>>1483452B-but the memes said it would happen! The posts! What about the posts!
Why do they even have a debt ceiling? It only provides media spectacle
>>1483471I don't know any of the history behind it, but if I had to guess, it was the old "Fiscal Responsibility" nonsense that the Republicans used to taut.
>>1483572Pretending that managing a national budget mirrors that of a household or a small business, especially that of the nation with the world reserve currency, is the most financially irresponsible thing you could do
>>1477060> I wouldn't do anything with the stock market personallyWhy not
>>1483867no shit. Mass global starvation within 2-4 years. if you're not doing permaculture with as many high calorie crops as you can then you're going to be fucked
>>1483890I live in an apartment so I’m going to have to spec into being a cannibal raider. I wonder how much mass starvation needs to happen before the stock market takes a hit?
>>1483452It will happen eventually. The bet is on which of debt ceiling crises becomes the first one
>>1483471>It only provides media spectaclethis is actually a vital component to the media cycle in american politics. the more nothingburger crises that develop, the more time is wasted focusing on them in the news and online, and the less likely that real issues have to be acknowledged, let alone addressed. the debt ceiling issue has been going on for about two months and really went into overdrive the past couple weeks - that is a healthy chunk of time during Biden's current term where actual issues did not have to come to the surface, as all the oxygen in the room was eaten up by this nonsense. these nothingburgers always happen like clockwork because they are a reliable and perennial distraction.
How exactly does the US dollar being the world reserve currency give the US the ability to spend so much? I keep hearing that all this debt buildup is possible only because the dollar has this property.
>>1484399They control production distribution exchange of the world's money
>>1484399Great question. Subjective value of currency means that it is basically a form of governmental debt to investors and people who own the dollars own the government's debt. What this means is that because every country has been forced to trade in us dollars, they have basically been trading US debt for things like railroads or factories. That makes it so that other countries have an interest in us economic strength because they are under the assumption that the more dollars they collect, the more debt they can expect to be able to collect from the us government in the form of cheaper trade deals or lobbyist efforts. This only works if countries actually continue to believe that the dollar has value as debt and assuming the debt will be repaid, which is why the idea of an economic default would be so devestating to the US economy, because countries would be more likely to just burn their dollars or trade them all back in with the USA expecting to get as much as they can get materially from it like a run on the banks. It's also why drparting from the gold standard was so dangerous, because the US stopped providing a safety net for the american economy in the form of gold that it could sacrifice in the event of an emergency. It's an open secret that fort knox is empty. Instead, the US started providing military protection to oil exporting countries in return for the oil to be sold exclusively in US dollars, and now saudi arabia is stabbing us in the back. So that's how that works.
>>1484399To conduct trade a country needs foreign cash reserves, which just sit there until they need to be used. Overwhelming majority of these globally are US Dollars, thanks to Bretton Woods system, and later the petrodollar. Hegemony of the US also means that a US dollar can bounce around countries, settling trade, without ever touching the US economy. For as long as countries need oil to run their economies, a $100 dollar bill printed by the Fed, a
promise to participate in the US economy, will simply lie dormant for years. And the US doesn't care, because it prints its own "cash reserve".
This system is upheld by American dominance, upheld by American military and alliances and brutalizing
anyone who dares to go against it. Saddam wanted to trade oil for Euros - dead. Ghaddafi wanted to create a gold backed currency for Africa - killed (by France, the #2 imperialist).
>>1483867How is El Niño anomalous?
>>1484971I guess because it is going to be much strong than years past? Not too sure. But the Finacial Burden that will happen is a real thing though that will cause much destruction. When this stronger hurricanes hit.
What's the chances of the Freedom Caucus being based retards and shooting down the debt ceiling bill?
>>1484974The real question is, how do we profit from this? It's not like we can call up a broker and short shoddily built Floridian houses
>>1483867>>1484974I guess this means the Colorado River water war is cancelled
>>1484971It used not be as frequent and with this much destruction. Usually it doesn't last over a year, now it does.
>>1484971You should buy all the toilet paper and bottled water you can find, just in case its bad
>>1485209That reminds me, I've been meaning to get a bidet.
>>1485288Well, you'd better hurry before they run out!
>>1483890I'll be doing slash and burn thank you very much
>>1484849>>1484907With Saudi Arabia questioning its allegiances now, will there be a military conflict considering its important role for the dollar? Or was oil on its way out anyways and it doesn't matter so much?
>>1485600>Or was oil on its way out anywaysoil is king, bruther
>>1485600Conflict with saudi arabia? Probably not, although their willingness to sell oil in local currency is an alarming trend for america
>>1484971Because the past hottest years ever registered in human history were La Niña years. El Niño is gonna be brutal. Like widespread hunger in "developed" countries kind of brutal.
>>1485700Not only that, but El Nino varies in strength and duration and all indicators are pointing to it being one of, if not the strongest, el nino in recorded human history. This could push us past a tipping point that destroys soil for decades. Once soil goes hydrophobic, it's really hard to restore it.
Why is the stock market so slow to collapse this time around? Is it all the liquidity and quick responses to bank failures?
>>1486623Tech and ai speculation is driving the market. The economy is still growing. Job report was way above bourgeois expectations. Powell isn't doing his fucking job. Inflation grew. More pressure is needed.
Is investing in Chinese ETFs a dumb decision? Most people seem to say yes, but I can’t tell if they’re basing that on reality or “le evil organ harvesting seeseepee”.
>>1486679Foreign investors don't have very strong rights in China unlike in the west, so it's possible you might lose out.
>>213072How many failed predictions of imminent catastrophe have occurred since this thread was started?
>>1486623Has printing actually stopped? As far as I understand, they just print a bit slower.
>>1485600>>1485600my assumption is that the saudis saw the US overinvestment in the russia-ukraine war as their go ahead to act now while the US position is unsure, spread thin, and they have some room to manuever. BRICS is obviously doing this now too. its an obvious good move but scary because who knows what the twilight of a frustrated US empire is going to look like when it is receding in every kind of influence except military
>>1486623I don’t think anyone
wants a market crash, so there may be greater cooperation between state and financial institutions, or perhaps a greater degree of fraud. I got a feeling that when things crash this go around, we’ll see a variety of toxic pustules burst in the market. Mass homelessness, unemployment, misery akin to 08
Been a while since I did a GameStop update. Why am I doing one now? Well, hopefully, its to provide more evidence for how insanely rigged the Stock Market actually is.
>inb4 "SHUT THE FUCK UP ABOUT GME"
Even if you don't invest in it, or don't think it's going to squeeze, what makes GameStop so amazing is you get a firsthand look into how much power market makers actually hold over stocks. And I think it goes a way towards explaining why we haven't seen an "official" recession despite there being a million and one reasons for the economy to crash.
Just to start things off: there's zero argument against GameStop, presuming a fair market. Zero. Zilch. There's not been a single technical analysis that would suggest GameStop stock is going to be worth less tomorrow than today.
Why is that? Well, let me explain. You've got a company that has:
>$0 in debt
>IIRC, $2 billion in assets
>Disposable Income
>Profitable
>A fanatical group of investors who support the company no matter the price
>More than half the Company's stock DRS'd and essentially not being sold.
The only argument against GameStop is "It's a dying brick and mortar" which isn't even an argument; it's a doctrine of faith. People are saying its dying because they simply wont accept the reality that it isn't. Anyone claiming the stock is "gonna go to $0" isn't living in reality; for GameStop to go bankrupt would take years. The people arguing that aren't being serious or engaged in anything material, just anecdotes and vibes.
Anyways; during trading hours things were pretty good today. We stayed above $25 for most of the day, even went over $26 a couple times. But the thing is, these big market makers use algorithms in order to completely buck reality. Today's earnings day, and I suspect we're gonna see another quarter of sustained profitability.
So of course, after hours, the price immediately shoots up to $28 and then drops down to $20 at the time of my writing this.
Normal investors can't trade After Hours.
GME is likely still profitable, maybe even seeing an increase in profitability.
No one is selling.
What you're witnessing here is literally just huge financial institutions rigging a company's stock in realtime. Even by liberal standards, this is an act of extreme illegality. These are literally just algorithms using finance loopholes to keep a stock from getting more valuable. The reason for that is because if GameStop does increase in value, then all these companies which shorted it before the huge retail sentiment saved the company would go under.
And the thing is, if we see a general recession, there's a good chance these companies couldn't meet margin requirements. Which would mean forced selling of securities to cover a huge position they irresponsibly gambled on.
Chances are they'd dip normal peoples' pensions to cover their own gambling mistake.
The next recession is going to hurt as many people, if not more, than 2008. All because these companies got greedy.
>>1492071SHUT THE FUCK UP ABOUT GME
>>1492074No.
Also in additional news, GameStop might end up buying BBY at a discount and rolling it into a sister company ("Gmerica"). It's already got a web3 games client too. It's gearing up to be a competitor to Amazon.
Shit's hype.
>>1492071Please read Das Kapital. It should be a prerequisite for posting in this thread.
