Shorter’s Caught Short

Over the years so-called Hedge Funds have made countless billions by shorting shares on the stock market (i.e. having an arrangement to sell shares they don’t own, then later closing the deal by buying the shares, when the price has slumped). Recently Hedge Funds put their teeth into a US company, Gamestop, a videogame retailer. But, via social media, a large group of private investors got together to teach the ‘shorters’ a lesson. They forced the price up a gigantic amount. The Hedge Funds then had to close their deals!! It is estimated that the ‘shorters’ lost some $19.5 billion. Surprise surprise, the Hedge Funds then went sobbing to the Securities and Exchange Commission to lodge a complaint.

P.S. “People on Wall Street only care about the rules when they’re the ones getting hurt.” – Democrat Senator Sherrod Brown.

P.P.S. A student in Bristol (UK) bought 230 shares in Gamestop at $39 a share. Three weeks later he was sitting on some $75,000

P.P.P.S. The first Hedge Fund was set up in 1949 by a former Marxist

Spotlight on “Experts”

According to Rod Bickerstaffe, former General Secretary NUPE/ Unison “JC” is an unknown quantity and “spurt” is a drip under pressure.

Now, this is what Irving Fisher, one of the most eminent economists wrote in 1929 – “Stock prices have reached what looks like a permanently hight plateau”. Just nine days later the Wall Street Crash occurred. So Rod may have been on to something!

Tribune Spells it Out

“Sir Keir Starmer and his team have decided that Labour’s path to power lies in appealint to the right-wing press, big business (whose donors they are inviting back) and the political establishment. Socialists have to be marginalised – and publicly so.” [Tribune Editorial]