Today I learned that in 2003 the fast food company “Sonic” began printing out their own money to pay their workers. This led to a huge inflation in the economy and was one of the leading factors of the 2008-2009 recession. Would highly recommend looking up Sonic Inflation on google if you want to learn more.
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OUR DONGERS ARE RAZOR SHARP
I am going to short the whole country of South Africa
I assure you, this ISN'T going to get political. Because by all accounts South Africa is screwed. My planned position is bottom paragraph.
Under the current ANC government there has been a general degeneration of all aspects of South Africa. Due to systemic nepotism, there are math teachers that don't know what square roots are, army officers that can't read, and cops that have never fired a gun. The practice of fictitious employees that take checks but don't work there is widespread enough that the government has drove itself into insolvency already. Estimates are that some 80% of government funds are misused in some way, ranging from government subsidies given to businesses owned by government officials to simply going missing from accounts. The ANC solved this, against advise of wiser people, with quantitative easing. Which is a fancy term for printing money, and since they could never possibly reverse that printer they're inflating the South African Rand which is why they've had two bouts of inflation near 9% twice in the past 20 years.
That is all besides how the largely defunct government doesn't prevent anything on the ground. Roaming bands of pirates (many affiliates of the Marxist Economic Freedom Fighter party) will poison guard dogs and torture and murder residents often for as little as car keys and groceries. Many communities are functionally independent and take the law in their own hands, and in many areas utilities are defunct (untreated sewage goes in the river, untreated tap water comes out and it smells as disgusting as it sounds). South Africans are more likely to have their asylum applications accepted than any other nation as there are so many tales of rape and murder and threats of ethnic cleansing. This equates to the most educated citizens leaving SA and most SA based businesses diversifying out of the country as literacy rates have been falling. These disillusioned departures are not new, as they include the most famous Afrikaner in history Elon Musk who is now a naturalized American.
Edit: The Economic Freedom Fighter's usual acronym isn't used because it's also the ticker for a penny stock.
I first thought about shorting South Africa over a year ago when I was researching the country (I'm a historian, I read much on the country for fun). I found the only index tracking SA (EZA) wasn't an accurate representation of SA economy and buying puts on it was useless. It tracked only the largest cap firms, which are the aforementioned companies diversifying out of SA (mostly to other parts of Africa). Which is why it's a volatile ETF that overall trades sideways. Buying puts on it wouldn't really capitalize on SA going full Rhodesia/Zimbabwe. Zimbabwe having experienced the general breakup of modern institutions and hyperinflation due to similar problems.
My new broker, IBKR, allows negative currency positions as long you post 10% as collateral. Now my native currency are US dollars, where inflation in 2020 was 1.4% while the South African Rand's inflation was 4.12% in 2020. That equals a 26.8% return on investment per year from that simple short position. But I'm expecting US Dollar inflation to stay between 1-2% a year while the Rand (ticker ZAR) stays north of 4% with inflation spikes inevitable over the next decade. This position also reduces my market beta, much needed for me as I've got hugely leveraged positions on American ETFs. This isn't a short term swing trade, I'm waiting for SA to implode.
WallStreetBets
Intelligest response to "Who asked?"
What if somebody did ask, huh, what then? I'm sure they were quite satisfied with the answer. But you, no, you cannot for the life of you find a way to somehow think about what someone else thinks or feels. When you imply that nobody asked, you're talking solely about yourself. The world doesn't revolve around you. Try to find the simple joys of life instead of wasting perhaps the best years of your life away, sitting in your shit smeared, cheeto dust covered, cum bespeckled ergonomic office chair. Maybe start working out, think about somebody other than you, secure yourself a date, anything will work, so long as you get the fuck outside and stop asking "who asked" every 2 fucking minutes, because quite frankly nobody asked for your opinion as well. You're but a speck of extra stinky shit in a pile of manure, that's all the significance you have in this world, but you can change that with 4 simple words: Shutting the fuck up. Thank you and have a good day
Who Asked?
It seems you have tucked Frump
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Reynad
Reynad and Kripp lay sprawled across the bed
twitchquotes:
Reynad and Kripp lay sprawled across the bed, every inch of them exhausted from the rigorous topdecking that had just occurred. "Your deck was crazy" Kripp whimpered before remebering that he'd forgotten to pay. He grabbed a few coins from his emergency OJ stash. "Welcome to the five dollar club" he said as Reynad oiled up for the brofist.
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Reynad