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Something which happened post 2009 was the economists, especially krugman's major failed predictions, was that we do not live in a free market. The entire 'gam

Something which happened post 2009 was the economists, especially krugman's major failed predictions, was that we do not live in a free market. The entire 'gamestop' thing was about proving this and they utterly destroyed a few brokerages. ESG is basically dead at this point. There's a political movement which has failed, it's crescendo was in 1989 but is strong even today. It's the movement which is destroying South Korea and Japan. Some of Europe, especially Canada. We're watching the last bit of their existence in politics. They will soon migrate to being a religion where they belong. Its not that the economists dont know what they are doing, they have a martyr political movement ready to burn everything down as they stop existing and this makes economics quite hard when you dont account for this. Luckily, it appears that Canada will be the beacon of freedom in the future.

anentropic 3y ago
What's happening in Canada?
pjc50 3y ago
> The entire 'gamestop' thing was about proving this and they utterly destroyed a few brokerages. ESG is basically dead at this point. This is incoherent; people getting memed into buying a dying retailer and losing money in the process proves nothing, and ESG is now pretty deeply ingrained as it becomes impossible to ignore the side effects of not caring.
- incomingpain 3y ago
  >This is incoherent; people getting memed into buying a dying retailer and losing money in the process proves nothing, It originally started when someone noticed that there was more shorts then actual issued stock. https://www.reuters.com/article/us-retail-trading-shortselling-explainer/explainer-how-were-more-than-100-of-gamestops-shares-shorted-idUSKBN2AI2DD/ https://www.reuters.com/article/us-retail-trading-shortselli... >According to financial analytics firm S3, GameStop's peak short interest was 141.8% of its float on Jan. 4. So what was discovered was that the system was rigged. It should literally not possible to do this. So you buy in and those shorts eventually have to buy your stock from you and you get to decide how much $ they owe you. Aka infinite money. turns out it was a problem unique to the USA markets. The government enabled this, the government broke the free market. But why? Who did this? People needed to investigate. >nd ESG is now pretty deeply ingrained as it becomes impossible to ignore the side effects of not caring. Turns out this ending of the free market was done in the name of ESG. So you have the government picking winners and losers intentionally. When Russia declared war on Ukraine. ESG pretty much died. Europe pretty much signed up for decades of fossil fuels. https://www.reuters.com/sustainability/sustainable-finance-reporting/comment-pushback-against-esg-has-hit-europe-heres-how-investors-can-ride-out-2024-03-14/ https://www.reuters.com/sustainability/sustainable-finance-r... https://www.bloomberg.com/news/articles/2024-02-28/climate-investors-warn-the-right-is-winning-the-war-on-esg https://www.bloomberg.com/news/articles/2024-02-28/climate-i... But this last article is incorrect. A political movement that isn't in power is not winning the war. ESG is losing the war and taking massive losses on their own. This is the huge fear of elections. If free markets are re-enabled, ESG takes even bigger losses. I dont know if Trump winning later this year will have major impacts on this at all. As far as Im aware he isnt aware of any of this because he could have fixed it during his 4 years. >impossible to ignore the side effects of not caring. When you acknowledge that the free market is broken. Economists know this as fact now. It's a government manipulated market. You can look into what those side effects really are and the political movements producing what you believe is 'impossible to ignore' But as I said, we're in the last hurrah of a major political movement. Gen Z has rejected them and should usher in solution to political polarization and the echo chamber problems. This political movement will shift to become a religion and that's where it will last.

anentropic 3y ago

What's happening in Canada?

pjc50 3y ago

> The entire 'gamestop' thing was about proving this and they utterly destroyed a few brokerages. ESG is basically dead at this point. This is incoherent; people getting memed into buying a dying retailer and losing money in the process proves nothing, and ESG is now pretty deeply ingrained as it becomes impossible to ignore the side effects of not caring.

incomingpain 3y ago
>This is incoherent; people getting memed into buying a dying retailer and losing money in the process proves nothing, It originally started when someone noticed that there was more shorts then actual issued stock. https://www.reuters.com/article/us-retail-trading-shortselling-explainer/explainer-how-were-more-than-100-of-gamestops-shares-shorted-idUSKBN2AI2DD/ https://www.reuters.com/article/us-retail-trading-shortselli... >According to financial analytics firm S3, GameStop's peak short interest was 141.8% of its float on Jan. 4. So what was discovered was that the system was rigged. It should literally not possible to do this. So you buy in and those shorts eventually have to buy your stock from you and you get to decide how much $ they owe you. Aka infinite money. turns out it was a problem unique to the USA markets. The government enabled this, the government broke the free market. But why? Who did this? People needed to investigate. >nd ESG is now pretty deeply ingrained as it becomes impossible to ignore the side effects of not caring. Turns out this ending of the free market was done in the name of ESG. So you have the government picking winners and losers intentionally. When Russia declared war on Ukraine. ESG pretty much died. Europe pretty much signed up for decades of fossil fuels. https://www.reuters.com/sustainability/sustainable-finance-reporting/comment-pushback-against-esg-has-hit-europe-heres-how-investors-can-ride-out-2024-03-14/ https://www.reuters.com/sustainability/sustainable-finance-r... https://www.bloomberg.com/news/articles/2024-02-28/climate-investors-warn-the-right-is-winning-the-war-on-esg https://www.bloomberg.com/news/articles/2024-02-28/climate-i... But this last article is incorrect. A political movement that isn't in power is not winning the war. ESG is losing the war and taking massive losses on their own. This is the huge fear of elections. If free markets are re-enabled, ESG takes even bigger losses. I dont know if Trump winning later this year will have major impacts on this at all. As far as Im aware he isnt aware of any of this because he could have fixed it during his 4 years. >impossible to ignore the side effects of not caring. When you acknowledge that the free market is broken. Economists know this as fact now. It's a government manipulated market. You can look into what those side effects really are and the political movements producing what you believe is 'impossible to ignore' But as I said, we're in the last hurrah of a major political movement. Gen Z has rejected them and should usher in solution to political polarization and the echo chamber problems. This political movement will shift to become a religion and that's where it will last.