all 7 comments

[–]ElectricSheep 8 insightful - 6 fun8 insightful - 5 fun9 insightful - 6 fun -  (0 children)

nooooo only corpos are allowed to manipulate the market we need a bailout reeeee

[–]bobbobbybob 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (0 children)

the stock market AIs are all having meltdowns. I wonder how wonky the automated picosecond trades are getting.

[–]Akali 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

The media don'T understand shit to the stock market. people buying stock doesn't hurt the stock market. It's just a price bubble and its small players who might lose money if they don't sell early enough.

[–]x0x7 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (1 child)

Well it is. But that's ok. Stock is a stupid investment vehicle our society needs to start backing away from.

If only lending via banks still had some utility. The Federal Reserve killed that. Back in the day you could invest just by putting your money in your bank account. There was zero risk. Guarenteed return. The people deciding where to put the money were knowledgeable and a company's ability to attract new investment wasn't hinged on emotional trends generated by low information investors.

But no. Interest rates had to be driven to practically zero by the Fed, and banks no longer value depositor's money because they can get money for free from the Federal Reserve.

If having Joe Schmo be heavily influential in the stock market is dangerous, maybe you shouldn't have fucked with his bank account.

[–]madcow-5 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I remember opening my first savings account when I was like 16 or whatever, being so excited to know I would earn interest, only to find out interest was a whopping 1% or so a year. I couldn't figure out what the purpose of a savings account was at that point. The grand or so I had was every bit as safe balled up and hidden deep under my bed, and I would have access to it if I needed to spend it.

[–]PencilPusher55 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Normally I wouldn't side with the media but how is this not true? If these big firms of funds whatever - are liquidating their assets to cover their shorts, will this not entirely fuck anyone else over?

Also - Most of the people I know who are doing the GME thing have ZERO idea what's even happening and are chasing it, much like doge coin or BTC. Couldn't this lead to a collapse?

I get the point they're going for but GME really was a dying company, why wouldn't you short it? After all - Those fuckers on WSB's were creaming in their pants back in feb / march just begging for the market to tank and killing it on their shorts. So after they do a huge pump / dump (That's what it is) and cash out, they'll also double down and short the market when it inevitably fails from this? It's like - how are they the good guys?

It honestly seems to me that the only people who are really going to get hurt from this in the end are the normal investors. The autists and wallstreet will be just fine.

[–]send_nasty_stuff 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Normally I wouldn't side with the media but how is this not true?

It's still a bad faith argument. The media are saying 'it's extremely dangerous to the stock market' because they want to protect their owners not because they want to avoid a financial meltdown. If taking down one hedge fund can really destroy the entire system then it's too weak to exist anyway and should be replaced with something else.

The reality is that the stock market isn't strong or weak in the traditional sense at all. It's not a market at all. It's a fixed game and the anons are exposing that. These anons aren't trying to make money they are trying to cause extreme chaos because they rightly identify chaos is the only way out of the slave state.