Friday, January 29, 2021

What is going on in the stock market and did anyone commit crimes?

So the story over the past few days have been about Reddit, Gamestop, hedge funds, and a company called Robinhood. The story is a bit confusing, convoluted, and hard to follow, possibly because it's hard to believe that it happened the way it did. For purposes of this discussion, we will concentrate on Gamestop stock (even though a few others were involved).

But to simplify it

  • A bunch of hedge funds short sold Gamestop stock, believing that the price would go down and they could buy it back cheaper. Gamestop was in trouble and many thought bankruptcy might be in the cards. While Gamestop was suffering, any massive sell off will also generally reduces the price, meaning that to some degree these hedge funds were manipulating the stock price in order to profit.
  • A bunch of individual investor got together on Reddit (the social media tool) and garnered a plan to buy the stock en masse that the hedge funds had sold, thus driving the price back up. The idea of course is quite simple. The hedge funds had already sold stocks that they didn't technically own (the definition of short sale), meaning they are required at some point to buy them back. 
  • To be fair, Gamestop had also garnered some additional financing to keep themselves temporarily viable. But the increase in stock price was (again) as much in part because of the large amounts of buying and the massive need for the hedge funds to sell quickly, as it was because of good financial news.
  • As the price went up (rather than down) these hedge funds were losing money on a massive scale because they had short sold on a massive scale (estimates were that they literally short sold more shares than existed). Eventually many stock trading companies (such as Robinhood) suspended the ability to buy or sell Gamestop, thus preventing the hedge funds from losing even more money than they already had.
At the end of the day, the hedge funds were probably manipulating the market a bit and may or may not have technically broken any laws.  Meanwhile, the people who got together on Reddit were also manipulative, but technically did nothing illegal either. They just decided to buy this particular stock after some good financial news, while also taking advantage of the fact that so many shares had been short sold. The most questionable action in all of this probably comes from Robinhood and other trading services who suspended trading on Gamestop, which appears to have been done "solely" to protect the hedge funds. Many question what authority they had to make such a call?

Who really knows if any one did anything illegal here. We may or may not see charges or anything else come from this. But it does expose some problems with how easy it is to manipulate stocks and cause people to gain or lose massive amounts of money in a very short period of time.

95 comments:

Caliphate4vr said...

I can send you a screen shot of my son’s Robinhood account from yesterday, it blocked him from buying AMC he could only sell.

rrb said...


El Presidente Portnoy had an excellent rant on this yesterday on twitter.

everything was done to fuck the individual investor and protect the hedge fund scumbags, and i'll bet that slow joe's henchmen are in on it.


Anonymous said...
This comment has been removed by the author.
Anonymous said...

Unilateral Biden, put to rest his b.s. of Unity.
Joe defined his "unity" it is when his party get no Republican votes and the Socialst Democrats ram rod legisilation.

Anonymous said...

Pelosi put $1 million dollars into Testla as she pushes for EV's bought with US Tax dollars.

Anonymous said...

Unilateral Joe Biden .
Death of the BIG Lie of "unity".
"Unity also is trying to get, at a minimum — if you pass a piece of legislation that breaks down on party lines but it gets passed, it doesn't mean there wasn't unity; it just means it wasn't bipartisan."

Coldheartedtruth Teller said...

U.S. household income rose for the first time in three months in December as a new round of government-aid efforts kicked in, priming the economy for stronger growth this year once the pandemic recedes and businesses fully reopen.

Household income—what families received from wages, investment returns and government-aid programs—climbed 0.6% from the prior month, the Commerce Department said Friday.

The rise partly reflected federal-aid programs, such as enhanced unemployment benefits, that kicked in at the end of the year. Income is expected to rise further this quarter as the government distributes federal stimulus checks of $600 to most households.

Commander-in-Thief Biden said...


This has exposed many things wrong including Biden's Secretary of Treasury who has received millions from wall street tycoons (like Hillary and Joe and Barack have, and also to include foreign governments and companies) for "speaking fees" in other words legal bribes to be part of the "club"

I would say these are the reforms that are needed:

Re-instate the uptick rule. This was eliminated with decimalization of securities and allows for piling on when stocks are going straight down and can create downward spikes by itself with a large short transaction. This rule was created after the stock market crash of 29 and required that short transactions could only be performed against stock offered at higher than the last trade price.

