Author Topic: Reddit Shoots GameStop Stock up 2,752%  (Read 2276 times)

Online Shiranu

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #15 on: January 29, 2021, 06:39:19 PM »
That's all well and good, but if the market crashes that doesn't just hurt the rich... it hurts everyone, and if anything the rich are more well positioned to survive it.

I'm not a big fan of starving the majority of the poor to stick it to a few of the rich.

In fact, the people who are doing the harm are becoming quite wealthy themselves. If it has backlash that hurts working class, what makes them any better than the hedge fund investors?

« Last Edit: January 29, 2021, 07:08:00 PM by Shiranu »
“The great appear great to us only because we are on our knees. LET US ARISE!” - "The Rebel", Texas' Premier Socialist Newspaper, 1892

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #16 on: January 29, 2021, 07:27:03 PM »
The filthy rich have been playing this game for decades, pocketing ridiculous sums when they win and socializing their losses when they lose.  They're already asking for a bailout from this debacle.  And you better believe there have been ripples - when the American people need relief, we're told there's no money.  What we aren't told is why there's no money.  And lots of people lose their jobs from this vicious boom-bust cycle.  And once again, they're not told why they lost their jobs.

If the market crashes because a few dozen adderall junkies on reddit banded together, then it deserves to fail and it should never ever be rebuild without massive structural changes.  And it goes without saying that no one gambling their money on Wall Street deserves a bailout.
Absolutely. Crush the unions, shit-can good pensions for 401Ks, No financial education for the masses, have built-in cyclical disasters when many of the 90% are forced to sell and take their money. BINGO.

Online Hydra009

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #17 on: January 29, 2021, 07:30:37 PM »
That's all well and good, but if the market crashes that doesn't just hurt the rich... it hurts everyone, and if anything the rich are more well positioned to survive it.

I'm not a big fan of starving the majority of the poor to stick it to a few of the rich.

In fact, the people who are doing the harm are becoming quite wealthy themselves. If it has backlash that hurts working class, what makes them any better than the hedge fund investors?
The poor very rarely own stock, and yet always suffer from downturns.  And for once, this market correction appears to mainly affect the rich, who as you note, are well positioned to survive it.  So what's the problem?

And yes, some people are becoming millionaires due to keenly foreseeing this shorting scheme and making it work for them rather than the billionaires.  Do you think I should criticize newly-minted millionaires who did not destroy peoples lives with the same vitriol I would criticize billionaires who do destroy peoples lives on the regular for decades for a couple more billion that they clearly don't need?  Who are the truly greedy ones here?

Today, I read a fluffy article about an 8-year-old who made $3,000 (pre-tax) from a few shares she got as a gift years ago.  Do you consider that ill-gained?  Should she give that money back and to whom?
« Last Edit: January 29, 2021, 07:32:13 PM by Hydra009 »

Online Hydra009

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #18 on: January 29, 2021, 07:43:29 PM »
Absolutely. Crush the unions, shit-can good pensions for 401Ks, No financial education for the masses, have built-in cyclical disasters when many of the 90% are forced to sell and take their money. BINGO.
I honestly can't tell if that's sarcastic praise.  I don't have anything against people being part of unions or learning finance or investing small sums as they wish.  But I absolutely despise the vast concentration of wealth in this country and Wall Street is the public face of this ongoing human catastrophe.  I will never forget these scenes from Occupy Wall Street:




No one was ever arrested for that market crash, but lots of people were arrested for protesting the injustice of it.
« Last Edit: January 29, 2021, 07:51:20 PM by Hydra009 »

Online Shiranu

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #19 on: January 29, 2021, 09:01:01 PM »
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And for once, this market correction appears to mainly affect the rich, who as you note, are well positioned to survive it.  So what's the problem?

For now. I'm saying the longer term implications could be a lot more severe, as is generally the case when people play games with the economy.

You said it yourself; billionaires have been doing this for decades... and look at the economy... it's shit.