>>1492100My whole point is that the price of GME is artificially being suppressed. When you've got a company that quite simply isn't allowed to go above a certain price range regardless of good fundamentals, it's no shock that in some cases you'd get a better return.
Still up +40% YtD however and retains the possibility of massive movements up.
>>1492090He's in the CPUSA apparently
If he reads Capital, a Democratic Party aide will bust into his house and execute him on the spot
>>1492071Is this an advertisement or are there real people on this chan who believe they should participate in this rigged market fraud instead of buying crypto, planting a garden or doing anything else of value with their time and money?
If you really can't think of anything useful to do, burn your cash.
That may be silly but at least it doesn't harm mankind by giving even more money to the worst scum of the earth.
>>1492074let her talk, it's interesting stuff
>>1492393maybe it's an advertising shill but if true it's interesting that manipulation can be so out in the open
spusaanon is a long time poster we can forgive their eccentricities
id be more optimistic about GME if they weren't betting their future on a NFT marketplace
>>1494759he is bullshitting people in order to lure gullible ones in. he is just a shill. There is literally nothing interesting in this.
This thread became a dumpster fire sometime in the last year
>>1503165Here's a Story about a little guy lives in a blue world. And all day and all night all he sees is blue like him, inside and outside.
>>1503203Blue his house with a blue little window and a blue corvette and everything is blue for him and himself and everybody around cause he ain't got nobody to listen to……
>>1504089Don't have time to watch seems interesting enough I suplose
loik the Myayan poposclspdyWhy in /crisis/
tho?
comrades, /ourtovarish/ Michael Roberts of the next recession blog was on The Geopolitical Hour of the Geopolitical Economy Report. The crossover we've been waiting for.
Anyone else remember when Michael Roberts seemed unaware of Michael Hudson?
>>1506593Comrade Truss has saved the Labour movement once again.
thoughts on airbnb collapse talk?
>>1519729needed to happen, like, yesterday
>>1519729Nice to see short-term rentals dying out
I refuse to take any lease that isn't guaranteed for a year at the
least
>>1544021> also fuck tomatoes, eggplant gang stronk.fuck off. Tomatoes are as red as the communist movement.
Every comrade of mine would prefer tomatoes over eggplants any day of the week.
federal reserve signaled its reducing or stopping rate hikes. the market is desperate for some good news so there will be talk of a dodged recession. to me, the risk of crash is greatest when the market believes it won't. if we see stocks continue to pump we could go down that path. there are also outside factors pushing for investors to store their value in stocks, like unprecedented inflation and the huge transfer of wealth from bonds to stocks as interest rates get higher and higher. For the next few months the key thing to watch is the rise or fall of inflation
>>1544181oh u didnt hear? recession has been cancelled bros
>>1492113delusional retard. Its been years since ive argued with you about this not going anywhere and you are still here years later coping and shitting all over this thread. How long before u stop kicking this dead can down the road?
>>1486935No. They resoomed printing billions when the banks were collapsing to stabilize shit again. They also slowed rate hikes temporarily then to stabilize shit.
Theyve chosen the hyperinflation path, fed prints and injects a few billions every time a market panic happens now to stabilize shit. Then market booms again for a bit. Its basically life support for failing businesses and banks, every time it flatlines fed is now doing a cash injection
https://archive.ph/8ONhTJapan finally ending yield curve control. They were the last market with low interest rates and unrestrictive monetary policy. This means the BOJ will stop printing massive amounts of yen to purchase their own bonds (this keeps bond prices and yields at a certain target). Bad news for western capitalism
>“It all depends on what happens overnight,” said Apollo’s Slok. “It will become very critical. For the last seven years we have not seen Japanese interest rates move around with the market. Now if they decide and allow JGB yields to move with the market then nobody knows how much JGB yields could go up when we wake up Friday morning.”
>>1556204Is this significant?
>>1556882Fitch isn't S&P though. My stonks look fine ATM.
>>1556897of course, long term, stonks are up YoY because the bond market is the worst in this countries history and thats where money has been flowing. credit downgrades will definitely be a factor in trying to time a recession.
>>1550093did anything come of this?
>>1556900imagine buying bonds, and seriously thinking that in 2023 governments are a better long term investment than corporations
(insert network speech)
>>1562216Ever since covid it really feels like everything is moving so quickly regarding geopolitics.
>>1562216Critical support for the anti-imperialist IMF
so wtf is happening i thought unemployment is low, how can jobless claims be up?
>>1563650To be classified as unemployed, you need to both be working zero and actively looking for work.
>>1544252The global economy has been on life support for since like 2008. The only (large)economies somewhat more stable are Germany from the West end and China from the East end. Of course if the EU ends then the country that will totally screwed is Germany because it essentially feeds off every other European country.
I look forward to the day that China-India-Africa are the dominant economies in the world with Latin America becoming the new Europe or West where everyone wants to migrate down south despite climate change.
>>1568883>And why is the whole gold thing such a boner for some people on the right?because they love the idea of the Alaskan gold rush even though it ended 200 years ago.
>>1568883I don't own any gold, apart from a few novelty specks panned from an old gold-rush site and however much is inside a smartphone. Nor silver.
>And why is the whole gold thing such a boner for some people on the right?- Has intrinsic value, as opposed to spooks like cash. Extremely low risk investment.
- Dense, so easy to store valuable amounts
- Won't expire or no longer be useful if kept for a long time
Also, historical and romantic reasons like
>>1568891 and others
>>1568892Gold is not really intrinsically valuable, successive western societies have treated it as so but that's not a universal thing.
As for being a good investment, it's probably not, stocks are much more reliable and easy to cash out. Gold prices have risen sharply in the last decades but that seems to be more to do with the general rise of conspiracy theories than inherent value.
Fellas, what are our thoughts on CBDCs? Specifically things like australia trying to go cashless and american walmart wanting biometric scans to automatically pay for products when walking in and out of the store. Obviously it's fascist and an attempt to control who has money and who doesnt, but will it really change the lives of poor people or will their lives remain relatively the same? My thoughts are that it'll effect the middle class the most.
>>1568896>Gold is not really intrinsically valuablewell it has some uses like in making certain chips/electronics.
>>1574382also the cost to produce it
>>1574349i guess it will mean all money is in banks, which would give a little extra fuel to the finance machine.
>>1574349There are two kinds of CBDC's, wholesale and retail. Wholesale is used by central banks as form of value reserves that are sanctions proof and instantaneous (multipolarista). Retail is what you describe, more for a consumer and business use replacing cash. On the bright side, nobody likes retail coins in places theyve been introduced, like nigeria, so cash will remain king for now.
>>1446721population crisis that's to come is the real inevitable outcome of capitalism, I really don't know how it will cope with that, since it has cope well with the rate of profit
>>1568896used to be true back in the 1400s, the case is no longer
>>1568973can you spoonfeed me as to why they've bought that much?
So whats your guys prediction for the us economy the next few years?
>>1579116capitalists love gold for different reasons we do. it's a low risk asset that can be liquidated instantly, it hedges inflation unlike regular currency and has a use value settling trade balances. don't get me wrong, gold isn't perfect, but if a perfect store of value existed we would all be using it
>>1580787more of the same tbh. stonks will continue to climb in lieu of the shittiest bond market in this countries history, furthering the crazy market overvaluation
a question, are those nft games garbage is even worth to make some money ?.
i hate this shit but i don't refuse easy cash.
>>1583651No, they're all pyramid schemes, the only way to make money is to be a dev or one of their friends who gets in early. Or be a third worlder grinding for a few dollars a day.
>>1580814What's wrong with bonds? Yields are at decade highs and of course stocks tend to inversely correlate with them, since one is considered a more defensive investment and the other the more bullish choice. It's a matter of where to park money.
>>1584187>It’s the Worst Bond Market Since 1842. That’s the Good Newshttps://www.wsj.com/articles/its-the-worst-bond-market-since-1842-thats-the-good-news-11651849380Bonds are tricky. Yes bond yields are up, but since bond prices and bond yields are inversely correlated, the sell price greatly lowered. We also have to consider what drives bond prices the most - interest rates. When rates get cranked up it lowers the value of existing bonds. The federal reserve keeps hinting rates will continue to climb and investors are forward thinkers. To top it off we have record inflation; If the yield on my bonds are 5%, and inflation is 8%, aren't I effectively losing value?
>When we subtract the new estimated income attributable to the Fed, and hold it at 2022 levels, this is what bank profits start to look like. Many banks are no longer profitable at all, and, when aggregated, big banks are making a measly 2% profit rate, largely propped up by JP Morgan Chase and Wells Fargo. Without the income from the Fed, Goldman Sachs, Citigroup and New York Mellon would be losing money hand over fist. >While the Fed has been forced to pause dividend payments to the Treasury, banks that would otherwise be unprofitable without direct income from the Fed have continued to make dividends and share buybacks, even increase them. In Q3 alone these banks, whose profitability has been assured by the Fed, sent $4.6 Billion back to shareholders>People should ask themselves, why does it have to be this way? Why do we have to abide by paying these people off in order to do basic functions of a central bank? If the only reason these banks continue to exist is income from the Fed, why shouldn’t they simply be expropriated?https://nicolasdvillarreal.substack.com/p/the-stealth-bank-bailout
I'm as lefty as they come but if you own crypto or silver/gold you're a finacially illiterate retarad. enjoy not having retirement savings
>>1587871Actually true. Just put it into a fucking savings account. Cash is king. The recession will prove this
>>1587875>cashif you aren't in total market funds you're doing it wrong
>>1587901Any leftist saying that one should own real estate is either a glowie or a cryptofash. read Marx FFS
>>1587933If one wants a somewhat stable income they're right.