Force brokerages to allocate short positions to actual shares they own in custodial accounts. The shorts outstanding then would never exceed outstanding shares.

Go to a next day clearance. Currently you only need to provide shares to satisfy a trade in 3 days.

Change the tax law to mark-to-market at year-end all short positions. Currently shorts of companies that go bankrupt never have to "buy back" their shares and hence no taxable transaction and no tax due. I think the same should be done for estates (who receive a stepped up basis to the survivors without a tax consequence) and even think people like Buffet and Gates and Soros who never pay taxes on largely appreciated stock should face the same. Maybe not annually but perhaps something like securities owned over 5 years, every 5 years.

And the people who changed the rules yesterday to tilt the scales yesterday should face severe consequences, even if they are Yellen's buddies.

I'm sure the left will try and hide their cozy relationships with Wall Street billionaires

C.H. Truth said...

I can send you a screen shot of my son’s Robinhood account from yesterday, it blocked him from buying AMC he could only sell.

That's even worse than just cutting off the trading (which is what is largely being reported).

Caliphate4vr said...

Just sent

Coldheartedtruth Teller said...

The Wall Street Journal has an interesting article.

GameStop and AMC Soar as Robinhood Restarts Trades

Shares of GameStop and AMC recovered sharply, after popular online brokerage Robinhood Markets said it would reinstate some trading in shares and options that it curbed on Thursday.

Many other hot stocks for day traders, including BlackBerry and Koss, have been up—some way up.

Meet the trader on Reddit's popular WallStreetBets forum driving this week's craziness. And see why short seller Andrew Left—who was threatened by day traders following a bet against GameStop—is no longer going to publish short-selling reports.

Meanwhile, Robinhood raised $1 billion to meet surging cash demands. And the SEC said it is reviewing actions by brokerages to restrict trading in hot stocks on Thursday and monitoring the volatility.

The broader market is struggling again, with major indexes edging lower. Traders say the pressure on investors who shorted stocks is forcing them to sell long positions.

There are lots of stories to catch up on that break down the latest moves as a "Nerds vs. Wall Street" battle plays out in markets. Some highlights:

Robinhood opened up some trading in 13 highly active stocks after coming under pressure for placing curbs on them.The man who created Reddit’s WallStreetBets isn’t who you think he is.Hedge funds on Wall Street are feeling the heat from the GameStop mania.Real world effects: AMC investor Silver Lake Group converted $600 million of debt into equity after the cinema chain's shares rocketed.Speaking of silver, the metal is surging, as are a bunch of silver miner stocks, as Reddit day traders take a shine to the commodity.Retail trading platforms on popular brokerages struggled with outages as individual investors piled into hot stocks.Here's a look at how the moves represent a power shift on Wall Street, as well as stories on options driving the boom, professional short sellers facing threats and a column on how the gains represent a bubble.

rrb said...



U.S. household income rose for the first time in three months in December as a new round of government-aid efforts kicked in


get used to this, alky.

the only way the left can EVER increase household income is with direct bribes from Uncle Sugar.

put everyone on the public dole and make everyone a ward of the state.

whee!



Coldheartedtruth Teller said...

I don't see any problems.

People figure out how to make a profit by manipulation, it doesn't look illegal.

Coldheartedtruth Teller said...

https://www.wsj.com/articles/consumer-spending-personal-income-coronavirus-december-2020-11611873351

Coldheartedtruth Teller said...

https://www.wsj.com/articles/consumer-spending-personal-income-coronavirus-december-2020-11611873351


You think the Wall Street Journal is making everyone dependent upon the people who make billions.

Anonymous said...

Roger , your opinion on short selling is funny, I recall you telling us how it "wirks" during the "Twtter Tread".

No wonder you got fleeced out of Lydia's
life savings.

Coldheartedtruth Teller said...

When the economy starts moving upward, the stocks will get higher too.

The Obama recovery plan worked but not enough.

