Archive for 2021
January 28, 2021
YOU CAN’T TRUST TECH: Robinhood blocks purchase of GameStop, AMC, and BlackBerry stock. “The company is citing ‘recent volatility’ in the market as the reasoning behind the change.”
In the words of George Carlin, it’s a big club and you ain’t in it. But this is especially awkward for Robinhood, which is acting like a Deputy Sheriff of Nottingham. I assume its status as a cool brand for millennials and Gen Z will take a major hit.
UPDATE: I’m seeing a lot of FB friends who I’m sure voted for Biden talking about how rigged and corrupt the system is as their trades on Robinhood and similar platforms are blocked. This is likely to make the “great reset” a lot more difficult. Also, if a lot of retail investors get the idea that the market is rigged against them — because, you know, they see it happening — that’s going to be a long-term drag on the markets, and on the many people who make their money, one way or another, off of retail investors. As always, of course, the people running the institutions put short-term selfishness ahead of long-term institional health.
IT IS TIME FOR AMERICAN IMPATIENCE WITH CHINA: But of course the Biden Administration has chosen “strategic patience.”
On cue, White House press secretary Jen Psaki has signaled that President Joe Biden’s administration is not prepared to seriously confront the complex and immediate threat communist China poses to American security and world peace.
Read the whole thing.
AS FORETOLD BY THE PROPHECIES AND THE ENTIRE RIGHT-LEANING BLOGOSPHERE: Media May Ignore It, but Biden Presidency Is Already Radical. “The goal for the establishment media isn’t to point out merely that Biden is a sort of American Everyman. It’s to use that supposed normalcy to disguise the fact that his agenda is absolutely abnormal.”
Well, it’s certainly un- and even anti-American, which is nothing new for the Left — only the scale of it under Biden.
STACY MCCAIN: GameStop: The Best Story EVER! Plus:
Not kidding here. Liberals are actually claiming that “Trumpism” is what has caused the GameStop bonanza. The hedge funds got screwed over by “white supremacists,” some liberals are arguing on Twitter.
What does this claim imply? It implies that any challenge to the status quo is illegitimate, that it’s “hate speech” or “terrorism” any time you do something or say something that disrupts the ordinary process by which rich people get richer and powerful people exercise power.
Pretty much. The reaction to GameStop is the most telling aspect of the whole thing.
The way the establishment works is, they win, you lose. Then they say well, that’s just the rules, better luck next time! Then if you actually have better luck next time, they change the rules. Then they tell you the rules are the price we pay for civilization.
MICHAEL BARONE: Biden’s United States of Racial Quotas and Preferences.
THE CHIEF JUSTICE PRESIDES WHEN YOU’RE IMPEACHING A PRESIDENT. YOU’RE NOT IMPEACHING A PRESIDENT, BUT A PRIVATE CITIZEN, WHICH IS ILLEGAL. Senate Dems Wonder: Say, Where Is John Roberts In This Impeachment Trial, Anyway?
Plus: Trump Poll Shows Impeachment Backlash Hitting Cheney.
Endorsing an unfounded and unconstitutional political impeachment is a bad look.
RETURN TO NORMALCY? Biden sparks new immigration surge, many with coronavirus.
Meanwhile he’s adding coronavirus travel restrictions on non-illegals coming to America.
LARRY ELDER: Democrats Want a ‘Return to Civility’; When Did They Practice It?
Larry has the receipts — read the whole thing.
KRUISER’S MORNING BRIEF: Sycophant Press Can’t Cover for Biden’s Opening Train Wreck. “We’re soon going to need NASA computers to track the number of executive orders issuing forth from the puppet president. It’s no big secret that conservative folks like me aren’t thrilled with any of them. It would seem, however, that Biden may be doing some bipartisan stepping on of the toes.”
MEGYN KELLY: Trump Supporter? “Megyn Kelly came to The Donald’s defense on Saturday in an interview on BBC. She said the media’s hatred of President Trump bears some responsibility for the storming of the Capitol, in which the congressional police force shot and killed an unarmed protester. She told BBC that she has come around on how Donald Trump and his supporters view the media.”
