Clown World Finance
Clown World Finance Commentary The recent blowup of GameStop shares has revealed, if anyone was still doubting, that the center of clown world is not Washington, D.C., nor Silicon Valley—but Wall Street. To be clear, this isn’t meant to refer to the gallant band of Reddit users 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 deca...