I'm optimistic about the President Biden plans. $1.9 trillion will be passed by using the emolument bill, passed by Nixon in 74.

It doesn't need 60 votes.

rrb said...

Robinhood Is the Facebook of Investing. You're the Data, Not the Customer


The app at the center of the GameStop stock controversy has to take care of its customers. It's just not always clear who that is.

[..]

You don't pay anything to Robinhood to use its service, someone else does. It turns out, that makes all the difference in how the company treats you.

See, Robinhood doesn't charge a commission for trades. That's not terribly unusual, just like free social media platforms and digital services aren't unusual. However, executing trades is something that requires infrastructure, systems, and people. The fact that you have access to all of that, without paying for trades, is one of the reasons apps like Robinhood became so popular among ordinary retail investors who want to try their hand at buying and selling stocks.

But those investors aren't Robinhood's customers. Instead, the company sells its order flow, or information about the transactions of its customers, to third parties. Those third parties are the ones who execute the trades, but they also get access to the data.

https://www.inc.com/jason-aten/robinhood-is-facebook-of-investing-youre-data-not-customer.html


Robin Hood is selling order flow data to the hedge funds.

THAT'S the fucking problem and THAT'S what should be illegal.

personally I would love to be at a poker table in Vegas where I could pay to see everyone else's cards.

I not surprised you see nothing illegal here alky. you're so fucking far out of your depth on this topic it's not even funny.






Coldheartedtruth Teller said...

Scott agreed with me Jimmy Hitler Sr

Anonymous said...

"stocks will get higher too"
Alky Stupid ® RRB

Caliphate4vr said...

They are calling themselves the autists of reddit

It’s getting hilarious with these college kids claiming they are getting the hedgefunds back for 08

https://www.reddit.com/r/wallstreetbets/comments/l7tc3u/gme_battle_speech_from_the_movie_bravehands_2021/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

rrb said...


LOL. this fucking twat...

Circle Back Better


https://youtu.be/T71Y-Ky9cOo

Caliphate4vr said...

DeepFuckingValue is still in and has a message for you. Do you want to go out with a whimper or ride with the Valkyries to Valhalla 🚀🚀🚀?

This Reddit group is on fire

rrb said...



LOL.

"Jimmy Hitler Sr"

from the guy who got fleeced by a Nigerian prince via email and lost Lydia's nest egg, and THEN was so enraged he beat the living shit out of her.

LOL.

Commander-in-Thief Biden said...

rrb said...

LOL. this fucking twat...

Circle Back Better


https://youtu.be/T71Y-Ky9cOo



Biden has a spokesperson who doesn't have a clue.

She was asked about one of Biden's very consequential EO's allowing China back into our electrical grid and she didn't have an answer other than circle back.

She still hasn't a week later...

Banana Republic

anonymous said...

has a spokesperson who doesn't have a c

You mean like the fat cunt hucklebee??????

Coldheartedtruth Teller said...

Local party organizations are supporting Trump’s insurrection efforts in state after state, from Wyoming to Arizona.

The GOP appears more eager for retribution against Republicans who upheld their oaths of office than against a president who violated it. All 10 of the House Republicans who voted to impeach Trump are now facing a backlash at home, with local party organizations scolding them for disloyalty and primary challengers lining up against them. Pro-Trump House members are  also demanding Cheney’s ouster as chair of the House Republican conference.

The cancer cuts down to the bone. It isn’t just Trump, but a culture of Republican-abetted sedition that needs to be presented to the American people on Feb. 8. Call some witnesses from those state legislatures who met with Trump as he hemmed, hawed and threatened them. Call Hawley as a witness and obtain all his contacts and communications with the administration before the insurrection. Same with Cruz. There’s no privilege attached, not when you’re trying to commit a crime, boys.

Americans really need to see the big picture.  Let’s give it to them. And let Hawley and Cruz—and Trump—squeal their seditious little asses off.

Commander-in-Thief Biden said...

Pete Snyder
https://twitter.com/petesnyder/status/1355187785154617347


Billionaires + @RobinhoodApp made it clear yesterday that they don’t mind rigging the system to protect their pocketbooks.

