Recommended Posts

This is the same sort of pushback against the 'Old Establishment' as you saw with the Tulsa trump rally and Tik Tok kids grabbing all the tickets.

It is a paradigm shift.  

Capitalism in action.

Link to post
Share on other sites
  • Replies 149
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

IMO, any one who believes Ottawa doesn’t dictate what is printed about certain subjects is living in LaLa land. You don’t spend billions to bail out the media and not expect something in return.

The North Vancouver stabbing incident has drawn my attention to something: Over the last few days I've noticed a trend, and now that I have noticed it (and its actually registered), I realize tha

Posted Images

Yes there is a way to fight back against the establishment without leaving your seat and without violence.  

The interwebs are a great way to "Rally the troops" and do something that makes a difference.  Why do you think the government continues to try and regulate it more and more.

These examples are just simple ones.  The Millennial, tech savvy gamer and streaming crowd are getting their activist on.  The old guard will not be able to keep up.

   

  • Thanks 1
Link to post
Share on other sites

CBC Watch: Mothercorp pushes for even less oversight when virtually no one is watching

 

 

Who’s watching the CBC? Not too many Canadians, going by ratings. But someone has to keep an eye on what antics our publicly funded broadcaster gets up to. That’s why the National Post is reviving CBC Watch, an occasional feature, and long-time reader favourite.

These are turbulent times. Unrest plagues our southern neighbour, an actual plague locks us in our homes, economic uncertainty causes stress and real hardship for many Canadians. But right under our noses roils an intense power struggle most of us aren’t even aware of. Yes, the CBC is asking to have its licence renewed. 

Believe it or not, every few years — when they’re not in the U.S. — CBC brass must go cap in hand to the CRTC, seek approval of their plans and, hopefully, secure a long reprieve from another such meeting. Licence renewal, the last one was 2012, is about the only time we get a say in CBC operations.

This time, Mothercorp’s CEO Catherine Tait has requested the regulator require — wait for it —less oversight of their expenditures, specifically regarding the CBC’s beefed-up digital offerings, where the CBC needs greater “flexibility,” according to Tait. “She is asking the CRTC to renew its licences for five years with slimmed-down regulatory scrutiny of its digital content compared to its radio and television programs,”the CBC itself reportedon January 11. That sounds fair. 

 

Clearly it’s unreasonable for us taxpayers, if CBC’s spending $1.2 billion per year of our money, to demand more accountability and transparency. Such amounts are, after all, known in Ottawa as “rounding errors”. But let’s stand on principle and have a look. 

Unfortunately, it’s not exactly easy for the average taxpayer, despite the immense horsepower of the internet, to investigate the financial workings of the CBC, determine ratings statistics, etc., simply by Googling. The broadcaster produces typically turgid annual reports, a mixture of corporate boilerplate and boosterism rendered in splashy, obviously costly graphics. Independent audits merely check whether the financial reporting is up to snuff, and don’t evaluate mandate fulfilment or performance. 

Juicier data is found buried in CRTC reports and the apparently minimal media investigations revealed by searches on the subject. CRTC provides viewership/listener statistics and some revenue numbers. Knowing most CBC revenue comes from us, it’s possible to do rough value for money calculations.

For example, both CBC’s AM radio stations and Radio Two had a “tuning share” of about three per cent in 2019, although the news/talk radio component sneaks into the mid-teens.TV viewership was about one-sixth that of the private networks.Not exactly stellar. Could the poor ratings be behind the CBC also asking to be permitted to broadcast less Canadian content? 

But, for the sake of argument, if this annoyed you, how could you complain? Well, around licence renewal time the CRTC invites submissions of opinion about the CBC. At time of writing they had received 10,526 such comments, even some from average Canadians. Much is from the public sector however — tax-funded activists, arts groups, museums, libraries and galleries, towns (La Tuque and Coaticook!). Clearly these folks have plenty of time on an average day to write nice letters about the CBC… So they’re using your money to influence how CBC will use more of your money. 

