Matthew Spositi is an aspiring trader, Austrian Economic enthusiast, entrepreneur, and founder of New Millennium Wealth. My goal is to help individuals get out of the rat race and become financially free, by showing you every step of my journey, and by sharing all of the knowledge I have accumulated about trading, investing, markets, and economics over the past 5 years.
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Friday Jan 29, 2021
Friday Jan 29, 2021
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The recent blowup of GameStop shares has revealed, if anyone was still doubting, that the center of clown world is not Washington, DC, nor Silicon Valley—but Wall Street.
To be clear, this is not meant to refer to the gallant band of redditors from r/wallstreetbets—those few, those happy few, that band of brothers who, as of this writing, may very well be poised to force several hedge funds into bankruptcy.
Rather, the clowns are those hedge funds and all those other institutional investors who have been propped up by central bank intervention for decades while congratulating themselves that their seven-figure earnings were all due to their own financial brilliance.
This article was published at the Mises Institute, by Kristoffer Mousten Hansen.
Article Link: https://mises.org/power-market/clown-world-finance
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