That is not a free market, and that isn’t what America stands for. This is Wall Street elites robbing hardworking Americans.


Biden's America

Commander-in-Thief Biden said...

Melissa
https://twitter.com/TheRightMelissa/status/1355186180380352512


Google has deleted over 100k negative reviews off Robinhood app in their store.

Once again corrupt Big Tech silencing the people to protect the rigged system.

The corrupt media nor the corrupt politicians will ever call them out for this fraud & censorship


Bidens America 1984

rrb said...



https://www.washingtonpost.com/opinions/2021/01/25/trump-impeachment-trial-republicans-senate/


stealing from little boy in funny hat - Max Boot alky?

BWAAAAAAAAAAAAAAAAAAAAAAAAAAA!!!*

*hat tip - BWAA

Coldheartedtruth Teller said...

Hitler died 30 April 45. Trump born June 46. A possible reincarnation?

Coincidence????

Anonymous said...

The "Circle Jerk " Ginger is too funny.

Coldheartedtruth Teller said...

https://m.dailykos.com/stories/2021/1/26/2012065/-Now-that-we-know-Republicans-won-t-convict-turn-it-into-a-trial-of-the-Republican-Party

Myballs said...

FDR died 12 April 45. Trump born June 46. A possible reincarnation?

Coincidence????

You stupidass.

Coldheartedtruth Teller said...

https://m.dailykos.com/stories/2021/1/26/2012065/-Now-that-we-know-Republicans-won-t-convict-turn-it-into-a-trial-of-the-Republican-Party

Coldheartedtruth Teller said...

FDR wasn't a fascist. He saved the world from Communism and Adolf Hitler.

Stupid troll

Coldheartedtruth Teller said...

Trump is a fascist

Coldheartedtruth Teller said...

It's a joke. You are the dumbest Master's degree person I have ever met

Commander-in-Thief Biden said...

Charles V Payne
https://twitter.com/cvpayne/status/1354809177248387089


The stock market is not in turmoil - billionaire hedge funds are in turmoil.

Two different things. Its a shame regulators, brokerage firms and media continue to provide cover for folks that go to work on helicopters from the Hamptons and say its for folks that take the subway.


Joe Biden's America

Myballs said...

The fascists today are all in or supporting the democrat party. Forcible suppression of opposing views? Biden ruling by executive fiat.

So shove it you ignorant prick.

Commander-in-Thief Biden said...

Jessica Grace Rose
https://twitter.com/IsicaLynn/status/1354894529208348673


Janet Yellen accepted $810,000 in speaking fees from Citadel, owner of Robinhood.

Reporter: Are there any plans to recuse herself from advising the President on GameStop and Robinhood situation?

Psaki: ‘No and she’s an expert and deserves that money.’


well at least she didn't need to "circle back", that's getting real old already.

Joe Biden's America

rrb said...


Blogger Roger Amick said...

FDR wasn't a fascist. He saved the world from Communism and Adolf Hitler.



he only locked tens of thousands of Japanese-Americans in fucking CAGES.

no, no fascist. not at all.

Commander-in-Thief Biden said...

Raheem Kassam
https://twitter.com/RaheemKassam/status/1354876782697197579

Jen Psaki claims Biden’s dictatorial executive order binge is legitimate because the White House has seen polling that people like it... seriously.

FAKE NEWS
controls FAKE POLLS
enemy of the people

Joe Biden's America = true fascism

Coldheartedtruth Teller said...

Private companies have the authority to choose what they want to broadcast and from whom they want to broadcast.

You are almost as stupid as kputz.

Myballs said...

I guess Roger is done with stupid reincarnation posts

Commander-in-Thief Biden said...

Jack Posobiec
https://twitter.com/JackPosobiec/status/1354815687324098564


There used to be this guy on Twitter who tried to warn us the system was rigged

1984

rrb said...


Peter Strzok’s wife has been promoted to Director of the Division of Enforcement at the SEC


Press Release

Melissa Hodgman Named Acting Director of Division of Enforcement

FOR IMMEDIATE RELEASE
2021-15

Washington D.C., Jan. 22, 2021 —

The Securities and Exchange Commission today announced Melissa R. Hodgman, currently an Associate Director in the Commission's Division of Enforcement, has been named Acting Director of the Division of Enforcement.


https://www.sec.gov/news/press-release/2021-15


Anonymous said...

