GME Thoughts

[Hombre]

What are everyone's thoughts on the reddit short squeeze on Gamestop, AMC theaters, etc?

[airbud7]

David vs Goliath!

I hope David comes out on top again in this story.

[Hombre]

I agree with that but I'm very doubtful that will be the outcome. Goliath donates to every political party, Goliath funds the apps that democratize trading, and Goliath is a small number of people making it more agile and quicker to adapt.

[Penguin]

Maybe the exhibition of how ludicrous and malformed our financial machinery has become is the biggest plus to be had here. Those of us who have followed this Franken-monster for a while knew this already. Many do not. This is a good example of how much of a casino it has become.... should a casino be deciding the future of your civilization?

Another big picture plus is to show how ridiculous and out of touch the current philosophy of a "free market" has become. It was always wrong, now it is laughable. Power scales with money. THAT is why you enforce monopoly laws ruthlessly: to prevent anyone from becoming so big and powerful they can buy your government. Libertarian ideals are what has allowed this faulty mindset to flourish. Allowing the market to do what it wishes and hoping government will go sit in the corner and be quiet has not and will not work.

The thieves buy their freedom, as in this case.

Will

[BarryBobPosthole]

Willy is right. The only thing I disagree with is this system hasn’t ‘become’ anything. This is the way its always worked. When what happened with Gamestop is done by the nude socks clan its called a ‘correction’. And its been done numerous times. What’s the difference in this and having an oil tanker go down in south Buttfuckia and every oil and gas stock trader on Wall Street jumps in the market because that’s the signal that the oil companies are about to raise the price of a barrel of oil. And if you look at the daily EIA reports, inventories didn’t move a nanofucket.

It is a game. Its always been a game. And I would advise anyone against trying to play day trader or short seller, I don’t care how sure of yourself or your information you are. It might be wise to hear the old truism: There ain’t no such thing as a free lunch.
BKB

[johnboy]

There is always a free lunch for some people. The rest of us pay for it.

[Hombre]

This one gave me a chuckle

12325

[Penguin]

Maybe Posty, maybe.

But 90% of this crap was illegal 50 years ago. By mutual consent our political parties pulled the plug on the 30's era safeguards. They were paid handsomely to do so. There was always fuckery but it was of a lower order of magnitude.

And we didn't have the Fed permanently bailing out investment banks and other assorted swindlers... Now we do.

Ah well, no use worrying too much. If they even tried to clean it up it would crash the system. It would be really painful, to everyone. So we accept an ever lowering standard of living instead. Until the political backlash precludes that I'd guess we'll maintain course whether it gives me high blood pressure or not. :)

Interesting times.

[DeputyDog]

It sure seems the system is rigged. These same hedge fund managers are the talking heads on the financial networks who tell you how bad a stock is after they decide to go short on it, therefore driving its value down to ensure they make money. Then when another group goes on a platform to talk up a stock and they look to lose a lot of money it’s not good and they try to shut them down.


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[Chicken Dinner]

Never try to steal from a thief. They’re a lot better at it and tend to take the competition as a threat.


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