>>1587937do you have amnesia from 2008?
>>1587945I didn't say buy a house a person cannot afford.
Most financially literate auntie fuh
>>1587948>>15879452008 isnt relevant because local zoning laws artificially constrict the supply of housing and prevent overproduction. Housing prices will continue to increase
>>1587988Workers can't afford housing as it is meaning housing prices rests on capitalists hoarding empty housing.
>>1587988you're right but its worth noting that most americans are locked in their homes. A big chunk of homeowners got mortgages at rock bottom rates, often 2 or 3 percent. Now that rates have been cranked up, most aren't looking or can't afford to sell.
Scampusa's hero Ryan Cohen is being investigated by the SEC for fraud
Does anyone else ever wonder why the majority of "entrepeneurs" always immediately try to set up a company that exclusively follows the corporate for-profit business model, rather than a safer and less likely to fail cooperative business model or a corporate non-profit business model? What's the psychology of people who want to be as successful as mcdonalds or amazon but who will never ever have as much success, and who will likely only be small business owners if anything at all?
>>1592516well what do I get if I set up a cooperative? I will work my ass hard only at some point to have to resort to state subsidies to survive. Nah, I am not doing this. I d rather gamble it all.
>>1592629Actually it's corporate enterprises which require state subsidies to survive. Coops are more efficient and the employees even in the starting stages have more incentive to ensure it grows into a stable career whereas corporate enterprises only become more difficult to manage as the work force increases.
>>1592409>ScampusObsessed.
>>1592516thats not what they get taught in business school
>>1592645where I come from, "football team association" knock your door to sell you "security" when you build a business. Police runs drug and prostitution rings. And strawberry growers use shotguns on immigrants with no papers when they ask to be paid. Meanwhile loan after loan and subsidies are given to certain corporations. Finally my father had to essentially compete with thailand and idonesia. Good luck competing with all that. I prefered to just leave the place.
>>1593636Just how desirable ARE corporate subsidies for business startups compared to a cooperative business model which is more likely to survive on its own merit? It might sound like a meme but one of the most famous cooperative businesses in the USA is the Navy Federal Credit Union, which is… a credit union, which is a banking cooperative. Basically the membership all owns stock in it and profits when the credit union profits in the form of being paid directly to their bank account. Compared that to corporate style banks like the bank of america or USAA and of course it survives on its own but it has more stability compared to traditional banks because its membership gains concessions in the form of profit share. Imagine starting a bank and thinking you'll compete with the big corporate banks. There's no fucking way youre gonna manage to do it. However if you start a regional credit union (they exist all over the place) youre more likely to at least have client loyalty compared to a shitty corporate for-profit bank.
everyone is suddenly like "Everything is alright with the markets, the worst have passed"
What does this mean?
If france is losing and fully loses Africa, french economy is fucked. But I wonder what is going to happen to real estate in France. Any ideas?
>>1594766they always say that before raising rates
>>1605697>As fiscal agent of the United States, the New York Fed conducts Treasury buyback operations when directed to do so by Treasury. Since October 2014, Treasury has directed the Open Market Trading Desk of the New York Fed to conduct periodic small value Treasury securities buybacks for the purpose of ensuring operational readiness.its not huge news but more of an indication of a wider trend
With public debt levels rising, how come the government doesn't invest in useful things to alleviate it? There are a lot of reports that if the government invests more in infrastructure, education, etc. then it will get many times the expense. It doesn't even have to come at a cost to the MIC or other groups that lobbyists represent, so why doesn't the government just do it? Is it just ideology and politicians really are blind to this idea?
>>1596943Europe will go full fascist again, as they were always destined.
>>1610993why invest in something like bridges and roads if its not immediately impactful on my political career? some schmuck down the line will get all the benefits and credit while im stuck with the bill. for example, this is why chicagos parking meters were sold to abu dhabi for a lump sum which was way less than what they would've made from the meters long term
>>1605697Fractional reserve banking in general is a confidence scheme.
US federal bonds have always been considered the safest investment and this isn’t going to change for the foreseeable future, BRICS posturing notwithstanding.
>>1605697Guys. This is an amazing idea. Why are you all crying? This strategic move is for the assured recovery of our economy. These treasury buybacks benefit all americans, as you will get more jobs and a higher quality of living. This is only happening because of the State's excess fiscal surplus, aquired from efficient tax and spending policy. This is an investment into YOUR economy.
>>1594766They're absolutely right. There will be no recession. Bidenomics has saved us all. Now is the best time to buy. we're going into bull territory.
>>1611013have fun with your worthless treasury bills when they raise rates again xD
>>1611017Looks like a Ponzi scheme
>>1587948Ok then what you’re saying is useless lmao, most people don’t have hundreds of thousands liquidated on hand
>>1616666why would someone make a bank out of a free newspaper anyway. what a shite idea
>>1616666everyone expects a few cracks in the financial industry when the cost of borrowing is this expensive
https://twitter.com/GRDecter/status/1709923829173080360
>Good Morning Everyone! I can’t believe I am saying this but the slump in 10-year and 30-year bonds is approaching the epic drops we saw in stocks during the 2008 financial crisis and the dot-com bubble bust:📉 10-year bonds are down 46% (vs. 49% for dot-com stocks)
📉 30-year bonds are down 53% (vs. 57% for 2008 stocks)
>Bonds are facing their own crisis now.
>>1617972how long is the recession going to tease us before it finally happens, this is getting absurd
Do stuff like this happen in Korea or China or Japan etc?
https://archive.ph/XtT7jDid neoliberalism really killed Europe?
>>1618724>Do stuff like this happen in Korea or China or Japan etc?usually, the subways get gassed by religious cults
>>1617973I was a young teenager when 2008 happened but in my own memory the recession was just "water cooler" conversation… until it wasn't. I remember I was in school and the teacher's pet was talking to him about the crash as it was happening.
Has the Holy Land conflict affected stocks in a noticeable way
>>1630634Defense industry stocks have been surging.
Thinking about how the economy was based on the principle of delivering endless objects on credit to people who've never intended on paying it. It's clear the endless expansion of credit is not an accident or contained crisis but the logical culmination of this economy.
>>1618724the bedbug shit is pure mass hysteria (bedbugs have been pesticide resistant for like a decade), it doesn't happen in asia (yet) because of a simple language barrier, but they probably will also be losing their shit about bedbugs soon
>>1450548 No most likely the CIA will black bag him like they did with JFK either before or after the election.
>>1451357 No China is still a socialist state as like 60% of is economy is owned by the state AND the "Independent" businesses within china are basically enslaved to the will of the CCP.
>>1466191I think it should also be noted that quite a lot of jobs are created by the government purely to prop up unemployment stastics and basically involve standing around all day doing fuck all or some extremely mundane task let pressing an elevator button so someone can use it.
>>1650036pretty cool GF, what stock was it?
>>1650094That sucks, sorry anon, at least you diversified… right?
>>1664099>Jewish banker is literally named BankmanThe writers have completely given up on subtlety, it seems.
>>1672089Vimm's Lair has literally just been sitting there for decades, untouched by copyright ghouls.
How ignorant do they have to be?
>>1672089>two year old videodale
If any of you fuckers are moving stock, might be worth seeing if you can short ZIM before a boycott protest.
>>1664099>bringing crypto under controlthese people have consolidated this new tech under the rich and will continue wrestling it until it is truly beyond their control
>>1675282ill eat quinoa instead
HOLY FUCKING SHIT SELL SELL SELL RIGHT NOW
>>1687654Pics or it didnt happen.
>>1695808inflate me mommy
>>1695808The Atlantic finds fresh unique ways to be awful every single day. I have to imagine its avid readers are extremely miserable people.
>>1675282>>1687653both will spike your blood sugar
>>1695808If inflation is a monetary phenomenon as Friedman days and I do not increase the money supply when buying any good nor service, how can I possibly cause inflation?