Biden/Schumer/Pelosi bill

$15.00 Federal Minimum wage
Killing Small business is their Socialist goal.

Coldheartedtruth Teller said...

That's a fact, I think it was racist. He grew up when people called Asians as slant eyed people who were talking jobs from white people who built their railroad tracks across the western United states .

Nobody is perfect but he was the greatest President of the 20th century

Commander-in-Thief Biden said...

Mark Hemingway
https://twitter.com/Heminator/status/1355208861905547264

An FBI lawyer lied on a FISA application to spy on a private citizen for political reasons and he gets... PROBATION?!

An absolute outrage.


Techno Fog
@Techno_Fog



While his targets needed to get pardons or go to jail or went to jail.

Joe Biden's fascist America

Commander-in-Thief Biden said...

Techno Fog
@Techno_Fog

Disgraced FBI lawyer Kevin Clinesmith has been sentenced to PROBATION.

Alter a CIA email, lie to your FBI supervisor, cause the FBI/DOJ to lie to the FISA Court: PROBATION!

Message of today: we live in a clown world.

Coldheartedtruth Teller said...

If every company pays the same minimum wage, it will not destroy the small business dumbshit

Anonymous said...

The selling of the Vice Hoes Office.
"ice President Kamala Harris' stepdaughter Ella Emhoff, whose fashion choices went viral during last week's US presidential inauguration, has signed with a major modeling agency"

Coldheartedtruth Teller said...

The minimum wage is $7.25 per hour.

I was making more than that in 1978

rrb said...




Biden climate plan aims to put U.S. on path to 'net-zero economy'


https://www.upi.com/Top_News/US/2021/01/27/Biden-climate-plan-aims-to-put-US-on-path-to-net-zero-economy/7951611761113/

Commander-in-Thief Biden said...



Peter Strzok’s wife has been promoted to Director of the Division of Enforcement at the SEC

YOU HAVE TO BE FUCKING KIDDING ME

Joe Bidens America

Banana Republic

Anonymous said...

Roger, do tell, how many businesses have you owned. and Where did you get your Masters in Business?

Thanks for your up coming honest detailed answer.

Coldheartedtruth Teller said...

Trump's children made millions during his tenure in the White House

rrb said...

Blogger Roger Amick said...

If every company pays the same minimum wage, it will not destroy the small business dumbshit



from an economic standpoint this might just be the dumbest fucking comment you've made here EVER.

Anonymous said...

Really, Alky, tell us exactly how?

Again, thank you in advance for your well cited response.

Coldheartedtruth Teller said...

McDonnell's wife was in the cabinet.


Banana Republic asshole

Anonymous said...

"from an economic standpoint this might just be the dumbest fucking comment you've made here EVER."

Roger, says hold his 🍺.

Commander-in-Thief Biden said...

Roger Amick said...
Trump's children made millions during his tenure in the White House


They worked and paid taxes.

Hunter make tens of millions and flowed some of it back up to "the big guy" while travelling on Air Force 2.

He's under investigation bu the FBI and IRS.

Now that the big guy is in charge we know how that will end.

Joe Bide's America

Let them eat cake

Anonymous said...

2080 x$15 = 31 k

How will that wage effect the cost of goods and services , Roger?

Anonymous said...

Who?
🍺McDonnell's wife was in the cabinet.🍺

rrb said...



hating the JOOS is a core democrat "value."


Maher Bitar, one of the executive board members of Students for Justice in Palestine, was one of the principal organizers of the 2006 conference which was being hosted by Georgetown University's SJP hate group. A photo appears to show him dancing in a keffiyah in front of a banner reading, “Divest from Israel Apartheid”.

Despite protests from Jewish groups, the Georgetown BDS conference went ahead

Now, Biden has picked Maher Bitar as the Senior Director for Intelligence on the NSC.


http://www.danielgreenfield.org/2021/01/biden-appoints-anti-israel-bds-activist.html

Caliphate4vr said...

