Stupidity knows no limits!

[bpcw]

A quote from someone on Etoro referring to a position on the Nasdaq, Etoro stops you out at 50% loss on most positions I believe, don't use it much:

I remortgaged the house for £40k to clear debts and have a new bathroom...I put a buy on x20 and if it hits 15300 I lose 20k and my wife doesn't even know.....

Anyone else have any stupidity examples?

[harryg]

Mmm, tempting...

I'm sure many will agree that the most reliable definition of stupidity is "someone else", and of course there are different types, but some is so different that it sticks in the mind for years.

This is not financial, but it is from real life.

A couple had emigrated from the UK to France. We're not talking day-trip here. They had sold their house in the UK and were moving to a foreign country. The husband was taking French lessons so that he would be able to understand the language. We were out for a meal in a place typical of that part of France (ie: had it been in the UK, Health & Safety would have closed it down, but the food was OK).

The husband was asking me to translate the menu for him, but he was getting some of it on his own. His wife was looking at the Specials of the Day blackboard with that open-mouthed nonplussed expression normally reserved for a half-witted cartoon dog.

After a few minutes of this, she opined "The words are all different aren't they".

Whereupon Mrs G gave me a hefty spousal kick under the table, (the one that means shuddupa your face).

In this instance it was unnecessary, because I was somewhat dumbfounded.

To this day I have not the faintest idea what this teeth-shatteringly dense person thought a foreign language was, or more importantly how someone can get to the age of 63 and decide to move country without the subject coming up.

[bpcw]

Ha ha, the mind boggles!

[SOL]

High energy prices are bearing down on Europe’s economy like a freight train, and France just pushed its largest electricity producer into the path of the collision.

The government will force Electricite de France SA to sell more power at a steep discount, costing the utility almost $9 billion. The move will protect households and small businesses from surging energy prices, boosting both the economy and the political fortunes of President Emmanuel Macron -- at the risk of breaking the backbone of the country’s energy policy.

It’s not surprising that France should lean on EDF in a time of dire need -- the company has been the nation’s key power supplier for decades. Its fleet of reactors has delivered enough cheap and clean electricity to meet domestic needs, while also exporting to neighboring countries.

The French government decided that it “must protect consumers, and that will done at the expense of EDF,” said Xavier Regnard, an analyst at Bryan, Garnier & Co.

Yet the extra burden is being imposed when EDF has never been weaker. It is struggling with costly maintenance problems that have kept its aging plants offline -- one of the reasons power prices have risen so high in recent months. It must also partly bankroll the expensive new reactors and renewables that will help France maintain a reliable and low-carbon energy supply in the decades to come.

Analysts warned that the company is barely strong enough to take the financial blow from the new government mandate. Minority investors rushed for the exits, sending shares down as much as 25% on Friday

.
https://finance.yahoo.com/news/france-n ... 00979.html

The trend is in full motion, so there is no way in hell to fight it. Socialism is now in play and that means the West is not the optimum place to be. The sun rises in the East and sets in the west. Asia is going to blaze upwards and along the way a few Eastern European countries. Nothing last's forever. Everything happens in cycles and the cycle of the west has peaked.

[Yodean]

The trend is in full motion, so there is no way in hell to fight it. Socialism is now in play and that means the West is not the optimum place to be.

*****

Western Europe is "dead woman walking." Zombie-dead ... no hope - freedom is a dirty word there now.

Capital will "panic-flow" to the U.S.S.A. and Asia over the next 10 to 15 years. Buy.

The Neo-Marxist Utopia (NMU) will be achieved in the U.S.S.A. (United Socialist States of America) by the mid-2030s.

Red will bleed, Blue will dominate.

Be a WISC (Wolf in Sheep's Clothing). Avoid the Horde.

[harryg]

Forcing EDF to lose money to 'protect consumers' is typical politics (ie: style over substance) and will be sold as those greedy shareholders who receive dividends for doing nothing now getting their well deserved comeuppance. France, by the way, is resolutely and endemically socialist, no matter who is in power.

EDF has some big expenses ahead as they attempt to keep their ageing nuclear reactors in good condition - they are already extending the life of some reactors well beyond the original spec.

Oops, better not let on that the French government holds nearly 84% of EDF shares:
https://www.edf.fr/groupe-edf/espaces-d ... du-capital

[Budge]

Didn't know whether to post here of crypto section. Here'll do. The increase in pump and dump in crypto (and I would add NFTs) will soon give the pols/SEC etc. the excuse to get involved:

https://www.equedia.com/pump-and-dump-c ... w-economy/

"But the Academy Award for shill of the year goes to rapper Soulja Boy.

He did so much “due diligence” on his touted SafeMars coin that he didn’t even read the ad copy. In his tweet, he accidentally left the payment terms and exposed the scheme behind the coin"

"Some pumpers and dumpers took these crypto Ponzi schemes even one step further.

They created private groups on Telegram and Discord messaging platforms that supposedly let you “Soulja Boy” your way into the riches by collectively pumping and dumping cryptos.

The mechanics are simple.

They announce a time when the whole group will snap up a certain coin and together pump up its price. Its appreciation will attract outside investors, and its price will shoot higher. Then the members will dump the coin for a hefty profit."

[stefk]

The cars, the european cars, its a big traditional sector in Europe. Evrywhere in the world, its prestigious to own a european car, look the US movies. What will be the prestige of an electrical ferrari, an electrical bentley or aston martin ? it will be a massacre of the european automobile sector. The big winners will be the chinese. They produce the batteries, they will produce cheaper electrical cars, they produce 80% of the rare earths. It will be a real massacre of this sector in Europe. And it will be a loss for all the world.
Its really a stupid decision from Europe.