Despite the public indifference reflected in the ratings, the small, pro-CBC minority is vociferous. When they’re not distributing annoying lawn signs (“We vote CBC!”) in your neighbourhood, the Friends of Canadian Broadcasting are rallying support for Mothercorp. And let’s be clear, when they say “Canadian Broadcasting” they don’t mean local radio sports talk or 100 Huntley Street. The first of the Friends’ stated values is “Public broadcasting is sacred. CBC leads us forward, brings us together and makes us stronger”. They might have paraphrased Churchill: “Never have so many spent so much for so few”.

The “Friends” maintain it’s only $34 a year per Canadian — why don’t we spend more? By contrast, the Brits cough up $105 per capita (2016) for the venerable “Beeb”. Yes, but they’re having an actual debate about it, both on the value proposition and ideological bias.

 

An organization, Defund the BBC, is actively campaigning for just that. A survey released this month by YouGov found that 48 per cent of Britons believe the BBC does not represent their values. Similarly, the Campaign for Common Sense surveyed the attitudes of comics appearing on BBC last November using criteria like politics, Brexit and “woke”. They found that, of the 141 comedians, 70 per cent were obviously left-oriented with 74 per cent of the broadcast slots given to leftists. Only four of the slots were given to the two comedians found to be explicitly conservative,pro-Brexit or anti-“woke”. 

Long-simmering concerns about the BBC emerged over Brexit. While news coverage was equivocal, there was massive backlash overclear Remainer-bias in editorial comment and analysis.Further, journalist Robin Aitken wrote a rhetorically titled book, “Can the BBC be Trusted?” about his long-time employer, while feisty Labourite and one-time BBC editor Rod Liddle regularly trashes the network. 

Meanwhile in the quiet Dominion, we pretty much sit back and take it. Two defund-the-CBC petitions languish on-line and heaven forbid that an insider writes a tell-all memoir about CBC’s fatal flaws and biases. 

Instead, CBC’s message seems to be, on several levels, “move along, nothing to see here”. Executives justify their desire for less scrutiny as somehow allowing them to better satisfy their audience. In a moment of rhetorical flourish Ms. Tait appeared to conflate the Flintstones and Greta Thunberg, saying, “If we do not move with our audiences, we risk becoming dinosaurs on a melting ice cap.” This is clearly not the first time “dinosaur” and “CBC” has been used in the same sentence, but likely is a first for the corporation’s CEO.

Fortunately, CRTC Chairman Ian Scott and even the “Friends” seem to favour greater transparency. During the ongoing hearings Scott stated “what gets measured gets done” and we heartily agree. Iced Capps aside, if the Big Red Dinosaur is to survive, it needs to be scrutinized regularly, from tail to snout. 

https://nationalpost.com/opinion/cbc-watch-mothercorp-pushes-for-even-less-oversight-when-virtually-no-one-is-watching?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR2dbQuvNWS8R8ya-XDVlLUVOrmtFpHdB-GdYyNSuUYcKEaA_qU9BowofvA#Echobox=1611832591

Link to post
Share on other sites
3 hours ago, boestar said:

The Millennial, tech savvy gamer and streaming crowd are getting their activist on.  The old guard will not be able to keep up.

Quote

American Airlines Group Inc. CEO Doug Parker warned on Thursday that “we don’t know” when demand will rebound from the Covid slump and forecast at least a 60% drop in first-quarter revenue. That’s neither an upbeat nor a surprising outlook; it’s still a pandemic after all. And yet shares of the airline jumped as much as 87% in early trading after gaining the attention of Reddit’s WallStreetBets forum.

Reddit Traders Book American Airlines Flight to Nowhere

  • Like 1
Link to post
Share on other sites

I would certainly be interested in an informed opinion on this.... as opposed to memes (and the like). I know there are a few investment whiz's about so the floor is yours.

