Seriously fuck those chuds. They’re elitist, classist and ableist pieces of fuck.
Any of you remember the misc bodybuilding forum? It’s just like that reactionary shit-hole except with stock discussion
They're a bunch of edgy clowns but what they're doing is good (even if unintentionally) and we should talk about it and use it.
Judging by their posts about their frustrations with the economy and how the world is set up to screw them over, they're a prime target for leftist radicalization.
Additionally, they're proving to a lot of people that the stock market is utter nonsense, and now with Wall Street's panicked reaction it's a great opportunity to show "normies" just how rigged the system really is. They're very openly showing their hand right now, talking about somehow banning these things from happening when it's exactly what they do every day.
These things can be used to sow doubt within people. Wall Street is pretty blatantly saying "Only we should be allowed to rig the market", which is undeniably ridicoulus and a great tool to dent someone's belief in the system.
We should absolutely not stop talking about this, even if the guys at WSB are largely edgelords only in it to make money.
Yeah I really don't think we need to like, shelter ourselves from a relatively fucking light chud meme subreddit - I haven't seen people here endorsing or apologizing for their ableism, homophobia, etc. and that apologia can't stand if it does show up.
But from what I've seen, we've been examining the actions and the story, not joining their shittiness.
There are plenty of things the right or center can do that I'm gonna wanna see a lot of posts here about, building our perspective on something significant happening.
I also want to see posts about the loser bankers who are getting owned and trying to beg for an exception to the rules.
I doubt it will end up being as useful as you seem to think it will be, I think it’s just gossip right now that will be forgotten about rather soon. If it does end up being useful that’s awesome and I’ll eat my crow gladly.
Luckily even though i don’t like it. I’m not in charge of what can get posted here, so if people want to talk about it, they are obviously free to. I just tire of it myself
Well they hate rich fucks and now they have a bunch of money. Like overnight millionaires. We want them on our side. Someone has to fund the revolution.
Have you read their threads? They have a serious dedication to holding the line that looks a lot like solidarity and they specifically aim to fuck over investment firms. They aren't radicalized yet, but there are absolutely some prime targets among them. There are definitely some wealthy daytraders over there, but they're vastly outnumbered by thousands of basementdwellers who are tossing in their expected stimulus money. There are comments all over the place saying things like "I don't care if I lose it all, fuck these hedge fund managers."
I think this is going to a bigger moment than it seems. This is the first time I've seen so many regular politically disengaged people spontaneously come to the realization that they can challenge capital by working together. And if nothing else, one investment firm has already been sunk by this, so that's a net positive.
It’s about the opportunity. It always on leftists to bring people in. We can never rely on other people, but we can use their rhetoric to get them to see the bigger picture. It won’t work with all, but even me alone I promised some of my earnings are going to this site and I’m sticking to that.
They don't hate rich fucks, in fact they idolize them. Just look at how they slurp up every word from Elon's mouth. And now they're stanning Chamath Palihapitiya because he "joined" their cause with what amounts to spare change for him. What they hate are institutional boomers who stand in the way of their YOLO gains. And that's exactly what hedge funds like Melvin Capital are. They loathe the unwashed masses that are trying to eke out a gain in this casino. This is a once in a lifetime opportunity to take their lunch money and stuff them in a locker.
True for a lot of them, but not all. Just look in here we have a lot of people in on it. Like I said you can’t get everyone, but there’s room for radicalization.
I could honestly care less about /r/wsb - I just love watching these hedgefund managers lose their shirt and cry about it. It's the same energy as watching that clip of Chris Matthews crying when Sanders was winning about people rolling out the guillotines in central park.
The ghouls who are making money off of this aren't whining on twitter or to the media. I'm guessing it'll be like shock doctrine but for hedge funds buying out other hedge funds.
Bingo. Dingdingding. Parts of the high priests of Capital are engaged in cannibalism rn. Its just funny a bunch of gambling addicts are getting the spotlight and are revling in the attention
This whole thing has a real roaring twenties vibe (and we all know what came next). I don't mind going to the circus to laugh at the clowns, but I do find the number of people on this site wanting to 'get in on the action' somewhat alarming.
People are poor and the story involves what seems like easy money. I get why people are excited and want to get in on it, because it would be really nice to not have to feel dread whenever I think about how I'm going to pay rent over the next few months. Saying that, I'm also too scared of losing what cash I have to gamble it at this stage in the bubble
I very much agree . It's the same kind of draw that the lottery or gambling in general has - the potential of a life of material security (and even some comforts!). Even though the odds of success in engaging with gamemagedon are much higher than the lottery, for example, the luckiest proles might hope to pay for a few months of rent, pay off a chunk of debt, and even have an actual savings for accidents - this is good and a reprieve but not a substantial change in their material conditions. Meanwhile the luckiest capitalist ghouls will be making hundreds of millions. For those aspiring to liberate all of us from the ever-present threat of eviction and starvation, the time is better spent working to organize worker power and worker institutions to provide support and mutual aid.
I mean why isn't the economy collapsing?
2008 people in the US being unable to pay their mortages caused a global recession.
Noone can tell me that all rent and mortages get payed during this pandemic. Entire industries like tourism or gastronomy have stopped dead. many of those are smaller buisnesses but there are a lot of them and airlines ain't small. In general unemployment and underemployment is up so conditions for an overproduction crisis right?
