Back to episode — Episode 1267 Scott Adams - Trump Presidential Library, Traveling With Restrictions, Fake News
Context —
just needs to be awesome. I would mostly look forward to how they named the restrooms, because I think Adam Schiff needs to be part of that. Or at least you know the new green new toilets have two buttons depending on what your business was. You got the little button for number one and big button for number two. Well I think the big button should be named Adam Schiff and the little button should b…
← Previous segment →ou. And you decide what's right and then act on it. That's all we're going to ask of you as citizens. You just decide what's right.
Now I don't know how that would turn out. Maybe that wouldn't work out. But I feel like that's where we should on this. Joe Biden should be asking people like me because I'm sort of out in the bubble. I'm not old enough that I can get into the shots but I could make an argument about comorbidity. I've got asthma so maybe I should be at the top of the line. But I wouldn't mind waiting because I can socially isolate better than most people. So special case. I'll wait a little bit.
All right. Just ask. So that's a direct request to Joe Biden. Just ask. Seriously, just ask. I think a lot of people would be willing to help out.
So I guess we have to talk about GameStop. And I guess I have a different opinion about this whole GameStop stuff. I'm watching it with the same level of entertainment you are. I also don't care if the billionaire hedge fund people lose some money. I don't know how that works for the people who invested with them. I feel as though there are ordinary investors who would get it in the shorts no matter what happens. But that's true of the stock market in general. So I watch it with amusement.
But here's what I'm not seeing that other people are seeing. That it's some kind of a, it's marking some kind of a shift or it's telling us something about the larger society or the little people versus the rich. I don't see any of that. I just see sort of a one-off thing that somebody discovered they could do. It grew in popularity. Of course part of that is the political climate and our history of the rich people getting richer, etc. But to me it doesn't feel like the beginning of some kind of giant shift in culture or change or anything. It just feels like a thing that happened. I don't see it having a large carryover.
Now as I saw in the comments apparently a lot of Chinese youth are getting into this as well. I would imagine that this will result in some kind of rule change because otherwise these large group of organized investors will destroy the market for gain because you could pretty much target any company and manipulate it in this way. And apparently it's legal. You know hedge funds are not that different. But I guess this only works as a legal process if not too many people do it. So that might be the long-term change, is that if the hedge funds have been doing it and now other people can organize to do it, there's too much of it. And if there's too much of it then maybe it has to be regulated away if there's some way to do that. I don't know if it's even practical. But so they might break this opportunity for the hedge funds. Maybe. We probably not.
So my best guess about where this all comes out is it just becomes a news story that fades away. Maybe there's a rule change that stops it later. But I see it more as a prank than anything else. And of course there are the sub stories about I guess the SEC said it was going to review how some of the brokerage firms acted when they stopped trading, which disadvantaged the little investor. So that has to be looked into. But it looks like the legal system or the government regulation system will look into it. So I don't know that there's as much there as other people are thinking.
It feels like t
Context —
his feels like the kind of story that's a story because Trump is no longer in office. You know something is going to fill the news cycle no matter what. You take out Trump and there's this giant empty spot that has to be filled. I don't know. This story isn't interesting to me but it's capturing the imagination. Who do you think would be the natural leader of the populist movement if let's say if…
Next segment → →