Wednesday, January 27, 2021

Democracy comes to Wall Street

When I was twelve years old, my dear Daddy took me to this stock-broker joint just on the edge of St. George's Square, right in the beating heart of Guelph.

In hindsight, what's really messed about this memory, is that at the time, my dad was still working in a factory.

Say what? Factory guys on the night shift spend their days watching the ticker? How fucked up is that?

But I saw it with my own eyes, and I've kinda followed the stock markets ever since. Yup, made a lot of money over the years... and yup, lost pretty much the same amount... maybe a bit more.

Point being, I still follow that shit, and never since I was twelve years old have I ever seen the crazy shit I'm seeing now.

Right now, Tesla, the manufacturer of exploding EVs, is worth two or three times more than all other car companies combined, including those companies that have been building cars for 120 years...

A couple of serious hedgies have just taken a gazillion dollar haircut betting against the millennial hordes who have recently besieged on-line brokerages with their stimulus cheques. The masses have discovered the market!

Democracy has come to Wall Street!


Alas, this too will end in tears.




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