It's good because it's showing people the benefits of class solidarity.
We just brought Robinhood to 1 star in the play store in like an hour. We're breaking the back of some hedge fund - the proles are learning their true undivided strength. Doesn't matter what arena the game is being played in, what matters is people are both seeing that together we can decimate these fucks AND showing what ridiculous lengths those same fucks will go to in an attempt to preserve their status. Forcing their masks off while everyone is looking.
I literally think these are the tiny cracks that open the flood gates
We just brought Robinhood to 1 star in the play store in like an hour
they're probably the most deserving 1 stars ever. what other app has lost people millions like this?
Why is the apple app store rating not changing. I swear I gave it a 1 star and I went back to look and my rating was gone.
its a little more complicated than that... its not good because proles are making money... there's potential for them to lose a ton of money as well.
its good because it puts the contradictions of capitalism on display for everyone to see.
A couple of rich guys might lose billions but their standard of living won't change much. Tens of thousands of poor people to put a couple hundred bucks will lose everything and won't be able to buy groceries. This is going to end badly for all the people who got in yesterday
youre believing all the cnbc meatheads who’re saying there aren’t any ‘fundamentals’ behind the move. It’s total bullshit, GME was a very sound and simple investment strategy if combined with the power of 3 million people.
Also a couple of rich guys might gain millions from this
Its hard to see this as the rich are losing and the poors are winning
Some rich people are losing, others are gaining. Some proles are getting rich, others are not.
there's a lot of rich people making a lot of money off of this too
I think this is definitely gonna be a radicalizing moment for a lot of people, but I'm really curious to see how many are gonna be radicalized like "the stock market is a joke, and capitalism deliberately fucks over the working class" and how many are gonna go the /pol/ route and start ranting about muh banker jooz or whatever the fuck lmao
The radicalization effect is far more valuable long-term than the actual transfer of wealth, especially if they try to legislate their way out or continue with the blatant manipulation of the market. Seriously there are people who intend to pay off their soul-crushing debts with the money that they know is theirs, if they get fucked over by wall street there are going to be riots I swear to god.
They'll probably have a floor for buy-ins for these apps to keep the rabble out...and then raise the retirement age for your 401k's and double the management fees.
Still though, this entire fiasco is legitimately funny. Too bad half of the people being radicalized in this might break to the hard right and start aiming their anger at "globalists" and "bankers."
If you don't see this as a uniquely radicalizing event I don't know what to tell you. God forbid we get close to anything remotely resembling class solidarity. Sometimes it feels like the only thing the online left excels at is scolding people out of wanting to get involved with it lol.
I don't see it cause most of the chuds with capitalism brain go "see this is crony capitalism, in REAL capitalism i would have been a millionaire by now"
Oh so everyone is a chud? got it, that makes sense. thanks for the thoughtful clarification comrade.
yes, everyone that says the above is a chud, i'm happy to be able to clarify, maybe you should also start talking to these people like i have and see how many confused proletarians are among them
Ok but that's where we come in, we are the ones who turn this from general disillusionment into actual class consciousness, honestly I think WSB is far more ripe for radicalization than most people here realize.
I'm sure some proletarians are making money, but the real wealth gains are for the whales who were rich before hand. Or do you think Elon Musk supports this because le epic reddit pwn?
I cant say whether the proletariat is gaining money, but the rich are losing money, and that alone is good.
yeah, it's being transferred from billion dollar hedge funds to trillion dollar hedge funds
What proletarian is getting money from this? Give me some of it then.
There was the guy on the front page of WSB the other day that put his last $1000 into GME because he needed $4000 to pay for surgery for his dog.
Edit: he made enough for the surgery and sold
For fuck's sake, be more skeptical, it's literally dog surgery. That smells of reddit bait.
Okay sure, anything on the internet could be fake, but is it really a sob story if the guy successfully makes the money? One random guy making $1000 on this crazy stock rush hardly beggars belief.
Yeah, sure, but literally putting it to and prioritizing a 'dog surgery' is basically just saying 'hey reddit give me medals for my sad pupperino story'. It doesn't beggar belief, but it is clearly manipulative towards you feeling positive towards this narrative. It also creates a 'first world problems' vibe.