Blogger Roger Amick said...
If every company pays the same minimum wage, it will not destroy the small business dumbshit


Dumbest fucking thing you’ll read today

Commander-in-Thief Biden said...

Roger Amick said...
McDonnell's wife was in the cabinet.


The one from China who was in trouble for drug smuggling and gifted the McConnell's 25 million giving him the nickname Cocaine Mitch ???


btw McDonnell's ??? You are way more than a few fries short of a happy meal

Though you do write at an age appropriate level.

ROFLMFAO !!!

Caliphate4vr said...

The minimum wage is $7.25 per hour.

I was making more than that in 1978


You weren’t in high school flipping you economically illiterate old man

Coldheartedtruth Teller said...

As minimum wages rise and big businesses offer employees more money, how can SMBs compete?

29 states plus Washington, D.C., have a higher minimum wage than the federal minimum.42 cities have minimum wage rates that exceed their states' minimums.Researchers say raising the minimum wage doesn't kill small businesses or reduce job opportunities.

If you compared the paychecks of workers from 1969 with the paychecks of 2019, you could be forgiven for thinking that the average employee makes much more money today. However, for decades, the purchasing power of the average American worker has been largely stagnant.
 

Wage increases give millions of people, more money to spend on goods and services.

The right wing philosophy is trickle down economy. It has given the top one percent a much higher percentage of the GDP .

It will not trigger inflation. History shows that it is fake news robotics

Commander-in-Thief Biden said...

(The one from China who was in trouble)

meant father-in-law

Coldheartedtruth Teller said...

https://www.businessnewsdaily.com/8984-increased-minimum-wage.html

Caliphate4vr said...

And puts millions more our of jobs, you idiot

Coldheartedtruth Teller said...

In 1978 I was working as a union carpenter building an 8 story building in Rapid City South Dakota.


Commander-in-Thief Biden said...

Sebastian Gorka DrG

://twitter.com/SebGorka/status/1355174741976473604


Ella Emhoff is Kamala Harris’ 22 year old step daughter.

8 days after the Inauguration she suddenly lands a modeling contract with IMG Models.



A real beaut

What a fucking dishonest clown world we live in.

Defended by the wife-beater with either a 45 IQ or dementia

Joe Biden's America

Anonymous said...

Roger, when Biden signs the Bill.
When does the $15 min wage become law?

Commander-in-Thief Biden said...


She does have a tattoo of a cow on her arm...

Coldheartedtruth Teller said...

Your ignorance is apparent in everything you say.

They will have more money to spend on goods and services.

History proves your ignorance.

Anonymous said...

Let us be kind to the Alky.
And take more time to educate him.

$15 min wage .
"The Congressional Budget Office estimated it could lead to the loss of 1.3 million jobs.

Coldheartedtruth Teller said...

The Biden recovery bill will probably pass in the next month

Commander-in-Thief Biden said...

Richard Grenell
https://twitter.com/RichardGrenell/status/1355168399345602566


The entire Intelligence Community agreed and issued a very rare statement on Covid 19 last year. Anyone denying this fact is spreading fake news and manipulating intelligence for political gain. Read it in full.

“...Covid 19, which originated in China.”

https://dni.gov/index.php/newsroom/press-releases/item/2112-intelligence-community-statement-on-origins-of-covid-19


Joe Biden signed an EO not allowing people to call it the China virus. Somehow he is still allowing it's evolving strains to be called from where the originate from.

His spokesperson is probably still circling around about that

But Biden's Chinese masters will be happy.

And Hunter will be able to afford some more drugs, probably from China.

Anonymous said...

Really, um , marginally.

"They will have more money to spend on goods and services."

Those goods and services will rise.

rrb said...


alky, unless you've actually signed THE FRONT of a paycheck like I have, you are completely unqualified to comment on this topic.




30 Years of Research Rebut Biden’s Minimum-Wage Agenda

New study shows wage hike will kill jobs


Democrats' plan to hike the minimum wage would cost American jobs, a new review of decades of studies finds.

The analysis, published Monday by the National Bureau of Economic Research, combed through academic literature on the minimum wage and determined that nearly 80 percent of studies conducted since 1992 have found that an increased minimum wage leads to a decrease in the level of employment.