I'm incline to think that the myriad of market manipulations (in all the various forms) are less about "real value" than they are turning a quick buck. Quick buck and real value can't peacefully coexist in the same sentence IMO and artificially driving a stock from $20 to $483 (with no change in perceived value) doesn't seem reasonable. Neither does assuming that there is no downside for the little guy. It seems to me that anyone with a pension fund, RRSP, 401K etc is a fish in the deep blue sea of the market and investments. 

I know little about it, but I have watched contractors slap in windows without a level or square any where in sight. Seems to me this is that.

The subprime mortgage fiasco was simple enough (for even me) to understand and it seemed that a meltdown was the only possible outcome there.

Edited by Wolfhunter
Link to post
Share on other sites

🐺 


“ It was all well and good for investment banks and executives of phoney-baloney companies to gorge themselves on funhouse profits on a funhouse economy, but when amateurs decided to funnel just a bit of this clown show into their own pockets, finance pros wailed like the grave of Adam Smith had been danced upon”

 

https://taibbi.substack.com/p/suck-it-wall-street

Edited by Jaydee
  • Like 1
Link to post
Share on other sites

As this continues, it appears to be more of a revenge play than investment.

Hedge funds have taken advantage of average investors and killed companies all in the name of profit.

Now they are 'taking one for the team'.

Isn't it funny though, when it comes to supporting the public, the government moves real slow, yet when billionaires start losing big, the government steps in right away.

https://www.bloomberg.com/opinion/articles/2021-01-26/will-wallstreetbets-face-sec-scrutiny-after-gamestop-rally

Either way, isn't this pure capitalism?  Money is being made, money is being lost, and in the end it balances out.

Only problem is that this time, it isn't the little guy losing and the big guys don't like it.

Link to post
Share on other sites
9 minutes ago, Jaydee said:

🐺 


“ It was all well and good for investment banks and executives of phoney-baloney companies to gorge themselves on funhouse profits on a funhouse economy, but when amateurs decided to funnel just a bit of this clown show into their own pockets, finance pros wailed like the grave of Adam Smith had been danced upon”

 

https://taibbi.substack.com/p/suck-it-wall-street

Also from this article:

Regarding improprieties, leaving aside that the Redditors were doing exactly what billion-dollar hedge funds do every day — colluding to move a stock for fun and profit — the notion that this should be the subject of a federal investigation is preposterous.

Link to post
Share on other sites
34 minutes ago, Jaydee said:

It was all well and good for investment banks and executives of phoney-baloney companies to gorge themselves on funhouse profits on a funhouse economy, but when amateurs decided to funnel just a bit of this clown show into their own pockets, finance pros wailed like the grave of Adam Smith had been danced upon”

Maybe this is a sign of the times and the perfect inclusion in a thread about media bias. 

I have no experience in such things, nothing to fall back on in the way of formulating an opinion. The online rhetoric, over the top opinions about big guys and little guys, idiotic memes and the notion of righteous revenge for past slights means I will likely give up the quest prior to even understanding the basic issue. 

 

 

Edited by Wolfhunter
Link to post
Share on other sites

You probably know all this, but what the hey...

It's a short squeeze of major proportions.

Shorties (in this case Wall Street hedge funds) were betting on stocks like GameStop to drop in value. Instead, Main Street (the average Joe) bought up the stock and drove the price up...resulting in the hedge funds having to pay back those shares at a much higher rate. It's estimated the shorties lost $5 billion on GameStop alone.

Lots of debate about online brokers like RobinHood (average age of user, 31) shutting down purchases of the stock.

 

Link to post
Share on other sites
1 hour ago, FireFox said:

You probably know all this, but what the hey...

I didn't.

I guess we all have our weaknesses, this seems to me mine. My eyes glaze over and my brain turns to mush. What a difference a single paragraph from a sensible person can make. Thank you.

