I have been watching the Reddit/GameStop thing unfold and the way it’s been covered by various media sources, including Conservative pod-casts and talk radio.

The camps have split into:

“Redditors are financial terrorists who are going to destroy the stock market and economy.”

And

“Hedge funds deserve this and more because they are a bunch of fuckers who use the market like a casino and it’s only a problem when a bunch of internet randos beat them at their own game.”

I think the person who annoyed me the most on this was Ben Shapiro, who said (paraphrasing) “if you believe in the need for a stock market, you have to condemn what these Redditors are doing.”

I know what I want to happen here won’t happen, but I can believe that both sides are right and both sides are wrong because both sides are complaining about something that is orthogonal to the real problem.

The absolute, number one, real problem with the stock market is that we have a system in which the value of a stock is mostly if not totally divorced from every other metric of a company’s success.

Tesla was valued more than Ford, even though Tesla only sells 500,000 cars in a year and Ford sells about 6 million.  Tesla wasn’t going to outsell or out-earn Ford.  But because of the way investing works, Tesla’s valuation could be worth far more than everything about the company is actually worth.

This sort of fuckery can lead to problems like Elizabeth Holmes, CEO of Theranos, who through the culture of venture capitalism, silicon valley, and the cult of the tech CEO, used fraud to pump the sock value of her company to be worth billions while never producing a single viable product.

Then there is the attitude that a company’s main responsibility is to its shareholders.  That leads to fuckery like what Boeing has done (well documented on this blog) which was great for people with Boeing stock in the short term, but literally killed people as cost-cutting in testing caused planes to fly themselves into the ground and spacecraft to fail to reach orbit.

In theory, I could start a local bakery with one storefront, take it public, and if I worked the market right, could make it worth billions in valuation from trading even though all I do is sell cupcakes one at a time to housewives.

What we need to do is regulate the stock market.

Short selling should be banned, it provides no overall economic good.  It allows some people to get rich by hurting companies.  Like betting that an old man with a cane will fall and break a hip.  Short-sellers make money off the suffering of others.

Second, we need to figure out how to more firmly tie a stock’s value to the value of the company.  You can’t have wide dispersions in value.

If the idea is that buying stock is investing in a company, betting that the company will do well, you need that company to actually do well, not just have the value of the shares do well regardless of the company’s performance, or vice versa.

The stock market cannot be a casino.  Redditors proved how much of a broken system it is.  Rather than attack them as financial terrorists, we need to regulate the market.

*BIDEN TEAM IS 'MONITORING THE SITUATION' WITH GAMESTOP: PSAKI https://t.co/62Bv6RYnfO pic.twitter.com/hSSFEB9RtI

— Bloomberg (@business) January 27, 2021

Janet Yellen is a dyed in the wool Kenysian who only really knows how to make herself rich while depressing the economy for the rest of us.

But don’t worry about that, she’s a woman.

Vice President Kamala Harris’ 21-year-old stepdaughter Ella Emhoff has signed a deal with one of the world’s most prestigious modeling agencies, IMG Models.

“It’s not really about shape, size or gender any more,” Ivan Bart, the president of IMG Models, told the New York Times on Thursday. “Ella communicates this moment in time. There’s a cheekiness and a joy she exudes.”

Kamala Harris’ Stepdaughter Ella Emhoff Signs Deal with IMG Models.

I guess they needed a beatnik re-enactor who is anorexic and has the languid look of a heroin user. I hear it is the latest sexy.

Lots of tequila…

Hat Tip Zeigfried Whiffle

H. R. 127

To provide for the licensing of firearm and ammunition possession and the registration of firearms, and to prohibit the possession of certain ammunition.

“(a) In General.—The Attorney General, through the Bureau of Alcohol, Tobacco, Firearms and Explosives, shall establish a system for licensing the possession of firearms or ammunition in the United States, and for the registration with the Bureau of each firearm present in the United States.

“(b) Firearm Registration System.—

“(1) REQUIRED INFORMATION.—Under the firearm registration system, the owner of a firearm shall transmit to the Bureau—

“(A) the make, model, and serial number of the firearm, the identity of the owner of the firearm, the date the firearm was acquired by the owner, and where the firearm is or will be stored; and

“(B) a notice specifying the identity of any person to whom, and any period of time during which, the firearm will be loaned to the person.

