1st off if you don't know, Jim Cramer is the biggest paid financial shill for Wallstreet. His job is to get dumb money to invest in dumb things. His track record is soooo bad there's no other expiation. You can actually do well on stocks and beat the market by doing the opposite of what he says.
CNBC just used 30 minutes of time that was scheduled to be part of a normal hour of Shark Tank.
Every day at 5 PM Pacific the news on CNBC ends and Shark Tank begins. This Monday was no different, except the stock market saw the NASDAQ take a -4%+ drop and DOW take a -3%+ drop only to recover, and like another post on this sub pointed out, that’s the most significant drop and recovery in a trading day since October of 2008. Eesh.
So why does Shark Tank matter? Shark Tank is a ratings monster. There’s a reason it is first up in prime time every single day on CNBC. There’s a reason I watch it every day other than just wishing I could make a bunch of fucking money for some other reason besides just all the money I plan to make on GME (so I could then throw it all into GME and make more). But besides all that, it would take a lot for CNBC to just skip over 30 minutes of Shark Tank. They wouldn’t give up all those eyes for nothing, unless they wanted them on something. And guess what they had on.
They had fucking Cramer. And he was shitting on retail traders like normal, but he was also desperately sending a message. And that message was that we are not in a recession and everything is okay. He tried to say that now is the time to buy. That buying in this uncertain time is the antidote. They gave Cramer 30 whole minutes of Shark Tank time so he could plead with the working man to keep buying, keep bag holding as we veer off of the cliff, because we are veering hard. He knows it, CNBC knows it, they mentioned it on the show.
They literally said, you can taste it. Regular people can taste it. Wild statistics like the dip and recovery today being the biggest since October 2008 are piling up, we are seeing the writing on the wall clearer and clearer and the dumbest of smooth brain non-apes who invest in mutual funds are starting to hear little birds telling them something is off. And they’re starting to question their masters, and CNBC has to take the time to inject an extra fat dose of it-will-be-okay to keep grandma and mom and dad buying stock while the market makers and rich investors cash out and jump ship.
TLDR; Shark Tank being interrupted by Cramer telling folks to bag hold harder is the canary in the MSM coal mine.
Persona opinion: this is likely tied to the GME and other stocks naked shorting and synthetic shares costing Hedge Funds BILLIONS so far. It looks like a major one got margin called yesterday.
It's great to see them waking up. I've long had the suspicion that "the market" is entirely fictional, basically fabricating money out of thin air like the banks and fed do. Own a part of a company? No, the actual owners own the company. I have as much say in how a company runs their operation as much as the next random person.
I've never liked the idea of a "board of directors" either. George Zimmer, the guy that made Men's Wearhouse, was fired by the "board of directors." If some random group of people can kick you out of the company you started, you're not the owner of the company.
It's all bullshit.
Men's Wearhouse shows as a private company on Yahoo. Were they ever public?
The market would not exist without shorting.
Short sellers help make the market more stable.
Enron was cooking their books. They went bankrupt.
It was the professional short sellers that figured it out, long before any regulators even thought about it, and long before the long investors had any clue.
Without short sellers, there would be no counteraction to the buyers.
The markets would be less liquid, and that would make them MUCH riskier.
The problem we have today is with the NAKED short sellers.
That was why GME was touted, but those naked short sellers all covered, and got away with it. They should have gone to prison.
Naked short sellers can push a stock down in an artificial way.
But in the case of GME, the short sellers were right and the long buyers were wrong.
The company is no longer profitable. There is no good reason to buy it now. The shorts were right, even though the naked shorts were criminals.
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Board of directors are just fronts for people to collect money while not being there for day to day operations. They use their names and titles to help secure loans for banks. Banks rely on fake confidence from multiple board members signing on to agree to loans. If a loan goes south the board of directors bail and the bank is out of money while no one left holding the bag to take on the responsibility.
All they do is sign down their names and they have a vested share of the spoils. Only time board of directors show up is if they want to push out the CEO or other board of directors. Most board of directors are already professionals in other fields. So yeah it is just one giant money pot of extra cash for them by using their names and prestige to secure bank loans. Fake money, fake titles, etc.