It raises lots of questions (in my mind) though about betting on valuations and the market effect from a systemic POV. But I won't torture you further. Cheers

Link to post
Share on other sites
18 minutes ago, Jaydee said:

If our government had any guts they would make shorting illegal. It’s simply a way for the big investor to walk all over the little guy

Why?   The stock market is just like all other gambling, you pays your money and you takes your chances. 

Link to post
Share on other sites

This “right wing” violence poll was conducted by Liberals, for Liberals

A taxpayer-funded lobby group called the Canadian Race Relations Foundation, that commissioned a poll from a polling company owned by a Liberal party activist.

The poll only asks about “right wing” violence. What about an entire year of left-wing violence from Antifa and Black Lives Matter, just burning and shooting?

How is it a legitimate survey to specifically ask about only right wing violence — when we’ve had a year of riots across America from the left? And they've started up again, by the way, in Portland for example. Well, this is a Liberal polling company commissioned by a Liberal-funded NGO for a Liberal cabinet minister.

Garbage in, garbage out.

You learn nothing from people asking if they’re against hate. Of course they are. You learn nothing from them asking people if they’re against violence. Of course they are. And once you’ve whipped them up with your narrative that we’re in a crisis, if you ask them if they want the government to do something about it, well of course they do.

Or at least of course they say they do.

  • Thanks 1
Link to post
Share on other sites
2 hours ago, Kargokings said:

Why?   The stock market is just like all other gambling, you pays your money and you takes your chances. 

To hear you say that makes me think you don't understand the stock market very well.  I'll match my research and assessment skills against the best professional but the field is massively slanted against private individual investors (some who know it and others who don't).  Short selling is a pox.  Nothing but parasites - anybody who says otherwise doesn't understand it.

There aren't many people I would wish bad things upon but short-sellers are one of them.

Short-sellers will pick a company, short the shares and then release a bunch of fake news to drive the price down - sometimes to the point that the company is forced under and then collect all the cash from their trade.  Eventually the news is proven fake but often it's too little, too late.  Real companies forced under, real employees out-of-work, real investors cheated out of their investment.  If there's one true evil in the world this isn't it but this is close on the list.

Link to post
Share on other sites
1 hour ago, seeker said:

To hear you say that makes me think you don't understand the stock market very well.  I'll match my research and assessment skills against the best professional but the field is massively slanted against private individual investors (some who know it and others who don't).  Short selling is a pox.  Nothing but parasites - anybody who says otherwise doesn't understand it.

 

I understand it very well, two of my brothers turned their stock dealings into $$$$$$$$$(millions)  but I never had the money or the desire to play.  Short selling is like betting on the horses, sometimes you win but .... or playing any other game where the odds are against you.  

Link to post
Share on other sites

This is the latest big story on FOX after the NY AG report.... but no where else it seems, why would that be:

NY governor duped reporters who 'swooned' over COVID 'leadership': columnist

But it's really not true, no one was duped (at least IMO). It seems to me that it was deliberate, calculated, didn't we all watch it play out in real time? Didn't I and others ask WTFDYTWGTH as people with Covid were packed into in LTC facilities?

So, is this where we all pretend to be shocked, surprised and aghast? As hard as it may be to believe, the people who were already in LTC (somehow) managed to contract Covid. But it gets better, anyone who subsequently died wasn't counted as a LTC death as long as they were sent to the hospital just prior to dying or if they happened to die enroute..... cool eh? That's how ya do it.

Everyone knew it was happening as it was happening but since it helped make Trump look bad it was all OK. Now that Trump is gone, and it's not quite as OK as it was, the MSM won't even cover the story. 

And here's my favourite part,  the new talking point is "it's not about pointing fingers or assigning blame." At least not anymore eh?

 

 

 

Edited by Wolfhunter
  • Thanks 1
Link to post
Share on other sites

The problem with the Shorties is that they are gambling with someone elses shares.  So when something like this happens, not only do they have to pay back the shares they also pay interest on the new value.  over a Billion dollars in interest alone on that 5 billion dollar loss.

Turnabout is fair play in my books

 

  • Like 2
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.