What's going on moon gang, this is your dumb money update for today, thursday december 9th. Now we're going to be talking about the bloodbath between the equities market and the crypto market things it's a sea of red. I i can't put it lightly, that's exactly what it was, and it kind of hits you right here. So we're going to be talking about.

What's going on we'll be going over a little bit of commentary uh from jim cramer on the overall market that i think you're going to find surprising and then we're going to be diving into kind of the surprising reason of why ken griffin bought the constitution and Finally, i want to wrap up with, i think something that's pretty important, but a little bit of proof that wall street institutions are definitely afraid of retail traders. So, with all that being said, let's hop right into it. Okey dokey artichoke time for a little bit of a political update senate, clears last major hurdle to raising debt ceiling. So, just a little bit of a recap for you, there is concern of the first ever federal default and right now it's expected that that would hit if we don't pass.

What we're about to talk about by about mid-december, but it looks like things - will be: a-okay the senate on thursday cleared away the last major hurdle to raising the debt ceiling, effectively ending a republican blockade and all, but guaranteeing that congress will be able to move quickly. In the coming days to steer government away from a first ever federal default, so this is now passed by the senate. It was passed earlier in the week, tuesday by the house, and at this point it just has to get sent over to the president and then the president signs it becomes a law and we will avoid the first ever federal default. So with that, that's some positive development there, but even with that positive development of, of course, this political gridlock when you get over it, usually that's some good news, but the market did not react that way.

First of all, i just want to point out the right side of my screen: red red red red red red. Like i said, it's a bloodbath. I know when you look at the s p. 500.

It doesn't feel that bad, because that was down point six. Eight percent close to support 460.. Hopefully we could catch yourself very soon and get the break out of 470., the q's a little bit more extreme down 1.5. Maybe targeting this gap fill back down to 387 would love to see a breakout of 400 and the most extreme down 2.26 percent, at least in terms of indices, was the russell 2000 and that in fact, did gap fill today.

The high from the sixth and previous resistance around 220 and some change - we did officially gavel, hoping it catches itself soon, if not we're watching 217-ish would love to see it turn back around and get out of this now across individual equities, amc down 9 gme down 10.3, prague, nine percent, lucid, got hammered eighteen point: four percent tesla six percent, reviewing five percent nvidia 4.2. I mean someone needs to let pelosi know about this. She knows it's down over four percent liter. No! I guess she was busy working today, but she needs to get back into getting nvidia higher and higher and higher, not that surprising that robin hood was down 7.6 percent lgv and i mean, as you can see, a bloodbath.

Let's take a quick look at crypto right here: bitcoin we're at the one week, but let me drop it to the four hour. This went up above 50 and then got smacked down to 48 ethereum, taking a little bit of a slip solana taking a little bit of a dive there avalanche coming off of 125, all the way down to 85.. In fact, the only green one right here is lrc loop ring, so i'm a fan of that just because of its connection with gamestop and building out these marketplaces hey. So at least we have one thing: it's a point: six, six percent.

I guess we could take that as a bit of a winner and with this there might be a lot of speculation of. Why is this all happening? What's going on right now, i personally think that it doesn't really relate too much to the evergrand situation. I think this is more of we saw a lot over the past three four days we saw some green people were buying, buying, buying it ran into natural resistance, and then people started profit-taking and then all of a sudden it got a little bit too much and We saw a bit of a panic or it could possibly relate to this. This was posted just two hours ago from kramer himself.

Jim cramer shares his 2022 game plan and best stock ideas with the cnbc. Investing club kramer kicked off this special live event: cnbc investing club, jim cramer's game plan for 2022, breaking down his outlook on the economy. He said this is the strongest economy we've ever seen heading into 2022.. Did anyone send him a screenshot of their watch list today? Strongest economy we've ever had a sea of blood.

I don't know it seems like the overall market. Gods might just be fading. Uh jimmy boy here, potential potential potential, moving on very interesting story, billionaire ken griffin's son told him you have to buy the constitution. I don't know if they're at all, related to nicholas cage when he's like, we have to steal the declaration of independence, but i guess ken griffin's son said you have to buy the constitution.

Dad daddy, we're not gon na, be friends. If you don't buy the constitution. He's like i guess i guess i got ta buy him. So here's an interesting story - and this is from griffin himself.

I was sitting at home in new york and my son calls me to say dad you have to buy the constitution now. I would be lying to you if i myself had not had that conversation with my own father, the amount of times i'd be leaving the bars 2 a.m. 3 a.m call up my dad and it always starts off matt. You can't be doing this again and i'm like father shut your mouth, you need to buy the constitution, we've all been there.

If you have not had this conversation with your father, you're, not telling the truth. Griffin didn't give his son specific reasoning for wanting his father to make the purchase. Well, we don't know uh. This is really funny.

This is a little look into griffin's inner dialogue. I told myself hang on. Let me do the voice changer. I told myself.

I am going to own this. He said i don't do that very often hey, it's not very often that one of the world's richest people tells themselves that they're going to own something it doesn't happen. Often, if you think that happens, often it doesn't happen often, but when it does it's because his son calls him and tells him to buy the constitution, let's get one thing clear on that: uh a wild story. This is if this, if this alone isn't confirming that we live in a simulation, and it's just all fake and nothing really matters anyway, i don't know what does and with that being said.

This leads me into another aspect of us living in the upside down that yes, wall street institutions are very much afraid of retail jpmorgan offers hedge funds a way to dodge meme stock shocks. Around 30 institution clients are testing the screening tool. Retail investors have increasing sway in stock markets. Yes, we do jp morgan, chase and co is testing new research product to guard big ticket clients from losses linked to the meme stock phenomena that has captivated wall street this year, quick little moment of silence from melvin capital.

For white square and all the other related ones that didn't know what the hell they were doing. Okay, moving on the screening tool is a data set on u.s retail investor trends sold to institutional clients. It provides predicted retail flows, significant, buy or sell signals on single stocks, negative or positive sentiment based on the bank's internal data and scouring of social media forms such as reddit and twitter. This scouring, basically they're underpaying, a shitload of interns to say what's going on on that thing and they're, like i don't know, i think they're talking about this stock, put it in the report, that's how i at least picture this.

All playing out data shared with clients includes the size of retail flows, the most discussed stocks on social media and companies that are likely to face a retail squeeze, and then they just define it when small investors rush to a stock stock that hedge funds are betting Against that's kind of weird: when small investors rush to a stock, it doesn't have to be small investors, it could be anyone. A squeeze has nothing to do with the size of the investor. Just has to do with the fact that they're buying a stock, that's heavily shorted, so that's a weird definition bloomberg, but overall the fact that there's even that they can provide this. The fact that jp morgan thought of it and then 30 asset managers and quant fund managers like we need that shows you that retail is obviously a rising force within wall street and they're doing their best to, i guess, in a certain way, protect themselves against it.

I thought all this was pretty interesting and i wanted to share it with you beyond that. I would love to get your commentary on any of this. What's going on with the meme stock, i guess data prediction. What's going on with ken griffin and his son and the super weird inner dialogue, jim cramer, and the fact that the overall market is attempting to fade him or just the fact that it was a sea of blood today, i would love to get your thoughts on All that, in a comment below now, if you want to help me out, i would greatly appreciate it if you could drop a like, and if you want to join up with the moon gang hit that subscribe button.

That type of engagement just helps out with the algorithm, and it gets it promoted to all the other people who might potentially be interested, and it means the world to me. Thank you. Thank you thank you, and until i catch you next time for me and share best of luck in the markets, you.