>>1699275Its the collective "you", y'know, the poor masses who depend on consumption
>>1699275unemployment is a lever the federal reserve to pull (coinciding with interest rates) that can achieve certain results. less people employed = more money circulating in the economy = inflation is tamed. in their mind, you're just a greedy anti-american because you asked for that raise a few years back
>>1699440>less people employed = more money circulating in the economyYou what now
>>1699445Most of the academic economics seems like narratives that porky tells everyone in order to promote raping the working class. For instance, that Phillips curve justifies trying to generate mass layoffs to slow inflation. However, inflation is mostly due to common sense human factors. Business owners realize they can jack up the price of subsistence goods without a government crackdown, parliamentary inquiry, or serious blowback. Competing business owners notice, and want to boost profits too. Now all business owners have price gouged subsistence level goods, and it’s called inflation. Workers express discontent, and now porky can say “well the increased prices are because of you demanding higher wages to buy subsistence level goods” and they propose a solution “we will generate mass layoffs to SLOW inflation”. It’s important to note that this occurs after prices have been jacked up to extremes, but before average wages have risen to match previous cost of living. The business owners who have monopolies on the subsistence goods like food, power, and rents have not actually paid their workers anymore. Those business owners have increased prices to increase profits. If there is a very serious inquiry they might temporarily increase a couple people’s wages, but immediately offset by layoffs. While food prices were skyrocketing the grocery corporations were reaping record high astronomical profits. Getting to my point, porky says they have a solution which is generating mass layoffs. They say the solution will hurt, but it’s for the good of the economy. They worry that if wages are increased then the new windfall profits regarding foods, power, and rents will be reduced, and they are intent on keeping the new astronomical record high profits institutionalized. If anything they will attempt to infinitely increase profits, and so the threat a spiral of wages increasing to afford subsistence goods, but porky playing chicken by increasing prices of subsistence level goods to maintain infinitely increasing profits. So to prevent the WORKERS *wink* *wink* *nudge* *nudge* from causing a inflationary spiral by asking for wages which can afford the profit gouged prices of subsistence level goods, porky generates mass layoffs on the basis that the ✌️phillips curve✌️projects will prevent further price increases. It is therefore used as a tool create economic insecurity across the board in order to force mass layoffs which are used to prevent workers from collective action that would prevent a decline in their material conditions. Basically, after mass layoffs there is now a labor surplus so when rehiring takes place porky has the upper hand in negotiations. Since everyone needs to eat, and it’s more difficult than ever to pay for food/rent/power without a job, the public is psychologically primed to be rehired at pre-price gouging wages and take the hit to their material conditions.
That is effectively the usage of economic sciences as far as porky is concerned. Capitalist economics is a tool for propaganda and class warfare. This is why you see all these economists make bullshit predictions every time which don’t pan out every time you look.
Bump. Market never crashed. Get fukt everyone, capitalism continues onwards
>>1699648If porky can just raise prices then why not raise them beyond what they are now? The market creates competition in pricing which stabilses at levels approximate to the real ratio of commodity volume; i.e. recorded in supply and demand.
Economics isnt just "made up"
>>1448560>Great Happeningelaborate
>>1700206They basicaly have been tho, atleast working in retail its super noticeable, these giant monopolies have pretty much all realized that if they all just slowly raise prices a bit at a time simultaneously we can't do shit
So 4th quarter implosion or what? Does this mid ass fuck market really about to go deep into 2025-26 how much more do we need…
https://www.poynter.org/commentary/2023/media-industry-cuts-top-20000-in-2023-report-finds/Media industry cuts top 20,000 in 2023, report finds>The news industry has seen 2,681 job cuts so far this year, according to a report by employment firm Challenger, Gray and Christmas released Thursday. That number includes broadcast, digital and print.>The news sector has lost more jobs this year through November than it did in all of 2022 or 2021. Media, of which news is considered a subset, has experienced 20,342 cuts, the highest year-to-date figure since 2020, Challenger reported.>Dozens of news outlets have executed layoffs this year, including The Washington Post, NPR, BuzzFeed News, Vox and The Texas Tribune. On Thursday alone, KCRW in Santa Monica, California, started offering buyouts, and Condé Nast announced layoffs at Wired, according to unions representing journalists in those newsrooms.
>>1701247Bullshit storytellers on demand replaced by AI or lower ad revenues?
>>1701618i wonder why people arent buying things
wtf
>>1701618This is kind of an odd example to use. They largely cut people from Wizards of the Coast, which makes Dungeons and Dragons and Magic the Gathering. This includes senior-level employees (notably Mike Mearls, co-lead designer for D&D 5th edition). This is most likely because they feel like they have finished their next edition "One D&D" where they are planning to transition from a standard tabletop game model to a video game "live service" model where they expect people to play entirely through their proprietary virtual tabletop app. They essentially see the situation as these people having outlived their usefulness as they start rent seeking on the product line without actually developing new things.
They also reportedly focused on the art staff in particular, likely planning to replace them with AI.
Was there a habbening today? Don't really care because I'm just a dirty broken lumpen on disability, but I also care a little becuz family & all…
Also fuck a tomato!
t. eggplant gang
>>1707650Bourgeois economists were saying that the stock market went too high so porky sold and stocks dipped. Sp500 went down like 1.5 percent after gaining for a while. It recovered fully today though.
Based on inverted yield curves which have been the most accurate in predicting recessions, there's a 57% chance it has already begun. It will be around 70% by February. By july of next year there will be a virtually guaranteed 99% chance or so of a recession.
In the extremely unlikely chance a recession doesnt happen by then, then the model has failed and that means the economy is in an even weirder spot than ever before. This is unlikely though as you can see job losses have already begun, they just will ramp up soon.
So here's your early warning. Buckle up boys, prepare to lose your job, eat bugs and live in a box for 2024.
Save your money as much as you can, line up some backup jobs or gigs, get some trade skills, or work in some recession proof industry. I will pray to daddy marx for you anons.
Even Fed porkies know shit is about to get real, which is why they said theyre cutting rates aggressively next year to try and save the sinking ship, but in a few months or so, shit might be too late.
>>1716026>work in some recession proof industryWhat would that be :D D D:D
>>1716029Donno man alcohol and education do good, guessing oil will be in demand always. Though no clue bro, its most likely ogre.
>>1716029Maybe psychiatry or just medicine in general? Human misery and suffering are not in shortage at all.
>>1716032sell drugs or bullets, everyone gonna wanna kill or numb themselves soon
>>1716026The economy is perpetually stagnant like Japan's. This tea leaves reading doesn't do much
>>1716036its not voodoo its correctly predicted the last half century's recessions given a statistical margin of error. Its basically saying that within 9 months the economys luck has all but run out with a 97%+ chance of a recession.
>>1716029Healthcare, insurance, utilities, accountants, debt collectors
>>1716057>All of those recession proofRiiight.
anons i have a question, how do i learn how to do investiments in stocks correctly ?.
from what i see investiments are the easiest way to earn money and i don't want me or my family in misery, so how i learn do do it ?.
>>1724077Stocks are kind of fucked at the moment because everyone is expecting a crash by 2026, meaning that either this year or next year there's going to be enough volatility for you to lose whatever investment you make. My recommendation is just to learn about all the investment options, look at the curriculum for financial degrees, do a lot of reading to understand how things work.
The normie route would be to just go in with one of the big investment firms like Vanguard, Blackrock, etc who are more likely to get insider knowledge and are basically unsinkable. Let someone with a finance degree manage your money for you. That's what rich people do and they stay winning over us proles.
>>1724077like the other anon said, stonks are fucked at the moment. whatever you buy will be overvalued, which can be good and bad, depending on the timing of when you decide to sell. in my opinion there are much easier and safer ways to make money and escape poverty like reselling bulk chinese B2B products and reselling them or buying tools and machines to learn a trade on. your options are gonna be different if you live outside the U.S though
>>1724077>from what i see investiments are the easiest way to earn moneyOnly if you have enough to initially put in
tho
>>1724077Just put everything into an index fund which tracks the whole market, there's not really any benefit to investing in individual stocks unless you really know what you're doing (even then you can get unlucky), yes you can end up making shitloads of money but you can also end up losing everything, an index fund will guarantee stable returns
Layoffs resume January. Google cut staff and their childcare center.
Ngl but its so grafifying seeing FAANG and techbro tears after they get laid off and cant find another cushy job.
>>1723155Did it have an upturn recently?
>>1726427Seeing all these white collar jobs being replaced by AI makes me feel better about going into plumbing.
>>1726427>Labor saving technology is THE source of our modern world's past two and a half centuries of prosperity.>prosperity>PROSPERITYLMAO, HAS THIS MOTHERFUCKER NOT SEEN DETROIT AND THE OVERALL HELLSTATE THAT IS MODERN AMERICA
MY FUCKING SIDES. MY FUCKING SIDES AHAHHAHAHAHHAHAHAA
>>1730571poverty in the FIRSTOID GARDEN doesn’t count I must SKULLFUCK ALL FIRSTOIDS TO DEATH
I will not rest until I alienate every post on the board and I am the last man on leftypol screaming SKULLFUCK WESTOID BABIES TO DEATH at which point I win
>>1726114I dont think anything is going to replace it either.
Actual vanishing of the well paid worker completely.
>>1731395Gardeners get all kinds of privileges, like being paid in us dollars.
>>1746593serves them right… they trusted an American!
>>1746593new 'stab in the back' mythos incoming
>>1726427I love how we hear claims such as this that technology somehow is making people "richer" and translate a growing economy as prosperity for all. None of this matters if we're not talking about wages. Literally econ101 on wages tells you everything you need to know, there are nominal wages and then real wages. Nominal wages have grown but real wages have absolutely tanked for decades.
