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>This is incoherent; people getting memed into buying a dying retailer and losing money in the process proves nothing, It originally started when someone notic
by 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.