WASHINGTON – US stocks experienced another “meh” day Thursday. Major averages meandered comfortably around flatline. The Dow, the S&P 500 and the tech-heavy NASDAQ closed up or down only slightly (plus or minus 0.25% depending on the average) to end the day. Analysts claim that’s largely due to the continued inaction by Congress in passing some sort of stimulus bill before the lame duck session of that body concludes. Bigger news was the DOJ’s lawsuit (finally) against the robber barons running Facebook (NASDAQ: FB). The social media giant has been playing keep-away with prospective American employees, looking instead to hire cheaper foreign workers instead. So today we saw Facebook sued by the Feds for this alleged discrimination.
Why, exactly, was Facebook sued?
It’s same old, same old for Silicon Valley’s bleeding heart liberals who have nothing but contempt for American workers, even if they do know how to code. These fake lib / pro-communist /pro-Democrat hypocrites would rather save a few more bucks hiring cheaper and more easily abused techies from abroad. Helps increase those end-of-year upper-management bonuses, wouldn’t you know. Facebook is no exception. It’s why Silicon Valley favors America’s Socialist Party. They’re on the same page, re: immigration and all its perks. (For the rich guys, of course.)
More on the DOJ v Facebook lawsuit
Here are three takeaways from today’s long-overdue Federal action.
- “The Department of Justice has sued Facebook, alleging it discriminated against U.S. workers by reserving positions for temporary visa holders, the agency announced Thursday.
- “The DOJ alleged that Facebook did not consider “qualified and available U.S. workers” for more than 2,600 positions with an average salary of about $156,000, according to the release.
- “A Facebook spokesperson said in a statement the company ‘has been cooperating with the DOJ in its review of this issue and while we dispute the allegations in the complaint, we cannot comment further on pending litigation.’”
Facebook shares closed off 2%. Not too bad, indicating they have more than enough cash on hand to moot any Federal verdict against the company. Likely, however, shareholders figure, without evidence, that the “new Biden Administration” will drop the suit as soon as their sham election win puts Slow Joe in the White House. And all will be well for the big time grifters who run the nation’s capital and Silicon Valley alike. As Kurt Vonnegut famously wrote, “So it goes.”
Disputed election results continue to hover over US markets
In other news, the shame MSM continues to claim, without evidence, that President Trump’s continuing battle against the election the Democrats clearly stole is, well, without evidence. Except that there’s plenty of evidence proving that it WAS stolen.
But you may only read that if you can find the stories on the conservative media sites. Deplatformed and demonetized, Deplorable Journalists still continue to suss out the truth. But the pompous MSM blow-dries routinely denounce them, bury their stories (with “fact-checking”) in Section Z, or actually suspend or pull their material from the internet via their ever vigilant Thought Police. Astonishing.
This bizarrely underground story is also making markets nervous. It’s clear that if Trump pulls a rabbit out of his hat and stays in the White House for four more years, the nation’s major cities, and many of its minor cities, will burn, fueled by Antifa / BLM commie thugs funded by Silicon Valley money along with a few convenient billions from an infamous dual US / Hungarian citizen whose name cannot be spelled out in any article or video for fear of that information being banned or severely demoted on search engines. And, of course, demonetized or deplatformed.
Retail investors remain restless
Contrary to standard “reports,” all this continues to make at least retail investors more than a bit worried that the current Almost Santa Claus Rally this week could get gobsmacked by any unexpected news that disfavors the robber barons. Like
We’ll have to wait and see. But right now, most of us should start putting a few stops under profitable positions, lest we find ourselves stampeded out at awful prices. Just wait until the Wall Street Whales find out they’ve been betting on the wrong horse.
If that actually happens.
– Headline image: Cartoon by Branco. Reproduced with permission and by arrangement with Legal Insurrection.