>>1746593america destroyed japan, and is now cannibalizing germany.
lol
So, what's up with New York Community Bank ?
>>1747558just bad office building loans, same with Aozora
This is total vibes based bullshit, but I feel like the economy is about to have an epic meltdown any second now. Things are so far past untenable I'm not even sure how we are still functional as a civilization.
>>1747806Since 2008 the economy was running on basically free money as the fed pumped out more than a trillion dollars a year in loans, and that basically came to a halt with covid. Tech companies are already feeling it since they were never profitable to begin with, so now these big bloated mother fuckers like Uber and Airbnb and Netflix have to start making aggressive cuts, layoffs, and other serious changes to stave off the inevitable. At this point it's just a waiting game to see which fallen domino knocks over the house of cards into checkmate.
>>1747806people betting on nvidia have priced in the singularity coming next year
>>1747806debt and credit cards, I'm so serious, almost every retail chain has em'.
>>1747875You used like three or four expressions mushed together into one colloquialism chimera and it scares me.
You're right though. Probably, if what you said is what I think you said
>>1748130Sorry, I have a very sexy learning disorder.
is it happening?
>>1748178It's always happening
>>1746593What exactly are these manufacturing companies that are popping up?
>>1748513idk prolly chemicals. or batteries
>>1726427>>1730561he's not wrong THOUGH
take slavery for example. slaves are of low value and low productivity. slavers are hesitant to bring in machinery, because slave labour power is so cheap. proles within the imperial core have brought more products into being and are more heavily exploited both in absolute and relative terms than workers in the periphery, especially slaves. slavery is historically regressive and deeply unproductive
when reactionaries in the US' south call the Civil War the War of Northern Aggression they are not wrong. the South was making inefficient use of their slaves, which northern industrialists would much rather put to work in their factories. hence why they funded and sent abolitionists to the South
>>1749054>slavers are hesitant to bring in machinery, because slave labour power is so cheapSlaves also are notoriously destructive towards machinery. They break machines all the time
>>1749070that too. proles are less likely to rebel since they are "free"
More banks collapsing. Bancorp bank is taking a shit and being sued by investors for cooking their books.
Since last year we've had labour in oversupply and underdemand, and service or production industries hitting slow growth all across the west, especially with rising unemployment since 2021, and a looming oil crisis (oil markets facing risk increase oil prices), it seems we're going to have both inflation and recession or already are, this will lead to stagflation across the west if not the world, if the regional war in the Middle East explodes even wider, is my economic analysis correct?
Additionally I'll say that, stagflation which will create depression like conditions (Marxist economists at the Tricontinental Institute For Social Research, Tonak and Savran, argue we're already in a depression), is an opportunity for us communists yes? Like lenin conceptualizes crises, we're have an impossibility for the working classes to live and an impossibility of the capitalist classes to rule, we should thus see increased political action from the former and political reaction from the latter, an opportunity for us to act.
On the Ideological level, which Jodi Dean does great work on, we may see rising consciousness from people severely affected, it shows capitalisms weakest links, right?
Source which is infered and interpreted from is the Global Monthly: November-December 2023 by The World Bank.
>>1755322What communists? Who's going to seize this?
When you have market downturns like this, they're only beneficial if either:
1) We had built an org in advance that could capitalize on this (and living in Burgerstan, glowies will ratfuck that possibility into oblivion)
2) The state is sufficiently weakened by the following calamity that you could have a book club with more than 6 people without the gestapo infiltrating it
Other than that, no, if bad shits gonna happen, there probably isn't a meaningful silver lining.
>>1755445So we are just fucked economically (not to mention whatever could happen militarily) with no solution if the possible scenario of stagflation with the increasing likelihood of regional war is to happen, shit.
>>1757237>gommunistno, just FDR pilled
Germany facing ‘greatest real estate crisis’ in 15 years – bankDeutsche Pfandbriefbank, a German bank focused on commercial real estate, has become the latest lender in the country to report having put aside more provisions for its loan portfolio amid what it calls the worst decline in commercial property values since the global financial crisis.
The bank, known as PBB, reported this week having increased provisions in the fourth quarter, saying in a statement that it had set aside €215 million ($231.7 million) for bad loans due to “persistent weakness of the real estate markets.” It added, however, that despite this step, “PBB remains profitable thanks to its financial strength – even in the greatest real estate crisis since the financial crisis.”
The bank’s shares dropped more than 3% on Friday and are down 27% so far this year and 40% in the past six months. On Thursday, it sought to reassure investors that it had enough cash and highly liquid assets on its balance sheet to operate for six months without new funding from investors.
https://swentr.site/business/592167-germany-real-estate-crisis/Soaring debt pushing wealthy nations to ‘fiscal death’ – economistMajor economies that fail to address their mounting debt issues will die a “fiscal death,” the head of investment and wealth advisory Laffer Tengler Investments, Arthur Laffer, has warned.
In an interview with CNBC this week, he predicted a “decade of debt,” adding that the borrowing crisis has embraced both developed and emerging countries, and it is not going to “end well.”
Global debt has surged by $100 trillion from a decade ago and hit a record of $307.4 trillion last September, amid the biggest surge in global interest rates in 40 years, according to the economist.
https://swentr.site/business/592093-global-debt-fiscal-debt/German industry ‘moving abroad’ – BildOne in three German manufacturers is considering moving production to other countries amid economic troubles, double the number recorded in 2022, Bild news outlet reported on Saturday, citing Siegfried Russwurm, the head of the Federation of German Industries (BDI).
According to the report, among the latest firms planning to relocate is household appliance manufacturer Miele, which plans to cut 2,000 jobs in Germany and move 700 positions to its site in Poland. Heating manufacturer Viessmann had already moved 3,000 jobs to Poland.
Volkswagen said last year that it would build a new battery factory in the US, and BASF announced plans to invest €10 billion in a petrochemicals plant in China amid job cuts at its headquarters in Germany. French steel pipe manufacturer Vallourec shut down production in Germany in September last year, while tiremaker Michelin and its US rival Goodyear said they would also close their German plants by the end of 2025.
Russwurm says that a growing number of companies have reported that their “patience with Germany is at an end.” According to him, the slowdown in economic growth and high rates of inflation, especially with regard to energy, have resulted in less investment, and Berlin lacks a strategy to turn the situation around. This in turn leads to a gradual decline in manufacturing, he said, and while existing production lines may continue to operate for a while, “new ones are no longer being built in Germany.”
https://swentr.site/business/592225-german-industry-relocation-plans/
>>1758264Already left Greece for Europe. Where should I go now?
https://archive.is/qjB8h
>Lagging productivity growth in the EU could reverse the European Central Bank’s progress in bringing down inflation
>In this environment, monetary policy needs to remain restrictive.
>The difference in unit labour cost, a measure of productivity, between the EU and US has widened in the past year, as European wages have risen in a stagnant eurozone economy that has been battered by the fallout from Russia’s invasion of Ukraine two years ago.
>On the back of two inflation shocks, the eurozone is an economy where people are still being paid and paid more. What is happening is that a lot of people are working but GDP is low, so as a result the output per worker is falling,” said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics. “That is inflationary.”
>Many experts agree that regulatory restrictions are holding back productivity growth in the eurozone.
>The old-age dependency ratio in the EU, or the number of people aged above 65 relative to the working age population, will increase from 37 per cent in 2022 to 60 per cent in 2070.I liked a comment asking: "Where is all the promised AI productivity?"
>>1764903>Where is all the promised AI productivity?In China. But in USA and Europe trying to replace humans with AI while the consumer market remains the same or shrinks won't improve the economy one bit
Argentina Sees First Monthly Budget Surplus In 12 Years
https://www.barrons.com/news/argentina-sees-first-monthly-budget-surplus-in-12-years-a148e46aGommies on suicide watch!
How can ancaps be so effective?
>>1765941i guess………… libertarianism does work…….
marx sisters……….. it's over.
>>1765941wtf I'm ancap now. im going to go goon for a bit.
>>1765941It is fairly easy to do if you gut your social programs, but haven't poverty risen above 50%?
>>1765964Kek, it's completely unsustainable. He gutted everything from education, infrastructure, public transport, social programs, subsidies. It's like saying you lost weight because you cut off your own arm.
>>1758272Try the Island of Ligma.
The simple narrative taught in every history class
Is demonstrably false and pedagogically classist
Don't you know the world is built with blood?
And genocide and exploitation
The global network of capital essentially functions
To separate the worker from the means of production
>>1730607Gonzalo's best cadre
>>1452922He forgot to put his mask on, but what he said is pretty orthodox thinking for capitalists. High wages + low unemployment is porky's worst nightmare, even if he usually won't admit as much.
>>1775846Price gouging by another name
>>1776168I don't fear AI being so advanced it steals out jobs, I fear companies being so eager to use AI that they make shitty mistake-riddled AI steal our jobs. Software is gonna get DOGSHIT over the next couple decades.
>>1776168>or farminglmao
Take them to the fields, Comrade Huang
>>1776382If you thought spaghetti code was bad when humans were producing it, just wait.
