Insanity Wrap needs to know: What would it take to get a reporter to recognize journalism?
Answer: We have no idea, either.
Before we get to the sordid details, a quick preview of today’s Wrap:
- It’s Main Street Mom’s Basement vs. Wall Street
- RobinHood pegs the ironometer
- The pen is mightier than the pocket
And so much more.
Shall we begin?
This Is Not a Sane World, Exhibit #1,000,006
Insanity Wrap thought at once of the famous scene from Stanley Kubrick’s Dr. Strangelove: “Gentlemen, you can’t report in here — this is the press room!”
The chutzpah is strong in this one:
According to the article, the White House does not seek to oust conservative media from the press room, but those “who traffic in conspiracy theories, propaganda and lies to spread disinformation will not be tolerated, and we’ll work with the WHCA to decide how to handle those instances moving forward.” How these terms will be defined and applied was not specified.
While the Biden administration will likely face intense pushback from conservative journalists, many have criticized left-leaning reporters for being too soft on the new administration. Early questions from liberal journalists included inquiries into the color scheme of Air Force One and Biden’s mood on inauguration day, not exactly hardball questions.
Insanity Wrap believes deeply that an adversarial press is vital for the political health of the nation — any nation.
So it isn’t that we ever demanded (or even wished) that the press had been nicer to the Trump administration. Admittedly, though, we would have been pleased as spiked punch if the press had at least been sane, or had not premised every question on “Literally Hitler™.”
But if “right-wing journalists” are indeed turning the White House Press room into a “battlefield,” then Insanity Wrap can only bask in the schadenfreudelicious turnabout.
Your Daily Dose of Mostly Peaceful Protest
Pretty sure only trained hedge fund professionals backed by institutional investors and UHNWs are supposed to commit theft/financial pillage by artificially distorting the market. I don't know why retail investors think they have the right or expertise to manipulate price action.
— Eric Weinstein (@EricRWeinstein) January 28, 2021
It occurred to Insanity Wrap this morning while catching up on all the latest GameStop hijinks, that Redditors bidding the shares up is actually a form of peaceful protest.
Redditors don’t have any protest signs and they haven’t taken to the streets, but they have found a way to make known their displeasure with Wall Street hedge-fund manipulation.
Far from the streets (and even further from The Street, if you catch our drift), Redditors are doing it in the one place hedge funds understand: Right smack in the pocketbook.
This isn’t over, either.
The Great GameStop Short Attack (or whatever we’re supposed to call it) feels to Insanity Wrap like a probing attack.
Now, having found the weak spot in Wall Street’s defensive position, GameStop could prove to be the opening salvo of a major offensive.
Pop some corn, but unless you can afford to risk big losses, Insanity Wrap advises staying on the sidelines.
Street Wars: Episode V — The Nomenklatura Strikes Back
The irony is drippier than an ice cream cone left out in the sun but, yes, the trading platform named RobinHood is preventing the poor from taking from the rich.
The news follows a Reddit community, WallStreetBets, causing the various stocks to skyrocket. Now, however, Robinhood’s move to ban users from purchasing shares in the three companies will likely drive the price down.
When platform users go to the profiles of stocks including GameStop, Nokia, and AMC, they are either met with a message that “this stock is not supported on Robinhood” or “you can close out your position in this stock, but you cannot purchase additional shares.”
In other words, Robinhood is playing favorites, defending one small group of very wealthy traders from a very large group of not-wealthy traders.
To Insanity Wrap’s (admittedly twisted) mind this is no different from social media platforms determining for their users what subjects are fit for discussion.
We’re also certain that we’re nowhere near the end, although we’re usually loathe to make predictions.
But if you put Insanity Wrap on the spot and demanded to know how we think this all ends, we’d say it ends…
The Craziest Person in the World (Today)
Today’s craziest person is whoever left this up.
Robinhood’s social media “expert” has fallen down on the job, forgetting to memory-hole this old tweet, 1984-style.
And Now For a Brief Moment of Sanity
How do people see everything that’s going on and still think the government deserves more power?
— Kevin Sorbo (@ksorbs) January 28, 2021
Thank you, Kevin — we needed that.
Pockets, How Do They Work?
Insanity Wrap understands that “How do pockets work?” is hardly a question for the ages, although it does seem to be a question for the aged POTUS.
One More Thing…
Insanity Wrap must have read the wrong forecast — we’re dressed for the Mid ’80s…
…just like we have been for the last 35 years or so.
That’s a Wrap for today.
Come back tomorrow for another Insanity Wrap…
…assuming we make it that long.