Bill Bonner: takeaways from the GameStop frenzy

So what was that all about, we wonder?  All the sturm and drang?  All the huffing and puffing on the part of bystanders?  Everybody seemed to get worked up about it. 

The shorts thought they were doing God’s work – helping Mr. Market find the appropriate price for GameStop shares.  The longs all wore white, too, confident that they were on a crusade to stop the rich from taking over the world. 

The only “takeaways” for us from the whole saga were that the Fed’s bubble must be getting ready to pop (the madness of the gaming crowd is reaching a fever pitch)… and that hatred towards “the rich” is running high – and growing.

~ Bill Bonner, "The Aftermath of the GameStop Short Squeeze," Rogue Economics, February 3, 2021