>>1776419I know. I've seen AI code in action. It's something I can only call apocalyptic considering what it's going to be used for. I'm talking literal planes falling from the sky shit.
>>1776421shutting off life support in hospitals for a few hours at a time to optimize the electricity bill
>>1776419>>1776421I don't want to be a fearmonger, but this simply is something so sensitive that we NEED humans who have full context and pressure. Computers can't be held to account for their misactions. We are about to enter a capitalistic dark age here.
>>1776031Sincere question here.
Assuming markets, that one must assume in capitalism, this is a way to have a more efficient economy. So for example, pizza in my country is being ordered between 20:00 till 10:00. At this moment everyone is rushing to make pizza and send them. Before this time everyone is just there doing nothing.
If you have such a mechanism, theoretically, less people will buy during rush hour, workers will be less relaxed (and wont speed up and die with the motos, something that is happening a lot where I am from) and they will order pizza an hour later or before. So it will even things a bit.
Similarly, theoretically, electricity consumption should be more elevated when there is peak solar electricity that would otherwise be wasted instead.
I of course know this is theoritical. For electricity, big companies just collude and do whatever they want, and anyway the common consumer cannot choose when to buy it. Or workers simply have 0 hour contracts and they actually get income only
when they need them during rush hours.
But, what I want to ask, is why is it such a bad thing. Give me examples. I can see why sundays for example pizza should be more expensive. And how such matters are solved with planning?
>Price gouging is similar to profiteering but can be distinguished by being short-term and localized and by being restricted to essentials such as food, clothing, shelter, medicine, and equipment needed to preserve life and property.I agree with that, fully. Especially bad during disasters or other crises. But I mean, the idea seems to me to also have merit. Am I completely wrong?
>>1776424If the consequences are bad enough people will hold the CEOs accountable for doing this.
>>1776424>Computers can't be held to account for their misactionsNeither can humans practically. Those in power and fault are shielded from even the most tame of accounting for their missactions.
Thank of some serious tragedies that have happened in the last decade and think of what the consequences where for those who caused them.
>>1777090disgusting presenter
>>1777539:T that's rude, though he might benefit from just letting the beard grow out
>>1777539>guy is drawing attention to high level porky financial manipulation>doing it in a way that tiktok can understand>disgusting presenterk
>>1777539He is fine. Go watch some cryptobro
>>1777090so what does this mean for the average man or/and how can they make money off of this
>>1778190Sell everything. Not really, just the big 7.
>>1778195>just the big 7what's that
>>1778204oh, they know don't they
>>1777090bobobros, we are so back
>>1778198friendly reminder to minecraft any ceo or high profile bourg politician visiting your workspace, you may never get another opportunity
>>1778403alternatively give 'em the 'ol aaron bushnell
>>1777090This guy is a retard who misunderstands how index & pension funds (such as BlackRock) work and is a GMEtard.
>>1777090People tend to sell when stocks go up to record highs
>>1778190The average man cannot make money off this
>>1778425True but there's a truth behind what he says regarding the biggest companies controlling most of the other companies.
>>1778198Gamer genocide is real
>>1779339very mediocre if you ask me. How much is it down since 2 years ago while other stocks are pumping hard? So much lost opportunity…
>>1779642I actually called the bottom in 2022, shortly after the FTX collapse, at about 16k.
It just closed the highest monthly candle, at 60k. And the halvening is a month and a half away.
https://www.tradingview.com/chart/BTCUSD/bDBXJ0dd-down-a-little-or-up-a-lot/
>>1780002related:
https://www.austinmonitor.com/stories/2024/03/as-council-prepped-public-support-local-google-workers-learned-of-layoffs/
>The employees who worked for YouTube’s music content operations team and had signed up to speak on the resolution were still given their time, during which they began receiving text messages informing them the entire team was being laid off. The news caused some of those present to opt to leave City Hall and go to the company’s downtown office to attempt to retrieve their personal items.
>>1780002Yeah china's going to win the Tech race lets be honest lol.
>>1781473Let’s be real. China has a censorship problem. Restricting knowledge is going to hold them back. That’s why all of their best minds have to go to college in the states, where they can study without fear of upsetting political forces.
>>1781939>censorship problem>refuses to elaborateDidn't you get your CIA money yesterday? Why are you still here?
>>1782340>a series of contextless photoswell shit im convinced
>>1782617So when a bridge collapses or a train derails or a condo implodes in the US, it’s a global scandal. When it happens in China, it’s Thursday.
>>1781939>Censorship restricts knowledgeLiberal take. Fuck off back to Reddit.
>>1782726That isn't Communist China. Those photos are of American China-towns.
>So when a bridge collapses or a train derails or a condo implodes in the US, it’s a global scandal. When it happens in China, it’s Thursday.Bet. Post data on American and Chinese infrastructure collapse
>>1781946You do realize that backyard furnaces were used to produce tableware and ploughs and stuff like that, not industrial grade-steel, right?
It's kind of hilarious that instead of assuming the intelligence of the opponent and work from there, Americans go straight to "they do backyard furnaces, they report huge industrial gains (because they also did build new factories at the same time), that must mean they use backyard furnaces to make industrial grade steel! Haha, stupid commies, you won't fool me, your statistics are a lie and fake because chinesium!"
>>1782757so for small scale cast iron stuff? interesting
>>1781939China is not going to risk having
"Yakovlev" situation, and a liberal intelligentsia who use the media freedom to promote counter revolution, cultural sabotage, and historical nihilism, like what happened in the Soviet Union with the policy of "glasnost".
>>1791184Where's that clip come from?
>>1791256https://www.youtube.com/watch?v=lJCX5S9O4yg&t=4332sHistorical Nihilism and the Fall of the USSR [ENG subs] [Chinese Documentary]
>>1781939>Restricting knowledgeKnowledge about what? Of myriads upon myriads of bullshit stories like Goebbels' version of Katyn? They are better off without knowing that Westoid historians think that Chinese had a famine that killed 100 millions of Chinese; it's both not true and a rather pointless knowldge
>>1782726are you seriously unironically favorably comparing the infrastructure of the US to China?
https://www.cfr.org/backgrounder/state-us-infrastructure<Experts say that U.S. infrastructure is both dangerously overstretched and lagging behind that of its economic competitors, particularly China.
>>1791184>and a liberal intelligentsia who use the media freedom to promote counter revolution, cultural sabotage, and historical nihilism, like what happened in the Soviet Union with the policy of "glasnost"they already did that buddy. that is already the official CPC line since the communists lost the struggle before even the death of Mao
<100000 gorrilion deaths glhf even worse than hololololodomoar. this is what happens when you try and socialize the economy and construct socialism instead of doing capitalism stupid peasant ultras
>>1792224
>they already did that buddy. that is already the official CPC line since the communists lost the struggle before even the death of MaoI mean if the communists lost the struggle before mao's death then why didn't we see a similer form of shock therapy happen in the PRC if that was the case then, and if they lost power now then why are we seeing the CPC conducting major purges wtihin the ranks of the party explicty against those who had been corrupted by the porkies?.
What i'm trying to say is that the actions of the CPC in recent years and in the past haven't really proven that the CPC has been taken over by revisionists and reactionaries unlike what some people may think.
You do realize the Chinese censorship regime isn’t even absolute, right? VPNing past the GFW is like marijuana in the West; it’s technically illegal but most members of the intelligentsia do it. The end effect keeps fake news and foreign subterfuge out of China.
Comrades should be aware that the American economy is about to go through some pain. We saw US unemployment hit 3.9% in March, which was a strong leap from 3.4-3.5%, and the Fed’s easing policy is waiting for CPI to reach 2%. But guess what? CPI just came out at 3.3-4.2-5.3%, which means they can’t ease any time soon, thank the Houthis.
This is implying we’ll hit recession within the next 12 months, and it looks like it’s decoupling-driven inflation.
Thank god for American attempts to decouple from China, which insulates (relatively speaking) the Chinese economy from the American one.
>Thank god
Thank Allah
>>1793152democrats constantly subsidize and bail out the insurance companies with the federal healthcare system. We should all vote GOP so they gut the insurance companies and cut it all down
>>1454958love boy boy their recent video going into pine gap was cool as well
>>1817224Everyone who lives here knows this though
>>1792297>sniffing Westoid "freedoms" is like marijuanaYou'll visit outside of GFW either to pirate shit or to google some stuff
>>1817224>read the graphs>it's all "divide this arbitrary number by that arbitrary number and pretend that it's the most correct way to measure an economy"Holy shit how Michael Roberts degenerated. If you want to analyze how a company is doing, you have to analyze what it's doing, not fucking with numbers to prove some *new* theory whose whole value comes from being *new* in opposition to already existing research.
Academia without mandatory shaming of intellectuals with dunce hats has no future
>>1817376I have a better idea
>>1817376I noticed he also disabled comments. Wonder if too many people called him out for swallowing NATO propaganda wrt Russia (he actually believed there's a 1:1 casualty ratio which is just lol)
>>1796920This just tells me the stock market is going to crash in the next several months.
