isn’t the half of it.

What was really on display Thursday in the recently christened (since January 6th) Holy of Holies of American Democracy is the utter cluelessness on both sides of the political aisle with respect to the financial elephant in the room: Namely, that the Fed has transformed Wall Street into a giant, destructive gambling den, which is now sucking a growing share of the populace into the pursuit of instant get-rich speculations that have no chance of panning out.

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2 responses to “Robinhood Thursday and the Washington Idiots at Work, by David Stockman

  1. Pingback: Robinhood Thursday and the Washington Idiots at Work, by David Stockman | STRAIGHT LINE LOGIC – Additional survival tricks

  2. ONE OF THE MAIN REASONS THAT THINGS OF THIS WORLD FROM ONE DIMESION REMAINS IS THAT YOU HAVE EVERY INDUSTRY ROLLED INTO ONE: MILITARY INDUSTRIAL COMPLEX, FOOD, HOLLYWOOD, COSMETICS, EDUCATION (ALSO SCIENCE IN GENERAL), ADVERTISMENT INDUSTRY, DEFENSE, ETC…ALL OF THESE AND MANY MORE PLOT AND PLAN TOGETHER. THEY ALWAYS WANT US TO LOOK UP TO THEM, WITHOUT TAKING SOME PRIDE IN OURSELVES. THIS MAY SOUND LIKE I AM ON THE LUNATIC FRINGE OF THINGS, BUT IT HAS BEEN PROVEN TO BE EVERY BIT ACCURATE AND FACTUAL, MANY IN THESE INDUSTRIES THAT PLOT AND PLAN TOGETHER HAVE CONTACT WITH SPACE ALIENS, THAT WANT TO SEE THE HUMAN RACE DESTROYED. EVEN PRESIDENT EISENHOWER AND OTHERS HAVE HAD SPACE ALIENS OCCUPY THE WHITE HOUSE, AND MANY HAVE CONTRACTS WITH THESE BEINGS. CAN WE NOT COME OUT OF THE BOX, TO LOOK FOR THE FACTS, THAT MAY SEEM UNREAL AT THE MOMENT. EVEN THESE FALLEN ANGELS (SPACE ALIENS) HAVE MATED WITH THE DAUGHTERS OF MEN, THE TORAH (HOLY BIBLE) HAVE TOLD AND EXPLAINED THAT TO US. THE BEAT GOES NOT, UNTIL THE RETURN OF JESUS CHRIST. THE RETURN OF JESUS CHRIST, IS THE ONLY BEGOTTEN SON OF YAHVEH IS GOING TO STOP THEM, AS FOR US WE HAVE BECOME TOO MUCH IMPRESSED WITH AESTHETICS, GLAMOUR, MONEY, AND TOO LONG HOLDING ONTO UNFULFILLED PROMISES. IF THERE IS A CORRUPT POLITICIAN, THERE IS ONE MAKING DEALS WITH SPACE ALIENS AND/OR ANOTHER POLITICIAN THAT IS SPACE ALIEN SUPPORTED. THEIR EDUCATORS DO NOT COME LAW SCHOOLS, BUT FROM FAR DIFFERENT LOCATIONS. WE GET FOOLED AGAIN EVERYTIME AND ALL OF THE TIME, TRANSHUMANISM IS ON ITS WAY, BUT SHALL NOT LAST FOR LONG.

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