I know states and central banks pumped massive amounts of money in and still are but it's strange how little is happening.
Yep. Whenever it involves cash money people get an itch that needs scratching. I'd say at least having the conversation openly so the more even headed folks can calm the fires a bit.
Bring back downvotes just for stock posts. I'm hoping this will all go away once the gamestop bubble is over. We do NOT want to bring WSB over here and we do not want to encourage people to gamble with what little they have. (And if you have more than a little, you better be giving ALL of the profit to the cause, not just """Some""" of it :stalin-shining:
can we stop talking about the funniest thing that's happened this year?
No.
yeah they also use the r-slur and f-slur casually all the time there.
Talking about autism in a negative light is common there as well. I hate the sub, it’s just a bunch of elitist dude bros with too much money. They seem to believe they’re hilarious though
They’re elitist, classist and ableist pieces of fuck.
yes they are capitalists
I don't know, I post propaganda there and get upvoted a lot. Posted something about the international bourgeoise being primarily white and am still more positive than the psycho screaming about it lol
It's fun watching them spite hedge fund managers even if they're bad people.
I own 3.7 shares of GME right now. I bought at $120 ish. I hate having to follow the discussion on the stock subreddits but unfortunately if that's what it takes for me to get thousands of dollars from billionaires i'll take it.
I'm glad you guys are sane enough to be able to ignore them.
i just checked some thread there and it's a bunch of people stanning elon musk cause one of the companies getting hurt by the gamestop stuff also shorted tesla.
like hearing that gamestop is being equated to tesla should set off alarm bells, even if some funny stock shit is happening with gamestop right now. like it's still absolutely gonna go the way of blockbuster
They aren't equating Gamestop to Tesla in the way of value. They're saying the hedge fund that is known for shorting stocks has shorted Tesla previously and is now shorting Gamestop.
Elon tweeting about Gamestop brings more attention to it, possible drives the price higher. A higher price hurts that hedge fund
caveat: i dont know shit about investment
having said that,
even if some funny stock shit is happening with gamestop right now. like it’s still absolutely gonna go the way of blockbuster
a) ...is it, though? maybe it will, that's certainly what these hedge fund assholes were betting on. but what we're witnessing is, basically, what happens when a bunch of working class (yes, lots of PMC, but also working class) people just decide to collectively invest in that company overnight? I have no idea if there's even a precedent for this (I hope any comrades with knowledge of the financial sector will chime in). GameStop could literally revitalize simply because a blue and white collar class base decided to save it -- that would be fucking insane.
b) say GameStop does go the way of Blockbuster and fizzles out. unfortunate, but even still, it fizzled out in a way that transferred billions of dollars of wealth from a few aspiring ecofascists to tens and thousands of people, AND (imo this is the best part) did it in a way that illustrated the idiocy of a fully financialized economy that has completely decoupled from labor health.
c) regardless of outcome for GameStop, this is an extremely interesting case study. forget GME-- can you imagine if a working class constituency collectively invested in a company that actually had some meaningful agenda/purpose beyond just selling fucking video games?
again, i don't know shit about investment. i'll also add that the elon worship on that sub is almost worse than the ableist shit/please dont take any of what I just said as meant to coddle the chuds in r/WSB.
I get a strong Leftist & Boogaloo discourse vibes from all this. And just like said discourse, it's stupid lol.
More power to you, comrade! I don't want to start thinking about boomers complaining about stuff they don't understand. And I agree, we shouldn't align with WSB. But: This is a good thing, happening. Hedge fonds take money from small time investors all the time. Market manipulation and all. Here however, the small guy takes from wall street chuds. But not only that. This might change the stock market forever. The more people believe in taking money from short sellers, the better it works. Now, that wsb had their hands in Tesla and the whole GME thing, the mainstream notices. People see the pattern and can exploit it, something reseved for the rich before. When this thing is over, a whole lot more people are willing to jump into Nio or Blackberry and there is nothing the shorts can do about it.
We should keep it to the containment thread, tho.
In the end whatever is best for all oppressed people, I’m for it. So I’ll just stay silently annoyed by all the wsb threads.
I can be grouchy sometimes, sorry
Grouchyness is just missing serotonin, it's not your fault at all. Plus, I think you have a valid point, the containment thread is more than enough. It's just that it's very exciting and for many of us, it's the first time to earn money not from labour. Something that only the bourgeoisie could do before.
But it has a very sad side to it. The one in real need still have no way of profiting from this. Plus, this is an uncoordinated thing that connects millions of us. How can we achieve this so easily, when it's about personal profits but can't get up off our asses when it's about something really important where one might not profit from money wise.
You seem in the know. Those bandwagon-jumpers who only noticed this shit once it went mainstream, any idea where one of them might get started?
I use etoro. Robinhood is another alternative, but it's even shadier than etoro. If you want to start, I'd like to send you a ref link. I don't know what I would get, but I'd share 50/50.
I mostly like it as a practical illustration of how stock hype works, away from the obfuscation of "professional" stock brokers doing it. This is a lot easier to use as an example for people who think that the stock market is rational than Tesla for example, gamestop has been dying for years now.
Yeh, A) the stock market is reactionary, B) these guys seem like they suck, and C) I have no idea what’s going on with this situation
