America's Stealth Reparations
Reparations Already Happened
As we enter Black History Month, we can expect further calls for reparations by the U.S. government to African Americans, but as an extraordinary thread on X this week detailed, we already had reparations for enterprising African Americans during COVID. Many created seemingly fake businesses to get payroll protection loans, nearly all of which apparently were subsequently forgiven.
You can pick any name that you think might fit the profile and find hundreds of businesses with a single employee pic.twitter.com/M1x9Ouc7wN
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) January 31, 2024
While many of these loans were given out well before Peter Schiff tweeted this, I'm not sure if he realizes just how prescient his tweet was pic.twitter.com/Q1zDKI0m5R
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) January 31, 2024
What was the money spent on? Crab legs, down payments for Dodge Hellcats, Air Force 1s, trips to Miami, designer bags, and expensive alcohol seem to be the most common items pic.twitter.com/sCMjFkFMLv
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) January 31, 2024
In addition to crab populations taking a huge hit from 2020-2022, the proliferation of Dodge Hellcats at this time, seen in the name "Hellcat Me PPP", may also help to explain the famous motor vehicle death rate graph by the great @Steve_Sailer https://t.co/REnIsbu21G pic.twitter.com/WmAhidCAxz
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) January 31, 2024
When you look at the businesses though, you realize a lot of them had a really great sense of humor about the whole thing. It's hard for me to get that mad at people who recognized a really easy mark and got a trip to Miami with bottle service out of it pic.twitter.com/uK60wFFE4q
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) January 31, 2024
There are multiple databases that still have all of this available, between this and "PPP + [word]" searches on Twitter it's endless entertainment pic.twitter.com/xvKEmqeEud
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) January 31, 2024
I think there might a reason besides inflation that Nike sales rose to a record high in 2021 and then found themselves with too much inventory by the end of 2022 pic.twitter.com/kNKq18ji1K
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) January 31, 2024
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) January 31, 2024
I had always guessed this would happen once they realized the implications of actually prosecuting fraud, but it's nice to see confirmation https://t.co/lkO9SnwX3u
— Confirmed Miscer ⚔️🍁🔫 (@ManDaveJobGood) February 1, 2024
Must have been nice! Hopefully, crab populations have recovered. For those of us who still have to work an invest, the investing note below may be of interest.
Investing Note
Our core strategy in the Portfolio Armor Substack is to buy the Portfolio Armor web app's top ten names, put a 10%-15% trailing stop on them, and then replace them with new top names as we get stopped out. These are my current top names holdings, along with their returns since I purchased them (I started this strategy when I launched the Substack at the end of 2022).
For those looking to start this strategy, you'll want to buy Portfolio Armor's current top names, rather than my holdings, most of which are not top names today. We'll be posting this week's top names tonight. If you'd like a heads up when we post them, feel free to subscribe to our trading Substack/occasional email list below.
If You Want To Stay In Touch
You can scan for optimal hedges for individual securities, find our current top ten names, and create hedged portfolios on our website. You can also follow Portfolio Armor on Twitter here, or become a free subscriber to our trading Substack using the link below (we're using that for our occasional emails now).
