mersenneforum.org  

Go Back   mersenneforum.org > Extra Stuff > Soap Box

Reply
 
Thread Tools
Old 2021-01-15, 12:59   #1
Dr Sardonicus
 
Dr Sardonicus's Avatar
 
Feb 2017
Nowhere

5×19×47 Posts
Default Mystery Economic Theater 2021

Trump Regulator's Rule Would Force Banks To Lend To Gun-Makers And Oil Drillers
Quote:
The Trump administration is trying to push through a last-minute rule that could force banks to offer loans to gun-makers and oil exploration companies or to finance high-cost payday lenders.

The move follows announcements by the biggest U.S. banks that there are some industries and activities they don't want to finance, such as drilling for oil in Alaska's Arctic National Wildlife Refuge or making loans to gun manufacturers who make assault-style weapons. Some major banks have sworn off making those loans.
Dr Sardonicus is offline   Reply With Quote
Old 2021-01-15, 13:29   #2
axn
 
axn's Avatar
 
Jun 2003

10011001100102 Posts
Default

Wouldn't this run into forced speech / first amendment issues?
axn is offline   Reply With Quote
Old 2021-01-15, 13:37   #3
Dr Sardonicus
 
Dr Sardonicus's Avatar
 
Feb 2017
Nowhere

10001011100012 Posts
Default

Quote:
Originally Posted by axn View Post
Wouldn't this run into forced speech / first amendment issues?
I'm not sure about free speech, but I imagine it will run into some legal issues. Possibly something based on "substantive due process," which basically means that laws should forward the legitimate aims of government.

But my guess is, the new Administration will deep-six the new rule.
Dr Sardonicus is offline   Reply With Quote
Old 2021-01-26, 22:01   #4
bsquared
 
bsquared's Avatar
 
"Ben"
Feb 2007

22×23×37 Posts
Default

Is anyone else following the insanity that is GME (GameStop) stock right now? I have no stake in it one way or another, but I've been following the story for a while now and it is simply historic.
bsquared is offline   Reply With Quote
Old 2021-01-26, 22:21   #5
masser
 
masser's Avatar
 
Jul 2003
wear a mask

22×3×131 Posts
Default

Quote:
Originally Posted by bsquared View Post
Is anyone else following the insanity that is GME (GameStop) stock right now? I have no stake in it one way or another, but I've been following the story for a while now and it is simply historic.
The madness of crowds. It'll be painful when the party ends.
masser is offline   Reply With Quote
Old 2021-01-27, 00:33   #6
Dr Sardonicus
 
Dr Sardonicus's Avatar
 
Feb 2017
Nowhere

5·19·47 Posts
Default

Quote:
Originally Posted by bsquared View Post
Is anyone else following the insanity that is GME (GameStop) stock right now? I have no stake in it one way or another, but I've been following the story for a while now and it is simply historic.
Gamestop. Huh, never heard. [Google Google]

Hmm, it seems the same shenanigans are being played with a number of stocks.

Fascinating. A group of investors on the the WallStreetBets subreddit of Reddit manages to create enough demand to drive a stock higher though the company's prospects are not rosy, the vultures have begun to circle, and its stock is being sold short.

As I understand it, a short sale is usually of borrowed shares. The broker who loaned the shares for the short sale can and will will step in and close the short position if the price moves too far the wrong way too fast, and the short seller then has to pay up. So if a stock expected to fall rises rapidly instead, it creates a "short squeeze," in which the short sellers scramble to buy back their borrowed shares before the price goes too high and they lose their shirts. And this increased demand helps drive the price up further.

So one thing is, these folks driving up stocks despite the companies' prospects are sticking it to short sellers.

Once all the current short positions are closed out, my guess is, the company's actual prospects come back into view, and it's "look out below!"

Last fiddled with by Dr Sardonicus on 2021-01-27 at 00:37 Reason: Reparagraphing
Dr Sardonicus is offline   Reply With Quote
Old 2021-01-27, 03:50   #7
LaurV
Romulan Interpreter
 
LaurV's Avatar
 
Jun 2011
Thailand

33·347 Posts
Default

You can only sell short on an uptick. When it falls, it falls hard.
LaurV is online now   Reply With Quote
Old 2021-01-27, 05:02   #8
retina
Undefined
 
retina's Avatar
 
"The unspeakable one"
Jun 2006
My evil lair

17E716 Posts
Default

The real WTF here is that huge casino everyone refers to as the stock market.
retina is online now   Reply With Quote
Old 2021-01-27, 17:34   #9
masser
 
masser's Avatar
 
Jul 2003
wear a mask

157210 Posts
Default

Quote:
Originally Posted by Dr Sardonicus View Post
Once all the current short positions are closed out, my guess is, the company's actual prospects come back into view, and it's "look out below!"
Here's the take of a cryptocurrency dude: recent political radicalism is bleeding into finance. The crazy short-squeezing in GME is just one more item in the list of "symptoms of growing inequality."
masser is offline   Reply With Quote
Old 2021-01-27, 18:03   #10
bsquared
 
bsquared's Avatar
 
"Ben"
Feb 2007

1101010011002 Posts
Default

Quote:
Originally Posted by masser View Post
Here's the take of a cryptocurrency dude: recent political radicalism is bleeding into finance. The crazy short-squeezing in GME is just one more item in the list of "symptoms of growing inequality."
Sounds about right. Browse through r/WSB right now and you'll see a lot of hate directed toward "the man". Some seem less interested in making money than they are in taking down the establishment.
bsquared is offline   Reply With Quote
Old 2021-01-27, 18:23   #11
xilman
Bamboozled!
 
xilman's Avatar
 
"π’‰Ίπ’ŒŒπ’‡·π’†·π’€­"
May 2003
Down not across

2×5,323 Posts
Default

Quote:
Originally Posted by bsquared View Post
Some seem less interested in making money than they are in taking down the establishment.
So what else is new?
xilman is offline   Reply With Quote
Reply

Thread Tools


Similar Threads
Thread Thread Starter Forum Replies Last Post
Mystery Economic Theater 2020 Dr Sardonicus Soap Box 170 2020-11-17 05:13
Mystery Economic Theater 2017 ewmayer Soap Box 42 2017-12-30 06:07
Mystery Economic Theater 2016 ewmayer Soap Box 90 2017-01-01 01:46
Mystery Economic Theater 2015 ewmayer Soap Box 200 2015-12-31 22:49
Mystery Economic Theater 2010 ewmayer Soap Box 827 2010-12-31 08:41

All times are UTC. The time now is 06:16.

Sat Apr 17 06:16:38 UTC 2021 up 9 days, 57 mins, 0 users, load averages: 1.71, 2.14, 2.05

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.

This forum has received and complied with 0 (zero) government requests for information.

Permission is granted to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1.2 or any later version published by the Free Software Foundation.
A copy of the license is included in the FAQ.