“(2) DEADLINE FOR SUPPLYING INFORMATION.—The transmission required by paragraph (1) shall be made—

“(A) in the case of a firearm acquired before the effective date of this section, within 3 months after the effective date of this section; or

“(B) in the case of a firearm acquired on or after the effective date, on the date the owner acquires the firearm.

“(3) DATABASE.—

“(A) IN GENERAL.—The Attorney General shall establish and maintain a database of all firearms registered pursuant to this subsection.

“(B) ACCESS.—The Attorney General shall make the contents of the database accessible to all members of the public, all Federal, State, and local law enforcement authorities, all branches of the United States Armed Forces, and all State and local governments, as defined by the Bureau.

This bill requires you to provide, make, model, serial number, and location of storage to a database that is available to the public.  Anyone in America would know the exact content of your gun safe and where it is located.

“(A) GENERAL LICENSE.—Except as otherwise provided in this subsection, the Attorney General shall issue to an individual a license to possess a firearm and ammunition if the individual—

“(i) has attained 21 years of age;

“(ii) after applying for the license—

“(I) undergoes a criminal background check conducted by the national instant criminal background check system established under section 103 of the Brady Handgun Violence Prevention Act, and the check does not indicate that possession of a firearm by the individual would violate subsection (g) or (n) of section 922 or State law;

“(II) undergoes a psychological evaluation conducted in accordance with paragraph (2), and the evaluation does not indicate that the individual is psychologically unsuited to possess a firearm; and

“(III) successfully completes a training course, certified by the Attorney General, in the use, safety, and storage of firearms, that includes at least 24 hours of training; and

“(iii) demonstrates that, on issuance of the license, the individual will have in effect an insurance policy issued under subsection (d).

“(2) PSYCHOLOGICAL EVALUATION.—A psychological evaluation is conducted in accordance with this paragraph if—

“(A) the evaluation is conducted in compliance with such standards as shall be established by the Attorney General;

“(B) the evaluation is conducted by a licensed psychologist approved by the Attorney General;

“(C) as deemed necessary by the licensed psychologist involved, the evaluation included a psychological evaluation of other members of the household in which the individual resides; and

“(D) as part of the psychological evaluation, the licensed psychologist interviewed any spouse of the individual, any former spouse of the individual, and at least 2 other persons who are a member of the family of, or an associate of, the individual to further determine the state of the mental, emotional, and relational stability of the individual in relation to firearms.

You will have to see a shrink who will get to decide if you can own a gun.  Not just do you have to see a shrink but at least two other people will have to attest to the shrink that you can own a gun.

If you have a bitch ex-wife, she can throw a monkey wrench into the whole thing because former spouses are required to be interviewed.

“(C) MILITARY-STYLE WEAPONS LICENSE.—The Attorney General shall issue to an individual a license to own and possess a military-style weapon if the individual—

“(i) is the holder of a license issued under subparagraph (A); and

“(ii) after applying for a license under this subparagraph, successfully completes a training course, certified by the Attorney General, in the use, safety, and storage of the weapon, that includes at least 24 hours of training and live fire training.

You have to have a separate second license to own a “military-style weapon.”

“(B) AUTHORIZED FOR LACK OF FIREARM INSURANCE.—The Attorney General may suspend a license issued under this subsection to an individual who has violated section 922(dd) in the most recent 12-month period.

You have to have insurance.

“(1) IN GENERAL.—The Attorney General shall issue to any person who has applied for a license pursuant to subsection (c) and has paid to the Attorney General the fee specified in paragraph (2) of this subsection a policy that insures the person against liability for losses and damages resulting from the use of any firearm by the person during the 1-year period that begins with the date the policy is issued.

“(2) FEE.—The fee specified in this paragraph is $800.”

You will have to pay $800 to insure your guns, once a year, every year, or you lose your license.

“(6) EXPIRATION OF LICENSE.—A license issued to an individual under this subsection shall expire—

“(A) in the case of a license that has been in effect for less than 5 years, 1 year after issuance or renewal, as the case may be; or

“(B) in the case of a license that has been in effect for at least 5 years, 3 years after the most recent date the license is renewed.

