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.
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.
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.
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.