>>1818255Yes, arbitrary. Just check the article.
>The leftist economist, James Tobin developed a measure of the relation between the market capitalisation’ of the companies in the stock market (in this case the top 500 companies in what is called the S&P-500 index) and divided that by the replacement value of tangible assets accumulated by those companies
>Another measure of the relation between stock market prices and profits has been developed by the heterodox economist Robert Shiller. He measures the ratio of market capitalization of over corporate earnings (after inflation) and averaged over ten years.
>Another measure of the stock market’s relation to reality is favoured by the legendary billionaire investor, Warren Buffett. Buffett monitors the market cap of the US stock market against real GDP, in other words, stock prices versus the real economy.
>Finance capitalists usually measure the value of a company by the share price divided by annual profits. If you add up all the shares issued by a company and multiply it by the share price, you get the ‘market capitalisation’ of the company — in other words what the market thinks the company is worthSorry, but all of this is arbitrary
>>1818377>describing p/e like it is some advanced conceptDidn't read the article but it sounds basic bitch. All the highest performing stocks also have high p/e. P/e is cool but it doesn't take into account equally importanr fundamentals like debt to equity. But if investing was so simpl to be decided by a couple numbers no human involvement would be neccesaey.
>>1818379To think Bout p/e it is like having a magic button on ebay or whatever market that supposedly says "this is undervalued/overvalued" but everyone has access to the same button, so why don't they value tgese undervalued assets and why do they pay for the over valued ones, well, because it is not that simple and one metric by itself is rather meaningless.
>>1818379To invest profitably you'll have to actually do a research on the operations of the company. That's why insider knowledge is so goddamn powerful. Bourgeois economics are a scam, and bourgeois economists must wear dunce hat in public places
https://finance.yahoo.com/news/ubs-faces-substantially-higher-capital-123956215.html>UBS shares fell as much as 3.9% and were briefly halted in Zurich trading.https://www.reuters.com/business/finance/ubs-brink-switzerlands-too-big-fail-reckoning-2024-04-08/There's no plan B. Risk of contagion is uncomfortably high.
UBS on the brink of Switzerland's 'too big to fail' reckoning
>Since UBS rescued its stricken rival Credit Suisse a year ago, it has been waiting to hear how authorities will protect Switzerland from the risk of the country's only remaining big bank also imploding.> The Swiss government is this month due to publish its recommendations for policing banks that are "too big to fail", which could saddle UBS with tougher business rules.> At around $1.7 trillion, UBS's balance sheet is double the size of annual Swiss economic output, giving the bank an exceptional weight for a major economy.> Should UBS unravel, there are no local rivals left to absorb it. And the cost of nationalisation could shatter public finances, experts say.> The Swiss lower house of parliament in May 2023 backed a motion calling for systemically relevant banks to have a leverage ratio of 15% of assets, far more than in the European Union, the United States and Britain.> The higher ratio would likely leave UBS needing to find well over $100 billion in additional equity, said Andreas Ita from consultancy Orbit36.> "This can't be done within a reasonable period by withholding profits, and raising such sums via capital markets is hardly realistic," Ita said.> "There is no plan B this time," he said. "The main policy will be hope – hope that UBS doesn't get into trouble. But hope is not a strategy."
>Inflation up again
kek
Next hike incoming.
>>1819296The most rational economical system everyone.
>>1818340there would need to be an enormous improvement in other ways of storing value (like bonds) before the flow of cash into stocks slows down. biden 2024 is a guarantee at this point
>>1819552Feels like a rugpull is coming. I dunno.
>>1819552>biden 2024 is a guarantee at this pointUhhh by what logic?
>United States: The US economy is expected to decelerate from 2.5% in 2023 to 1.4% in 2024 due to falling household savings, high interest rates, and a softening labor market.
So everyone is saying this year will be worse than last year but the question is how much worse?
>>1819552Both sides have a 50/50 chance of winning imo. I don't think most people really care about either with voter turnout being at an all time low unless you're a hardcore trump humper or voot bloo.
>>1820160you really think the rupublicans and democrats are honest enough to leave it up to a coin flip? if you aren't cheating you're not even trying to win
>>1820186But then they both cheat at similar rates of efficacy, it becomes a coin flip again.
>>1820188exactly! democracy is fucking dead bros it's all the same shit now.
>>1820188lol sure, and what real world evidence leads you to believe this
>>1820191>lol sure, and what real world evidence leads you to believe thisuhh maybe the death of the empire with all the people and infrastructure inside everyone can see with their own eyes? You mean that kind of evidence?
>>1820195the obvious conclusion to a hollowed out empire is a level playing field for both parties? enough to where it's completely even? you can't be serious
>Inflation up again
>Yield curve starting to invert
>growth slowing
>base interest rate about to get hiked again
>private home builder stocks sliding despite ever increasing housing demand because they are being strangled by interest rates
>but lower interest rates would also just simply increase real estate prices further
>Demand for housing has never been higher yet fewer and fewer housing is being build
>Housing crisis so bad it's substantially biting into the labor market
>We might be about to see a recession right before the election
AMAZING, BRAVO BIDEN
>>1820202>the obvious conclusion to a hollowed out empire is a level playing field for both parties? enough to where it's completely even? you can't be seriousThat's usually what the death of an empire usually looks like
Read a history textbook.
>>1820204hardmode: post a wiki link to a bourgeoise election that was ever exactly 50/50
>>1820209Why do you even care so much I already said in an earlier post that democracy is dead so the fact that the playing field is "level" doesn't even matter. It's all a scam.
>>1820215>they want a wiki linklmao
>>1820219nah bro you have to post a link to wikipedia otherwise everything you say is irrelevant.
>>1820235>glowpediaiaintclickingthatshit.jpg
I have no clue what is going on but Japan's Nikkei just plunged over -1000 today. Equating into a -3% day.
This would be the equivalent of the Dow dropping -1000 in one day. Not sure what is going on in the Japan exchange. They are blaming inflation recovery but it is never that simple.
The entire Japanese market is in freefall except for a few things.
https://markets.businessinsider.com/news/stocks/japanese-market-sharply-lower-down-3-1033264166
>>1828891> led losses in Asia on Friday, falling 3.81% and closing at 19,527.12, its lowest level in over a month as most major markets in the region fell amid escalating tensions in the Middle East.>Asian equities declined as a person familiar with the matter told NBC News that Israel carried out a limited strike in Iran. Stocks and risk assets tumbled, while safe havens rose.> was down 2.66%, paring earlier losses and ending at 37,068.35, while the broad based Topix fell 1.91% to 2,626.32. On a weekly basis, the Nikkei shed 3.65%.
>Overnight on Wall Street, all three major indexes ended mixed, with the S&P 500 posting five straight days of losses, its longest losing streak since last October. The broad index lost 0.22%, while the Nasdaq Composite dropped 0.52%.
https://www.cnbc.com/2024/04/19/asia-markets.html
NVDA -10
Yo.
>>1837031i wonder where the inflation is coming from. there has to be a huge amount of dollars entering circulation but indirectly or it would be noticed. im sure its a bunch of different factors but id say china selling off U.S treasury bonds (40% drop since 2013) moves the needle the most
>>1837063It's seller's inflation, aka Greedflation. Read Weber, not Max but Isabella.
>>1841617i think this dumb stripper index meme is just that, a meme for funny headlines, every other consumer indicator should be right in line and it shouldn't have extra predicting power
GameStop and other meme stocks are doing a repeat of the short squeeze from 2021.
The SEC has halted the stock SEVERAL times.
Once again, people want to organize and attack the market but the capitalist don't want people to play in this way and they don't think anyone should have the power to squeeze except themselves.
>>1853516The stock market is a casino and in casinos the house always wins, find a way around them and they'll immediately change the rules
>>1853516>Once again, people want to organize and attack the marketThey want to make money sir. Dont be gullible.
>>1853516It's not like we left and came back. We never left.
Like I said years ago the price is fake and we aren't leaving. People called me a scam artist or whatever. I pointed out fluctuations in the price weren't retail just randomly buying and selling for no reason, people said I was lying.
Now GME is shooting up in price again. A good portion of which came from pre-market volatility (where retail can't trade) and everyone's acting like people randomly decided to buy in (again, for no reason).
The short squeeze in 2021 wasn't some flash in the pan "came and went" thing. It came, was halted, people waited, and (hopefully) it's gonna gain some more momentum. We'll see.
Short sellers never closed their positions. It's not that hard to understand. They just kept folding them into shell companies and trying to obscure how much they really owe. It's like saying "I beat Cancer in 2021" because you stopped doing chemo and let your hair grow back.
Eitherway, it's a good day for my stonks.
>>1853775>my stonks>CPUSAnon is a petitI knew it.
>>1853779Marx bought and played stocks
>>1853779>petite bourgeoisie is when you own stocksI work in a grocery store. The stonk in question is mostly GME. We’re going to participate in capitalism anyways, so I might as well try to make some money.
>>1853801We need more information in order to determine your class status. Is your hair dyed in a non-standard color?
>>1853775This is absolutely hilarious.
