Occupy Stonk Street (The Jimquisition)
So there's really only one thing to talk about this week, and that's the whole mess that happened with GameStop and Wall Street. It's pretty much a perfect look at the wider problems we regularly discuss.
When the ultra wealthy find their positions challenged, they have little problem demonstrating that the free market is only free to them, and that all their shaming lectures about how you should invest are total garbage.
The whole system is a bunch of made up nonsense, designed purely to ensure the elite stay elite at everybody else's expense.
Comments (13)
Victorian Tits for commentocracy refresh?
Tits out for stonks!
Get your tits out friend. I don't support this channel because I expect the Pog Fucker to keep those sops on wrap. I expect my gratitude to a creator to be unto the creator. So your call home slice. I'm here for it.
What are you thoughts: About A mod where people can have Indecent fantasies about you.
Such a good video James Stephanie. Absolutely correct about this whole mess: capitalism is only for the rich and anyone who isn't already rich who tries to muscle their way in will get the full weight of the rich and their lackeys (the federal government) to stomp them out.
I grumbled at first about a non-game vid.... but the quality of this one is so good I'm on here wondering "What would it take for Jim to be able to hire a cowriter/researcher to do a second show in the week about corporate/social shit?" I'd kickstart that
But isn’t that basically The Jimquisition, just substituting “triple AAAAaaay games” for “big corporations”?
This video is the sexiest thing I've seen in weeks. Joy is sexy. Silliness is sexy. Calling out Wall Street's bullshit is the sexiest.
dat "Stonk" jingle tho haha
I think most of your points are correct. At this point, the stock market represents the 20% investor classes who own 90% of all stock. This is super elite and largely does not reflect market fundamentals. It is why 500,000 Americans can die and the market shoots up. This has nothing to do with short selling. Short selling is a very limited and very important tool that people can invest in. This does involve quite a lot of risk. Some say is the most risky investment but I don't share that belief. It isn't just for billionaires and it definitely isn't about hurting employees. The whole point is that employees are already hurt or you think they will be so you short stock. It is a cause, not an effect, of a company hurting. If you dont believe that the gamestop ceo is going to turn around an utterly failed business model such that it won't bankrupt the company, short. This has nothing to do with how a manager or corporate culture treats employees, at least not directly. But your larger point about market manipulation is absolutely true. Micro trades drive a huge amount of trading and those are just algorithms and extremely dangerous. When they go wrong, you lose 2000 points on the dow in an hour. This absolutely points to huge problems that the SEC really needs to address but ironically, short selling is not one of them.
One other reason the market doesn't reflect fundamentals, is that bots do the majority of the trading these days. Algorithms fight each other to the death, run by HFT (often supported by hedge funds) and it's more battle bots than free markets. Again, the SEC should have done something about that 20 years ago, but the markets were too busy making money.
titquisition
Your tits are political now :D :D