ANALYSIS: TRUE. The GameStop Squeeze Will End Badly. “Even with all this money sloshing around from the Fed, and the way it is propping up Boomer retirement accounts — it really feels like a silly season just before a correction. But what do I know?”
MY WEEK BACKING GAMESTOP ON THE STONKS MARKET:
The next day I went straight back in, and since then, the price has quadrupled. It just keeps going up, fueled by hype and the Redditors’ refusal to sell. Yesterday Elon Musk tweeted his support, throwing a lot more fuel on the fire. Already one hedge fund has thrown in the towel, nursing a huge loss. The whole trend has now spread to other stocks which have been shorted.
On WallStreetBets, talk is turning to exit strategies. At some point, they are going to cash in, and when they do, the whole thing will come crashing down. Given the huge gains, it’s amazing none of them have done it already. It makes you wonder: is this really just about greed? Maybe it’s more about the lolz.
And don’t you dare LOL over this story, shouts the Dow Jones-owned MarketWatch: Opinion: Stop laughing about GameStop’s stock mania — no, really.
UPDATE (FROM GLENN): CNBC Guest SCORCHES Anchor for Siding With Wall Street Over the Little Guy in Epic Clash Over GameStop’s Meteoric Rise.
GOOD: Intel’s Incoming CEO Gelsinger Lures Back Engineering Talent.
Sunil Shenoy will rejoin Intel as senior vice president of the Design Engineering group effective Feb. 1, the Santa Clara, California-based company said in a statement Wednesday. When he left in 2014, Shenoy was head of Intel’s platform engineering group, a narrower role to the one he’s assuming now.
Glenn Hinton, a former Intel Senior Fellow who led the development of a key chip design, also returned to the company recently in a senior engineering role. Shenoy and Hinton will report to outgoing CEO Bob Swan until the middle of February, and then to Gelsinger who officially rejoins Intel on Feb. 15.
Gelsinger, who previously spent 30 years at Intel, said he’s bringing back the style of management he learned from the founders, notably Andy Grove. Before Swan, Intel had always been run by home-grown executives who were adherents to Grove’s data-driven decision making and direct, sometimes confrontational, internal communication aimed at ensuring problems were never buried.
Intel’s fabrication prowess was half of its secret sauce, but in the last few years the company’s fabs have fallen a generation or more behind Taiwan Semi.
While it’s nice that TSMC is building a new fab in Arizona, for competitive and national security reasons it’s vital that Intel get its mojo back.
And if that sounds paranoid, well… only the paranoid survive.
REALLY, MITT? REALLY? “You know what, I was a big Trump supporter, I was really pulling for Donald Trump, but he lost fair and square.”
Plus: “I’m not seeing the whole transcript, but to really lean into the demonstration of honesty, Romney should acknowledge the dismissals that were for a lack of standing. I’d like to see him engage with what Rand Paul said last Sunday. . . I agree that the time for contesting the election has passed, but I don’t think the way Romney is speaking will convince Trump supporters to give up their belief that something went wrong. Telling them the courts found it laughable, and they should give up and move on is going to make true believers more suspicious. And I’m sure they don’t buy the assertion that Romney was ever ‘a big Trump supporter.'”
Well, that’s because it’s laughably false.
UPDATE: Major correction here. Ann Althouse adds:
ADDED: A reader points out that I probably misinterpreted the quote in what I now can see is an ambiguously written line in the news article:
Romney said elected Republicans need to go on Fox News and say, “You know what, I was a big Trump supporter, I was really pulling for Donald Trump, but he lost fair and square.”
He’s telling other people what they ought to say, not using the word “I” to refer himself.
Yes, that’s very different.
ENTERING THE BOX CANYON: Democratic Senators Recognizing Impeachment Is a Fairy Tale Seek Other Options.
And from Roger Kimball: Impeachment 2.0 is another silly sham.
BURSTING THE MEDIA’S BUBBLE:

D*MN IT BEE! Political Violence and the Second Amendment.
THERE IS THE REASON WE HAVE THE RIGHT TO BEAR ARMS: Political Violence and the Second Amendment.
It ain’t just for the hunting.
IT’S ALSO WRONG FOR THE LEFT TO ATTEMPT TO BE HITLER: Yes, It Is Wrong To Compare Trump To Hitler.