If you have other analysis on why this is good, sure, share it, but this kind of sloshy bullshit is just a weird morality narrative. You don't have to be totally cynical, but for Christ's sake if a 'dog surgery' is someone's largest issue then others will see that they probably are doing fine otherwise in this capitalist hellscape.
if a ‘dog surgery’ is someone’s largest issue then others will see that they probably are doing fine otherwise in this capitalist hellscape.
Getting bankrupted because your pet is dying doesn't mean you are "doing fine." If you view your pet as a family member, then that's really fucking serious.
I don't understand why people benefiting from this short squeeze has made people so fucking callous here. It's really gross.
There are literal children dieing everyday of malnutrition. It's not that this has 'made me callous', it's that you are all celebrating like this is the end of capitalism and all the problems are fixed. This is a pimple on the flies asshole.
sighs You know what, maybe austerity politics has brought out the worst of me, and I should celebrate even the small wins here.
But without further action, these movements feel pointless. Without organization, its just individuals within the market. We may as well celebrate lottery winners, say buying lottery tickets is praxis, and tell those feel-good stories.
People are making jokes about hedge funds getting tanked and some of their wealth getting redistributed. Some people are getting bailed out from extremely difficult situations. It's not that deep.
But without further action, these movements feel pointless. Without organization, its just individuals within the market
Yes, I think need a revolutionary Marxist-Leninist party. But this short squeeze has cost the bourgeoisie more than any mass action I've ever been a part of. Half of Robin Hood accounts own GME, and the median Robin Hood account has no more than $1,000 on it. This money is going to back to the poor.
We may as well celebrate lottery winners and tell those feel-good stories.
Lotteries are built on poor people buying into them and losing. This short squeeze is built on forcing hedge funds to pay off poor retail traders (i.e. working people) at extraordinary rates.
You could say the same of the 2008 financial crisis. 'Costing' the bourgeoise is materially pointless without actually affecting the ownership of the means of production. As good as affecting the tail that wags the dog is, the dog still exists.
It still feels like we are celebrating a lottery victory. Yeah, we got one over on the hedge funds, but they still have their hands firmly at the wheel.
This is much different than the 2008 financial crisis. We are seeing the inflation of Capital largely owned by retail investors. In 2008, we saw the deflation of Capital largely owned by retail investors (houses). It is literally the opposite situation.
But the market as a whole was affected and 'lost' alot of value for everyone involved except those that shorted, at least that's my understanding of it, though I am probably wrong.
Regardless, that is besides my point that if the actual means of production remain unaffected, than this is pointless and very little power at all has changed hands.
Edit: I've seen you talking about an Occupy pt 2 style movement on other threads. If that is the end goal and the point, then I can get behind it, but otherwise I will remain skeptical to this entire thing.
That's nice but aren't all those shares locked by robinhood right now?
The same ones making money off of Herbalife. Hey, speaking of, you like communism, don't you? Haha, 'daddy Marx', am I right? Well, what if I told you there was a way to own your own means of production
The rich are losing money
That's not completely true though, there are a fair number of rich people gaining from this too.
This isn't poor vs rich, it's:
- poor
- petit-bourgeois
- some rich people
vs
- a specific few poorly-managed, hubristic hedge funds who didn't expect to be squeezed
There’s a number of rich hubristic hedge funds who are long GME derivatives too lmao
The worst thing is seeing billionaire sssholes like Elon musk and the winklevoss twins and other venture capital Silicon Valley ghouls going off about how this is sticking it to the man. Nice try but that won’t save them from Central Park
people truly don't understand how stratospherically wealthy the few wealthy are. even the guy who started this had 50 million total yesterday. like, that's 1/4000 of elon musk. that's 1/20th of a billionaire. and there are maybe a few whales like him before a long distribution on the way down.
WSB is like 5% of the GME holders, assuming any of them are realised, the rest are other hedge funds like Blackrock, lmao
trillionaires squeezing money out of billionaires that get bailed out anyway are the vanguard of the revolution
:PIGPOOPBALLS:
