Shares Of Jimmy Lai’s Newspaper Soar As Hong Kong Vows To “Fight On” Against CCP CrackdownTyler DurdenTue, 08/11/2020 — 18:25
Hong Kongers are literally using the financial markets, considered the beating heart of the global capitalist system, to fight the nominally “Communist” rulers in Beijing. One day after Hong Kong police arrested media Tycoon Jimmy Lai, who holds British citizenship as well, the stock of Next Digital, Lai’s media company which owns Apple Daily, HK’s most popular daily newspaper, and a frequent thorn in the side of the CCP.
After arresting Lai in April over allegations he fueled last year’s pro-democracy unrest, police arrested him again yesterday in the first major arrest tied to the new national security law. The arrest of Lai, his sons and other pro-democracy figures, including youth activist Agnes Chow, who was released from jail on Tuesday. The arrests prompted Secretary of State Pompeo and top UK diplomats to denounce the latest “disturbing” strike against the freedoms ensconced in the “Basic Law”.
But now that flooding into the streets in protests carries too much risk for the average Hong Konger (who is now facing COVID and laws conflating dissent with terrorism), many have found an interesting and innovative way to support the pro-democracy movement: buying shares in Next Digital, the parent company of “Apple Daily”.
After shedding 20% of its value yesterday, Next Digital has surged on a flood of mom and pop orders.
In just one day, the stock rose 4x from peak to trough…
Hitting its highest level since 2013.”
Shares closed on Tuesday at HK$1.10, up from its close of HK$0.255 just 24 hours before. The paper printed and sold more than half a million copies of yesterday’s edition, 5x the normal number.
On Tuesday, the newspaper’s front page showed an image of Mr Lai in handcuffs with the headline: “Apple Daily must fight on.” It comes as the paper published extraordinary scenes, streamed live on Monday, of police leading a handcuffed Jimmy Lai through his newsroom as nearly 200 officers raided the building.
Many cited the escalating crackdown on dissent as “the day Hong Kong’s press freedoms died”. US Secretary of State Mike Pompeo complained China had “eviscerated Hong Kong’s freedoms”.
In a clever display of support, Hong Kongers started lining up to buy Tuesday’s print edition at around 0230 local time.
As copies quickly sold out, some bought multiple issues to hand out to passersby.
“(I bought these) to hand them out to others, I’m afraid a lot of people can‘t get their copies,” said one anonymous woman who spoke with a BBC reporter. She had bought 16 copies. Online subscriptions have soared by 20,000 just this week alone.
Pro-democracy activists are calling for supporters to buy the stock.
In a statement, the paper has promised to “fight on”, and said the search warrant executed on its offices (not to mention Lai’s arrest) will have no impact on the paper’s operations.
In 2011, Alex Morse looked like a progressive star.At age 22, he’d become the first openly gay mayor of Holyoke, Massachusetts, was the youngest person ever to hold the office, and soon after became the first Bay State mayor to endorse a recreational marijuana ballot initiative.
Bright, quick, and with a sense of humor, he appeared headed places.
His announcement last year that he was running for congress against Richard Neal, the House Ways and Means committee chair and a master collector of corporate cash, made him a focal point of the movement to remake the Democratic Party in a less donor-fattened image.
Last week, Morse’s career took a dark turn. The College Democrats of Massachusetts sent him a letter telling him he was no longer welcome at any of their events. The group later released a letter accusing him of a variety of things, most particularly “having sexual contact with college students, including at UMass Amherst, where he teaches, and the greater Five College Consortium.” The College Dems claimed he met college students on apps like Tinder and Grindr; Morse taught a political science course at UMass-Amherst.
Morse acknowledged having “consensual adult relationships, including some with college students” but insisted he had “never used his power as Mayor or UMass lecturer for romantic or sexual gain,” adding that he “never violated UMass policy,” and “any claim to the contrary is false.”
UMass policy bans consensual sexual contact between faculty and “any students or postdoctoral researchers they teach, advise or supervise.” Although the College Democrats said Morse “abused his power for sexual relationships,” no one seems to be accusing him of sleeping with one of his own students. The issue here appears to lay entirely in the group’s conception of “power,” which reads like a parody of post-millenial paranoia.
The College Democrats explained that a major part of Morse’s offense was that he sought the contact information of students at their events:
Mayor Morse came to College Democrats of Massachusetts events and got to know our membership, and then sought out students that he met at our events privately on social media, in a manner widely understood by our generation to indicate intimacy.
If you’re wondering if it’s possible that the College Democrats just defined communicating on social media as a kind of sexual act, you’re not wrong. It got worse. In their letter to Morse, the group explained that when Morse wrote to those adult students – who, of course, gave Morse their contact info voluntarily – they lacked the free will to ignore his communications:
We have heardcountlessstories of Morse adding students to his ‘Close Friends Story’ and Direct Messaging members of College Democrats on Instagram in a way that makes these students feel pressured to respond due to his status…
American college students, it seems, are so intimidated by someone with a political job title that they lack the agency to ignore an Instagram shout-out. The College Democrats elaborated (emphasis mine):
Mayor Morse is a widely-admired and well-connected gatekeeper to progressive politics in Massachusetts and nationally, which makes the task of refusing his advances fraught for college students who wish to enter progressive politics themselves… the Mayor’s various positions of power create a significant and undeniable power imbalance between himself and the college students he sought out… where such a lopsided power dynamic exists, consent becomes complicated.
This is not a sexual harassment issue in the classic sense of someone who actually has power over someone else, for instance in the workplace or in a classroom. The concept here is that students who might “wish to enter progressive politics” will feel uncomfortable refusing, or even just not answering, so mighty a personage as the Mayor of Holyoke, Massachusetts, for fear of what that mightdo to their job prospects someday, in a field they have not even chosen yet.
Senior editor, Ash Bennington, joins Tyler Neville to discuss secular stagnation and the financial chicanery happening in markets. With stocks rising above global GDP, Ash and Tyler consider how the increase in bond issuance has been electric all while yields aren’t rising. Tyler also argues how people look at markets through a political lens, but not a demographic lens, and how demographics can further shape an investor’s understanding of what’s occurring. They also talk about the DXY in juxtaposition with the federal deficit, the relationship between spot gold and gold miners, and what the future holds for pension funds.
This is the first time I have ever had anything on this website from the major media. Maybe because I have not followed that media for more than 20 year
Are Eyes Starting to open?
If you don’t know who you are, and who they are, and are able to articulate that in and out of court (I don’t, however, advice you to argue with policy enforcement officers) you can expect this type of thing to be coming to your community soon. Keep Sleeping if you want too!
If you miss this video below, because my computer which very strangly got corupted and now I can’t download anything till I reinstall the system, and I will not do that until I pull the information off the drive. When I say the drive is corupted I’m talking about the table to record the location of the files and not the files themself. So, when something like this happens to you just know all of your information is still there, and you can use an OS on a scan disk to get it all back. If you don’t know what that means you’ll need to ask someone.
I cold not download the video but, the audio from the video I did in case something happens to the video. So if you see a video above there is no need to play the audio.
I’m not sorry if you have to think to use this site!