If poor people become rich at the cost of the economy taking a hit... a punch to the face is a punch to the face, regardless who threw it. If it hurts the economy does it make it better that at least it was poor people who hurt it for their own gain instead of the normal suspects?
« Last Edit: January 29, 2021, 09:11:52 PM by Shiranu »
“The great appear great to us only because we are on our knees. LET US ARISE!” - "The Rebel", Texas' Premier Socialist Newspaper, 1892

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #20 on: January 29, 2021, 09:08:50 PM »
I honestly can't tell if that's sarcastic praise.
I'm with you 100%. Game is rigged by the 1%.

Online Hydra009

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #21 on: January 29, 2021, 09:26:48 PM »
I'm with you 100%. Game is rigged by the 1%.
Oh.  Well, welcome to the Resisty.

Online Hydra009

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #22 on: January 29, 2021, 09:36:35 PM »
For now. I'm saying the longer term implications could be a lot more severe, as is generally the case when people play games with the economy.

You said it yourself; billionaires have been doing this for decades... and look at the economy... it's shit.
IF it backfires and IF it hurts regular folks, then I will of course dislike that.  Just like I've disliked that sort of poor-squeezing market manipulation a month ago, a year ago, and a decade ago.

My gripe is that people are reacting to this stuff in a negative way as if this is some new brushfire.  This is an ongoing inferno like Centralia and even if this goes as bad as you say, it's just a footnote to a failing, broken system.  Hopefully, understood as a wakeup call but probably not.

And my other gripe - nothing to do with you - is that some people are reacting negatively because the *wrong* people are profiting off it.  When billionaires sink small businesses and push people to the poverty line (or worse), that's normal and natural and a-okay.  When regular people sink a billionaire hedge fund, it's some perverse reversal of the natural order and morally wrong and should be stamped out.

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #23 on: January 29, 2021, 11:43:43 PM »
I legit love this.

Not only that, we're seeing "progressives" defend the hedge funds against the people.

I legit love that too.

Robinhood should rename themselves "Sheriff of Nottingham", since they've sided with the rich against the people.

Elizabeth Warren, who was always Hillary with a Bernie mask on, came out in favor of regulations to protect the hedge funds.

I'm actually agreeing with AOC and Cruz at the same time.  AOC can't stand that Cruz agreed with her.  Too bad, bitch.

Although I do not like what Robinhood did, I like how it was yet another "tipping hand" moment of the elite against the people, and I love that too.

There's so much good about this.
White privilege is being a lifelong racist, then being sent to the White House twice because your running mate is a minority.

No Biden, no KKK, no Fascist USA!

Online Shiranu

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #24 on: January 30, 2021, 03:37:55 AM »
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There's so much good about this.

If that doesn't raise some red flags, I don't know what will.
“The great appear great to us only because we are on our knees. LET US ARISE!” - "The Rebel", Texas' Premier Socialist Newspaper, 1892

Offline SGOS

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #25 on: January 30, 2021, 04:13:01 AM »
I legit love this.
Not only that, we're seeing "progressives" defend the hedge funds against the people.
Republicans and Democrats both prioritize the needs of the wealthy first.  That's who they golf with.  There really isn't anything new here.

Offline drunkenshoe

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #26 on: January 30, 2021, 05:09:03 AM »
IF it backfires and IF it hurts regular folks, then I will of course dislike that. Just like I've disliked that sort of poor-squeezing market manipulation a month ago, a year ago, and a decade ago.

Far more than a decade ago probably. If this was a popularity contest, you can bet everybody would LOVE it. If you mean the show that went down, the fear the rich felt? Yeah, it is lovely. Fuck the rich with a barbwire dipped into some nerve agent. I have written a week ago what I think about wealth.

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My gripe is that people are reacting to this stuff in a negative way as if this is some new brushfire.  This is an ongoing inferno like Centralia and even if this goes as bad as you say, it's just a footnote to a failing, broken system.  Hopefully, understood as a wakeup call but probably not.

Was there a different system before or the system has been like this from the beginning, but people has just caught up with it when it became clear where this was going? The system hasn't failed, this was the system all along. "Beat the system, good for you!"

Along the way, people were carefully taught not to even used the word 'capitalism' while criticising this 'broken' system. Because it is the air, do you acknowledge or criticse the air while you are breathing it, right?  I have written this a couple of times here. Not something I thought of consciously, no. It was something random I noticed years back while reading about American essays, articles, blogs...on the system; economy, class, culture... you can find everything in those, but the word capitalism. It's removed form the vocabulary of the last generations. It's exactly what's happening here.

