Meme Stock Reddit Revolution Edition

More than a few friends and former students have asked me about the Gamestop short squeeze saga and the Reddit retail meme stock revolution. Having taught a behavioral investing course for four years, I viewed this case of usually docile punters using Reddit to take over the casino as potentially profitable, as any example of the market’s bipolar mob psychology should be.

Real economics: the JMK aggregate demand graph (

Debt Zombie Haleynomics: Britain’s Buffett vs the Austrian Austerian

Why channel check firms exist — and how an individual investor can channel check

How the Information You Don’t Have Can Take Your Money

Anyone reading the title must think the writer believes he’s smart money. I confess to having been both, though not simultaneously. My purpose here is to show how dumb money can become smart money, because being at the wrong end of information asymmetry is the very definition of dumb money.

Giulio Andreotti, postwar Italy’s Machiavellian prince of power politics, coined this aphorism: “power exhausts only those who don’t have it.” Similarly, information can exhaust the finances of individual investors because they don’t know about the catalyst that institutional investors may… MTG’s Rothschild kosher space laser set to fire at California

Travels in the Valley of the Trumpster Trolls

Take a tour of a country where “you people in (nordic) Minnesota have the best genes” and Rothschild space lasers set California wildfires is truth and not Nazism, and writing about this narcissistic nationalist cult is delusional:

In the Facebook post Rep. Greene made the word Jew or Jewish is never mentioned. That is a delusion. Soros also was never mention. You have been brainwashed by the left and their political ally the fake news and apparently have never read what she wrote. It had to do with PG&E and Solaren who PG&E invested in. It also connected the dots…

Trumpublican Endgame: Two Tracks to Permanence in Power

Trump got lonely playing with Nazis all by himself. So he invited other Republicans to play with his motley mob of “stand back and stand by” Proud Boys, gallows-building neo-confederates, Camp Auschwitz Nazis and stacked Oathkeepers. All answered their tribune’s call — “Big Protest in DC January 6. Be There, Will be wild!” —and dream he’ll be reinstated in August. Fantasy fraudits by QAnonified Arizona Cyberninjas and the Dallas Patriot Roundup crowd’s cheers for Myanmarifying America show that the January 6 insurrection was a performative rehearsal. The Nazis had their rehearsal beer hall putsch. …

Dutch West India Company headquarters in Amsterdam. Photo by Author

and the Americans Copy the Copy.

To Prosper, Everyone Else Adapts…

The Dutch didn’t make just America, but the modern global capitalist world. The Netherlands is a covert, pocket superpower whose financial and legal model other societies have copied, and prospered from, or failed to and didn’t.

The long story is in Why Nations Fail: the Origins of Power, Prosperity and Poverty (Acemoglu and Robinson). Herein you’ll read the short version: the Dutch created the modern world and its trading networks, the English copied them and the Americans and the rest of the Anglosphere copied the copy.

Everybody else had to adapt and play catchup to prosper (France, Germany, Italy, the…

The comedy that became a documentary. (not copyright, for sale on Ebay)

The Lords of Rage Monetization Algos: Zuckerberg, Dorsey, Murdoch

“Sur-veil-lance Cap-i-tal-ism, n. 1. A new economic order that claims human experience as free raw material for hidden commercial practices of extraction, prediction, and sales; 2. A parasitic economic logic in which the production of goods and services is subordinated to a new global architecture of behavioral modification; 3. A rogue mutation of capitalism marked by concentrations of wealth, knowledge, and power unprecedented in human history…” — The Age of Surveillance Capitalism, Shoshana Zuboff, page 8)

When a widely read writer, Umair Haque, calls 2020 “the year of the idiot”, ask why. Collective COVidiocy is a symptom, not an explanation…

Trump presidency ends with alternative fact conspiracist Trump telling followers to “fight like hell”, which they do. The Lansing Capitol invasion in April was clearly a rehearsal

To Cover Up the Stop the Steal 2.0 Inside Job….

McConnell & Co. filibustered the independent commission to cover up the insider branch of the insurrection. The message to the Stop the Steal base that’s hiding in plain sight: calm down and wait for us to deliver legislatively with voter suppression laws passed by gerrymandered Republican state houses what failed on January 6. But he has a cat herding problem on two sides: Gosar, Clyde, Brooks, MTG, Johnson, Gaetz and Hice on one and the seven senators who voted to convict Trump on the other:

“”I think there’s more to be learned,” Murkowski added. “I want to know and I…

Point Taken on “Let me tell you about Israel”, but

Let Me Tell You What the Palestinians Say They Want

“You must be a religious Jew who believes the propaganda.”

Was the response I got from introducing historical facts to “Let me tell you about Israel”.

First, the Zionist movement began in the 1870s and 1880s, long before Herzl reacted to covering the Dreyfuss trial and writing Der Judenstaat in 1896. 150 years ago, when Herzl supposedly concluded there was no cure for European anti-semitism, Herzl was eleven.

Second, Palestine was not a country, but an Ottoman province run by…

Lester Golden

From Latvia I write to share learning from life in 7 languages in 5 countries & seeing fascism die in Portugal & Spain in 1974 and 1976.

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