• EatTheLibsToo [comrade/them]
    ·
    edit-2
    4 years ago

    Strong doubt, and I'm VERY surprised so many chapos are just gobbling this up. I'm not sure how much exposure Goldman will have to these funds when their margin calls fuck them to death, but they're almost certainly just hyping up the risk to pressure the government into crushing the GME hold to get back to business as usual. This is barely a blip on the rest of the financial industry's radar outside of shorts, and it certainly won't create the market-crashing waves people are hoping for.

    Obligatory I'm not a WSB cunt and I hope that the market dies itself to death.

    • hexaflexagonbear [he/him]
      hexagon
      ·
      4 years ago

      Yeah this is definitely just fear mongering. The hedge fund that went under did so with like a $10 billion loss or something, just seems like way too small or a fish for the ripples to cripple the financial system. I more find it funny that on the off chance that this does happen it's, yet again, the irresponsibility of having these risky financial instruments.

      • EatTheLibsToo [comrade/them]
        ·
        edit-2
        4 years ago

        Yeah man it's insane isn't it, and they keep on making more of them while wanking off over their genius. Banks creating debt by borrowing from future economic growth was an absolute death sentence for the global economy but they all just keep on patting themselves on the back at how smart it all is, and will be patting away right up until it all implodes

    • congressbaseballfan [she/her]
      ·
      4 years ago

      Counterparty risk (leverage that blew up on them) caused 2008, so it’s not an unreasonable take. We actually came close to it on Wednesday; hence clearing firms putting in place requirements that forced a number of brokerages to freeze purchases.

      Had that happened, it would probably cause a very brief but severe flash crash, until whatever entity collapsed got bailed out the next day

      • EatTheLibsToo [comrade/them]
        ·
        4 years ago

        The scale of counterparty risk within the dogshit CDOs combined with the sheer volume of them in 2008 is orders of magnitude larger than this though. A flash crash wouldn't come close to bringing about the change prophesied by the people claiming it's all coming down

        • congressbaseballfan [she/her]
          ·
          4 years ago

          Right; that’s why I’m saying it would be a flash crash, it would cause temporary panic, but then there’d be a bailout and it would bounce back, unlike the systemic unraveling of 2008

          • EatTheLibsToo [comrade/them]
            ·
            edit-2
            4 years ago

            I was responding mainly to the part in your first comment about it not being an unreasonable take and I misinterpreted, I didn't realise you were talking about what Goldman said. Sorry, I must have jumped to it cos my tolerance for bad takes on the GME stuff is wearing super thin - I'm in a group chat containing some right wing fuckheads and call options and market crashes are their new favourite things to talk absolute bollocks about, so this week has been non-stop cringe and wanting to scream

    • kronkfresh [none/use name]
      ·
      edit-2
      4 years ago

      Believe me when I say I need that money too, but its a small price to pay if this does actually crash the market in a big way. 2k is two to three months of security as long as literally nothing bad happens. Then I'm right back to square one.

      Fuck them. Fuck the market. Bail out the banks AGAIN motherfuckers :sicko-yes:

    • Not_irony [he/him]
      ·
      4 years ago

      Don't need stimulus checks if money is worthless. Just need to be within walking distance of a grocery store and have a, huh, group of friends

    • Collatz_problem [comrade/them]
      ·
      4 years ago

      You'll get 1400 dollars, but by that time they would be worth less than paper out of which they were made.

      • post_trains [he/him]
        ·
        4 years ago

        This is the unfortunate conclusion of money printer going brrr and giving it all to the financial sector and big businesses instead of giving it to people to spend.

      • newmou [he/him]
        ·
        4 years ago

        A total of $1400 for each individual enrolled in a Coursera coding course, allocated in micro allotments dispersed quarterly between now and 2026

  • maverick [they/them]
    ·
    4 years ago

    Looking forward to getting laid off because my employer's profit decreases by 1.3% :agony-limitless:

  • emizeko [they/them]
    ·
    edit-2
    4 years ago

    "I want to get paid for betting that something will never happen"

    [thing happens]

    "this isn't fair!"

  • luigi [he/him]
    ·
    4 years ago

    I'm just waiting on the libs blaming this on Russia (they probably already have). "DeepFuckingValue is a Russian agent!"

  • Phish [he/him, any]
    ·
    4 years ago

    Geez I'm starting to think that if something this dumb can crash the whole market this system might be kind of stupid!

  • _else [she/her,they/them]
    ·
    4 years ago

    maybe, MAYBE if the entire market crashes, the billionaires should ask for 2000 dollar checks and not-actually-ever-going-to-happen rent freezes like the rest of us?

    or a firing squad?