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And my other gripe - nothing to do with you -is that some people are reacting negatively because the *wrong* people are profiting off it. When billionaires sink small businesses and push people to the poverty line (or worse), that's normal and natural and a-okay.  When regular people sink a billionaire hedge fund, it's some perverse reversal of the natural order and morally wrong and should be stamped out.

OK, fuck morality. But then you are the one who is actually being moral here because as far as I understand, exactly the same game is being played and you are just picking sides, which I agree with you but it doesn't matter because it is very easy to feel that way, it is sparkly and heart warming. It's pink candy and kittens. So what we are playing here is now just 'it's their turn' game with the same system; huge amount of profitting changing hands.

You can't eat your cake and have it too. Because if GameStop can do this, if somebody can profit the same way from this in this amount of time, now that's the big game candidate in town and after a certain amount of time, it will be the new 'evil'. There is no other way this can go as long as this kind of profitting goes.

In that case, what can go bad, will go for the worst, if it does. The profile of smallest life units in the US; hard working people; singles, youngsters, couples, families... the life style of ordinary people is NOT tribal because the society is driven for individuality. The motto for everybody is for themselves has become a cultural motto beyond the wild economical side of survival. And people are less likely to come together and look after their own, each other just out of caring. Yes, of course tons of people will do it thinking they have to, but it's a strong cultural conflict, a cultural depression in individual and mass scale.

And add that the pandemic, the political situation in the country, easy access to guns...How much does it take for an individual to be recruited by some groups like Soveriegn Citizen or QAnon under these circumstances? Found new ones? In a country with huge space where life is concentrated around certain points, where you cannot move without a fucking car, but can live without cash, sitting on a pile of weapons and arsenal. What was the amount of people who had 500-1000 dollar ready cash in their pockets before the pandemic in the country? Is my impression wrong?

You are gonna fuck the rich? Have the balls and guts do it without becoming another one, if you are going to call this a 'revolution'. Because otherwise, you are either too stupid to understand what is going on -highly unlikely considering what they do- OR you are just the same corrupt piece of shit with less money for now. Yeah, the answer is B.

These people are highly likley -in core- the red pill 4 chan groups who is playing the Boiler Room, imagining themselves as Neo in the Matrix. And the rest is following the money. And nobody is at the wheel. I even started to think there is no wheel and when things are really broken, it is ordinary, hard working people around the world will be fucked. The rich will remain rich.
 
« Last Edit: January 30, 2021, 05:22:23 AM by drunkenshoe »
"I believe you find life such a problem because you think there are good people and bad people. You're wrong, of course. There are, always and only, the bad people, but some of them are on opposite sides." Havelock Vetinari

Offline drunkenshoe

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #27 on: January 30, 2021, 05:09:53 AM »
If that doesn't raise some red flags, I don't know what will.

I was just about to write that. :lol:
"I believe you find life such a problem because you think there are good people and bad people. You're wrong, of course. There are, always and only, the bad people, but some of them are on opposite sides." Havelock Vetinari

Offline drunkenshoe

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #28 on: January 30, 2021, 05:23:40 AM »
Republicans and Democrats both prioritize the needs of the wealthy first.  That's who they golf with.  There really isn't anything new here.

You cant deny that it's entertaining to watch his 'reasoning' and lack of self awarness though.
"I believe you find life such a problem because you think there are good people and bad people. You're wrong, of course. There are, always and only, the bad people, but some of them are on opposite sides." Havelock Vetinari

Re: Reddit Shoots GameStop Stock up 2,752%
« Reply #29 on: January 30, 2021, 09:16:58 AM »
I have always thought there is a big difference between those who have managed to work within the skewed economic system to benefit themselves and their families and those who actually control the system and make the shitty rules. If you take the time to learn how it all works to your benefit, you are doing your part toward equalization. You can 'bend the skew' back towards your own favor, and here we see that happening. Some underdogs will do very well. The whole 'FIRE' concept is a sound strategy that has a historically high probability of success.

The only reasonable alternative to this (as I see it) is a slow democratic revolution towards a socialized democracy where all people can benefit more equally from the economy. The 'Nordic' model appears to work well.