Your license is only good for one to three years, depending on how long you had it, renewal means another eight hours of training.

“(3) It shall be unlawful for a person to loan a firearm or ammunition to another person unless the person has notified the Attorney General of the loan, including the identity of such other person and the period for which the loan is made.

“(4) It shall be unlawful for a person holding a valid license issued under section 932(c)(1) to transfer a firearm to an individual who has not attained 18 years of age.

There is no immediate family exemption.  You cannot take your kids shooting if they are under 18.  This is the deliberate murder of gun culture.

SEC. 3. PROHIBITION ON POSSESSION OF CERTAIN AMMUNITION.

(a) In General.—Section 922 of title 18, United States Code, as amended by section 2 of this Act, is amended by adding at the end the following:

“(dd) (1) It shall be unlawful for any person to possess ammunition that is 0.50 caliber or greater.

“(2) (A) It shall be unlawful for any person to possess a large capacity ammunition feeding device.

I assume that the “0.50 caliber or greater” is intended for 50 BMG, but it’s going to include 50 AE, 50 GI, 500 Alaskan, 500 S&W, a whole bunch of old black powder cartridges, etc.

No mags over 10 rounds, but you knew that already.

Biden said he was going to take your assault rifle away.  He meant it.

This is how they are going to do it.  They will make you register everything you own.  You will have to get another license for that assault rifle, which will be categorically denied.

Anyone interested in stealing guns will have a federal database to pick out all the best stuff and know exactly where it’s located.

I expect this bill to pass.

Allow me to introduce to you Broward County’s Markham Park.

Markham Park is a rarity in South Florida: it has a gun range that has up to 100 yards available! Stop snickering, down here is a big deal that we have a place at all. But beside the range, the place is gorgeous for jogging, biking, grilling, fishing, all the things you want to do in a park. It has an RC field for those with planes and other contraptions, an observatory and an RV park to boot.

Last week I went over there to zero a couple of guns. When I got almost to the entrance, I see an infernal line of vehicles trying to get in and the explanation :COVID vaccination.  after a few choice words, I turned around and went home.

Now, allow me to explain the choice words: I had checked their website and it said nothing about the vaccinations or anything else. I would have loved to have some sort of instructions on how to get to the range and avoid the craziness, but not a zip. I tried to call… nope. I emailed asking for help… bupkis.

And the I found out that they shut down the whole effing park. They shut down 669 acres of park to do the same job a supermarket chain is doing without having to close down the cereal aisle or any aisle whatsoever.

I fear the reason the park is shut is simply because the geniuses of the health department chose a big location with only one solitary entrance and exit and they simply got overwhelmed with the traffic which spills all the way to I-595. But DeSantis is evil because he manages to create several dozen vaccination locations per county that do not clash with common sense.

Oh well, that is the taxpayer’s money at waste

Minnesota’s Board of Peace Officer Standards and Training (POST) is considering better defining what type of “non-criminal” conduct or activities could possibly prohibit someone from serving in law enforcement, according to board leaders.
…
“There’s always a fine line between what an employee’s off-duty behavior is or groups associated with or things they say on social media, where does that cross the line into employment,” POST Board Executive Director Erik Misselt said.
…
State law enforcement oversight board taking closer look at standards for those who wear the badge

This was exactly what the Chavez government did to almost every police force in the country before absorbing them into the Policia Nacional Bolivariana. Of course, it was the Government who defined what positions and thoughts were contrary to the good order of the Nation which was pretty much anything that did no scream Socialism and it was applied to both new recruits and serving officers. Those who were smart and enough time, went for retirement just like a dear old friend of mine. The rest either were removed or were able to hide their true sentiments because they needed to have an income and provide for their families.

As you can imagine, a police force driven by the politics of socialism is quite lousy in dealing with crime, specially when they are used for political repression and the criminal element has been an ally of the government doing the dirty deeds for them. The result is that Venezuela was (and probably still is, but the gov is fully in control of the stats and lying) the second most violent country in the world.

And don’t believe that Minnesota will not investigate current-serving officers, specially combing through their social media just to make examples out of the “worst” cases and scare the rest. You would hope Police Unions would stand against it, but I believe they will be royally ignored. No cops? hell, their base will be ecstatic! 

Hat Tip Markc