We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
Our Recent Essays Behind the Front Page
Thursday, February 4. 2021
Ned Beatty explains how the world really works to a doe-eyed crank in Network. A wonderful parable for our times, and still spot on 45 years after it was made. The Wall Street Bets kids will be cozened into Janet Yellen's boardroom shortly, and get Citadel's version of this speech.
I'll explain the GameStop/Reddit/Wall Street Bets frenzy in the simplest terms possible. They've all joined a joint-stock Amway.
His company manages $73 billion in assets for public pension funds. Public pension funds are about to get maybe a third of a trillion or so in bailouts, masquerading as aid to state and local governments. He won't be eating ramen anytime soon.
I guess IBM is being haunted by the ghost of Romettys past. You will be visited by three spirits. Listen to them, and do what they say, or your (block)chains will be heavier than mine.
Got that? "Researchers" say it wasn't slavery. It was "national service." Give them another couple years to research the topic, and they'll be able to explain it was just like playing Minecraft, only with real blocks. Loads of fun for the whole conscripted family!
No sweat. Xi will just get some researchers to rename it "national service."
Pretty soon, we'll perfect bizarro world college admissions where the only way a white male can attend is to make the football team.
I've been accused of being a narcissist. But enough about me. What do you think about me?
Cookies for me, but not for thee, says Google, and every toddler's mother.
Flu season in India runs from October to February. It's February. You're welcome.
People mistakenly believe that designing electric cars is an electric car problem. But electric cars are about as old as gasoline-powered designs. They didn't catch on because the batteries sucked, and gasoline rocked, and was damn near free. The batteries still suck, and only work on a boondoggle basis. Supercapacitors are the future of electric cars and solar storage.
Well, that's the links for this morning. I hope you found them enjoyable or informative or amusing. But remember: It's the individual that's finished. It's the single, solitary human being that's finished. It's every single one of you out there that's finished. Because this is no longer a nation of independent individuals. It's a nation of some two hundred odd million transistorized, deodorized, whiter-than-white, steel-belted bodies, totally unnecessary as human beings and as replaceable as piston rods.
I'm sorry. Did I say that out loud? I meant to say, "Have a nice day!"
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Glenn Reynolds wonders if India's crash in COVID numbers has anything to do with the cheap and over-the-counter-available supplies of hydrochloroquine and ivermectin. There are hospitals in India that have been routinely prescribing safe, cheap ivermectin for many months and showing good results.
Others guess that India got to herd-immunity levels really, really fast.
I'm not confident it will be easy to find out, given the hysterical politicization of any attempt to draw rational conclusions from data.
Reddit's REAL problem is that they dared to stand against the filthy tribe swill who run the markets in the West. When THEY do it to the mere peons, everything is fine. But when somebody dares stand against THEM, well...
Re: Hedge funds emerge mostly unscathed from Reddit trader drama
Maybe ... but I bet most of them will be looking over their shoulders for a good while, yet.
First, consider the source... Aljazeera. Then examine the theme: most of the article compares that one trade with the broader market which comparing apples and oranges:
Even after the worst-ever short squeeze forced professional speculators to deleverage by the most in more than a decade, the smart money is staying invested in the U.S. stock rally with exposure near a record high, Goldman Sachs Group Inc. prime brokerage data show.
Then consider the numbers. Funds shorted 140% of the total shares. That’s a lot. GME went from $76 to over $400 in two days. From what I’ve been able to find out, funds were shorting GME down at $40. The explosion from $76 to $400 was probably largely fueled by funds getting out of positions that were already losers and were disasters when they finally got out.
Finally, consider that hedge fund managers are not known for their humility. What would it take for them to go public with their rage at some amateurs complaint that they had been snookered?
No, the funds didn’t have to close down, but you can bet the Reddit gang hurt them A LOT.
Talking about "Beating the hedge funds at their game" is a bit misleading. It looks like there may be as few as five funds that were hit hard by being over-leveraged in short GME positions, and most of that loss seems to have been borne by a single fund, Melvin.
re It's the individual that's finished. It's the single, solitary human being that's finished. It's every single one of you out there that's finished. Because this is no longer a nation of independent individuals. It's a nation of some two hundred odd million transistorized, deodorized, whiter-than-white, steel-belted bodies, totally unnecessary as human beings and as replaceable as piston rods.
Agreed. Our overlords merely see us as cogs in a machine, to be modified, lubricated and discarded as they see fit.
It's the individual that's finished.
You two losers know yourselves best.
I'm one of the odds of the millions, but I'm odd in my own way. Which will remain secret! hahahahahahahahahahahahhahaha.
OH! Sorry, that was supposed to be BWAHahahahahahahaha.
The teachers union needs to be disbanded, no more unions for public employees. But first the states need to change the law and allow every parent to place their child in any school they wish and use the funding that would have been spent for their education to do it. Allow the funding to follow the child.
Re: The transgenders in women's sports. Parents need to boycott women's sports. Don't put their children in them until the politicians reverse this stupid decision. And if schools allow transgenders in the girls locker room they should boycott gym classes. Community action can overturn this mistake.
Of course slaves didn't build the pyramids - slavery didn't exist until 1619, everybody knows that.
Hedge funds emerge mostly unscathed from Reddit trader drama
And Janet Yellen has been paid to make sure this never happens again.
Things I bet you didn't know. Slavery was a basic institution in Korea for most of its history. It started to decline in the 19th century and was formally abolished by King Gojong in 1894, but did not actually end until the 1930s, during the period Korea was a colony of Japan.
Slavery persisted until the end of WW2, with the defeat of Japan. Korea was less a colony than an occupied territory with all things Korean forbidden. Men were forced to labor for Imperial Japan; most women were enslaved as "comfort women" -- sex slaves confined in military brothels ("comfort stations") throughout the empire. The treatment of women by the Imperial Japanese Army is still a source of tension between Japan and Korea to this day.
the QUT team describes a design
Oh, a design! So the magic isn't quite here yet. The green super cars, airplanes and spaceships, well, we don't know when they will actually arrive.
I've always wondered what would happen if you shot a hole in a supercapacitor and released all that energy at once... What kind of energy release takes place? It's all stored in there, and not in chemical form. Does it go boom? Does it get white hot? Anyone know?
Re: Ned Beatty speech in Network, He gave a shorter version of this speech in Shooter, on the mountain top.
When I think electric cars, I think Grandma Duck. But then I always hankered after a Stanley Steamer.