Thursday, February 11, 2021
Unfortunately they are.
I stopped following most media types last year. One who might be worth listening now is Saagar. He has his own podcast now, separate from the earlier Hill TV show, focusing solely on reanimating real populism. He sometimes hits a fresh idea.
In this episode he's discussing the recent 'David vs Goliath' thing involving Robinhood traders.
Wolf already pointed out that Robinhood makes its money by telling Goliath what David is doing. Saagar adds that the Reddit group where all the Davids got their slingshots was founded by some of the biggest old-fashioned Wall Street types, and is still largely shaped by them.
"We shouldn't be valorizing daytrading and speculation as if they're the William Jennings Bryans of the future."
Unfortunately they are. Jennings Bryan was EXACTLY THE SAME KIND OF FAKER. He accurately denounced the evils of Wall Street while proposing a solution that gave MORE POWER to Wall Street. After he was done campaigning, he went to work for Madman Wilson, writing Versailles and forming the League of Nations. Total betrayal of populism.
Maybe I should add this fact about Bryan to the list of Thiel questions, since it seems to be a fact I know that nobody else knows. It's not secret. It's obvious when you spend enough time reading the actual writings of those populists.
Lesson: Don't be there. Don't participate in any movement, no matter which "side" it seems to take. When you walk onto the field with professional players, YOU WILL LOSE.
Labels: Equipoise
¶ 4:51 PM