The effect, study authors David Neumark of U.C Irvine and Peter Shirley of the West Virginia state legislature find, is most pronounced for teens and young adults, particularly for the less-educated—meaning that these groups are most likely to be pushed out of the labor market by a hike in the minimum wage.

[...]

In an attempt to cut through this dispute, the pair summarize what they identify as the central findings of some 30 years of papers, stretching back to the pioneering work done by Berkeley economist David Card, one of the first economists to use modern methods to study the effects of the minimum wage on employment and wages.

The results of Neumark and Shirley's survey are not rosy for minimum-wage advocates. They find that some 80 percent of results are negative, with roughly half being both negative and statistically significant. Most of the studies that find large, positive effects of the minimum wage on unemployment are from the early part of the period surveyed, suggesting that they may be using less accurate data or less effective methodology.

The effects are particularly pronounced for teenagers, for whom just one study indicates a significant increase in employment, compared with 18 that find a negative and significant effect. This observation is particularly significant given recent research evidence that finds that minimum-wage increases can lead to an increase in property crime, as young and marginally skilled people are pushed out of the labor market and instead commit crimes to get by.

The new review may prove problematic for Democrats, who this week have begun a push to pass a $15 federal minimum wage into law, with newly installed Senate Budget chairman Bernie Sanders (I., Vt.) leading the charge. That could cost anywhere from 1.5 million to 3.7 million jobs, according to an estimate published by the nonpartisan Congressional Budget Office last year.


https://www.nber.org/papers/w28388

https://freebeacon.com/policy/30-years-of-research-rebut-bidens-minimum-wage-agenda/

Anonymous said...

YES, like I have as well.
"rrbJanuary 29, 2021 at 12:41 PM


alky, unless you've actually signed THE FRONT of a paycheck like I have, you are completely unqualified to comment on this topic."

Caliphate4vr said...

From the CBO you drunken sot

But 1.3 million other workers would become jobless, according to CBO’s median estimate. There is a two- thirds chance that the change in employment would be between about zero and a decrease of 3.7 million workers. The number of people with annual income below the poverty threshold in 2025 would fall by 1.3 million.

Anonymous said...

The thing we know about Rodger Is that he never gets an economic Issue correct

rrb said...



They will have more money to spend on goods and services.


not when they've been replaced with an interactive kiosk, they won't.

every single fucking time the topic of the minimum wage comes under scrutiny in DC, the business community springs into action to get ahead of it and utilize technology to REDUCE their headcount.

rrb said...



But 1.3 million other workers would become jobless, according to CBO’s median estimate.


this is a feature, not a bug.

the more folks democrats can make completely dependent upon government, the more they burrow in and secure their power.

rrb said...



Those goods and services will rise.


the alky is so FUCKING STUPID on this topic, he can't comprehend that if the cost of labor goes UP, all the corresponding costs rise with it.

very basic example - a $2 hamburger at $5/hourr theoretically goes to $6 at $15/hour.

alky thinks prices remain static as the cost of labor RISES.

what a FUCKING MORON.



Caliphate4vr said...

alky thinks prices remain static as the cost of labor RISES.

The magic money tree, in the valley of unicorns

rrb said...


The magic money tree, in the valley of unicorns


and fertilized with fairy dust.

LOL.

even the lady who knitted Bernie's mittens gave up on making it a side hack business because the TAXES were fucking killing her.

that the most basic cause and effect connections in life escape these folks is part of what has convinced me that liberalism is a mental illness.


Anonymous said...

Roger, where did you go.
I really wanted to read more of your financial/economic wisdom.....

Myballs said...

I've been bitch slapping Roger on economic issues for nearly 20 years.

anonymous said...


Anonymous Myballs said...
I've been bitch slapping Roger on economic issues of


BWAAAAAAAAAAA!!!!!! In your dreams loser!!!!!!! As you all supported trumps negative 3.5% growth as being great, me thinks you are as delusional as the goat fucker!!!!!!!

anonymous said...

https://finance.yahoo.com/news/us-economy-shrank-3-5-154846213.html