There have been 10 market halts on AMC and GameStop stocks today. They don't want the commoners to get in on the action. GameStop and AMC are being used as vehicles for people to make it big right now. E-Trade "randomly" had issues yesterday. I haven't even looked at Robinhood because they were the biggest hypocrite last time this happened. The casino must allow people to play right? Lmfao. The manipulation is incredibly blatant.
The meme stocks are flying up. Hedge funds are do fragile. I hope we get more videos of the old fuckers at hedge funds raging on national tv.
>>1854239I went to a Catholic School: no non-standard hair colors and no gaudy neon clothes for me, sir.
>>1854254There was a great video ages ago of some hedgie losing tons of money shorting GME and throwing a chair in the office, grumbling, "You mother fuckers!" Can't find it now though.
A lot of people are saying the current runup could be anything from some 3 year rollovers finally coming due, to GameStop doing a limited stock buyback. There was some TA that got proven mostly correct which argued that the algorithm shorting GME was going for a "slow bleed" approach; this makes the most sense for shorts because if they dropped the price too quickly then GameStop's investors would snatch up the shares at a discount, but if they let the price rise too high then they risk getting margin called.
There's also the fact that, as I understand it, the only way to feasibly keep the price
down is to expand their short position and hope that sudden price drops will scare investors off. GameStop investors, however, aren't acting "rationally" and treating price drops as a discount. So all the Hedge Funds have really done is picked at a scab and made their wound even bigger. Or maybe a more fitting metaphor would be a guy who's done so much cocaine that if he were to quit cold turkey he'd drop dead, so all he does is snort more and more coke and pray his heart doesn't explode.
This is the same mindset that led to Wall Street making bad bets on the housing market: just pure greed and corruption. And I'm hoping my position is similar to the guys who shorted the housing market and made it big.
I hope a few anons here bought and held.
>>1854313I had my fill dabbled in crypto a few years ago but I hope you make it so you can tell those vile boomers at work to fuck off
>>1854318Thanks man; if this thing pops and I make tons of money I might do a steam giveaway on here.
It looks like they're suppressing the price during market hours (likely to encourage selling from retail, unlikely to happen for most actual GME investors) and letting it run after hours. So far it's ~$55 per share as I'm posting, translating to nearly $41k in GME for me.
Still Holding.
>>1854254>The casino must allow people to play right? No. It must not. The casino does what it wants.
>The manipulation is incredibly blatant. Oh noes, powerful people wont let me have power too
>>1854634Y'know it's been a while since I brought up the GameStop play, namely an understanding of how it still works within the confines of a Marxist understanding of Capitalism.
'Kay so a lot of liberals act all surprised when the market proves itself to be manipulative, when Capitalists break their own rules to "win", and when what Capitalism says about itself is proven as total bullshit. The thing with GameStop is it's predicated on understanding that
all of that is true, and using it to make a ton of money. The big problem I've encountered from a lot of other Socialists (though I've seen a few Comrades who hold GME too) is that for as much as we talk about materialism, they're taking a
wholly idealistic look at GameStop. The argument against GameStop is literally just vibes, that's it. I've argued this point a ton of times and I don't think I've been proven wrong yet. The people saying "GameStop is going to zero, quick!" never base that assumption off actual reality but just a vibe. They
think GameStop should be just a "dying brick and mortar" and so they imagine it is, even when the actual data says otherwise.
Alright, so with that said, why is it that GameStop works within the confines of Capitalists cheating? Problem is, a lot of Socialists see Capitalism as the completely unobscured and unrestrained will of the Bourgeoisie, but even a quick study of Marx shows that the Bourgeoisie aren't gods. They're more than capable of being idiots and making mistakes: from overproduction of goods, to getting too greedy, to any number of issues. Why did 2008 happen? Well, because a bunch of rich Capitalists had bribed regulators, gave absurd mortgages to people who couldn't possibly afford them, and the system was so decentralized that when the bill came due plenty of capitalists were completely blindsided by the consequences of their actions. It was only a lucky few investors, chief among them being Michael Burry, that saw the crash coming and shorted the housing market. And again and again you'd have other Capitalists calling them insane, idiots, crazy. Burry essentially had to go to war with his own clients to make his play. There
are ways, often once in a lifetime ways, to catch Capitalists with their pants down. Burry and a few others still made their money, the Bourgeoisie didn't confiscate it all out of spite (though Burry personally was investigated by the FBI) that the "losers" were right, they didn't even have a legal means to!
The GameStop Squeeze thesis works on the premise that Hedge Funds are greedy, short-sighted, and (again!) caught with their pants down. It presumes a lot of what Marxists already believe: that Capitalists lie, cheat, and steal. To understand it, you first need to understand shorting and naked shorting:
Shorts and Naked ShortsAlright, so, what is shorting a stock? Say you think that a company is gonna lose money or suffer a financial hardship, and you want to make money off it; you'd short the stock. In essence, big investors will "borrow" peoples' stocks and promise to return them at a later date, paying a fee for returning it later than intended. The borrower then turns around and sells the stock they just borrowed, thinking they'll buy back when the stock price goes down and pocket the difference as profit. Simple enough, yeah?
Well in comes "Naked Shorting" which is, technically speaking, illegal. Since so much of Wall Street trading is digital, its entirely possible to "sell" the same stock to multiple people. Imagine for a moment that your buddy, Bob, lends you his car. You turn around and sell Bob's car to Tyler, and you hand him a deed to the car and everything; you still want more money, so you talk to John and "sell" Bob's car to him too, printing up a new deed and everything, you keep doing this again and again with the understanding that type of car Bob drives will keep depreciating in value, you can always just buy him a new one with the money you're making. You're essentially committing fraud on a massive scale, but since your buyers are apparently satisfied with just owning a digital "deed" to the car, everything is peachy.
Now there's one aspect of shorting stocks I neglected to mention, but it's important. Because of our absurd tax laws, you can only be taxed on your short position after you close out of it and return the stock you purchased. Sounds innocuous enough, right? Here's the thing though: what if the company goes under?
If a business goes bankrupt, what happens to the stock? It's worth nothing. Less than nothing. And do you know what that means? You don't have to return the shares to the person you borrowed it from. Who wants a whole $0 in stock? They won't even ask for it! So if the company goes bankrupt and you keep your short position as "open" on the books, that means you've made potentially billions in completely untaxed income. Sure, you've made your profit, but you never fulfilled your end of the contract and so it's still "open" even as you're paying no fees and returning no stock. The best thing is, by shorting heavily, you can help facilitate the collapse of a company. You can keep shorting the stock into being worth nothing, and as long as you target the "bad" companies, the ones that are for sure going under, such as a "dying brick and mortar" store, nothing will happen to you! You get rich and you beat the taxman!
Short SqueezesThe thing with shorts though, are they have potentially infinite risk. A stock can only go
down to zero, in theory there's no ceiling on how
high a stock can go. Now, usually if you make a short bet and lose, you just take the loss, buy the stock, and move on… but every now and again a company can be so shorted, or its shares are held in so few hands, that you can't buy enough shares to close out of your position. Well then what? You have to entice people to buy, hence a rise in price. Everytime you fail to meet your obligations, you have to pay a fee, so you got to buy quick. Problem is the higher the price goes, the more money you lose until you close out of your position.
People keep saying GameStop "squeezed" in 2021. It only saw a sharp increase in
price in 2021. The Shorts could only keep retail investors from buying more (Robinhood and other companies turning off their buy buttons for GameStop) but until they actually bought the shares to cover their short position, they weren't "squeezed".
Another problem: thanks to naked shorting they shorted more shares in GameStop
then there are in existence. They genuinely couldn't buy back enough shares to cover what they owed.Literally the only way out was for GameStop to voluntarily immolate itself. It can't go bankrupt, because the sharp increase in stock price allowed it to pay off its debt, so it isn't gonna go bankrupt anytime soon, its investors were pissed when the buy button was turned off, so they can't rely on people actually selling their stock.
What's left? Well, they can only just try to bide for time. Expand their short position to lower the price of the company, and hope people get bored and sell. But they aren't selling. It costs nothing for us to just hold onto our stock. It's been 3.5 years since this whole saga began, and time? Well…
>>1854736The GameStop saga of 2021 unfolded as a riveting spectacle, drawing global attention and sparking intense debates that transcended the realm of finance. At its core, this saga encapsulated a myriad of intricacies and controversies emblematic of modern capitalism. What began as a seemingly innocuous trading frenzy around a struggling video game retailer quickly evolved into a profound exploration of the power dynamics inherent in financial markets.
Central to the narrative was the unprecedented coordination of individual investors, primarily congregating on online platforms like Reddit's WallStreetBets. These retail traders, armed with information and fueled by collective action, challenged established norms and disrupted traditional market dynamics. Their concerted effort to drive up the price of GameStop stock, in defiance of conventional wisdom and institutional investors, underscored the potential for grassroots movements to exert significant influence in an increasingly interconnected world.
However, beneath the surface of this seemingly spontaneous uprising lay deeper questions about the nature of capitalism itself. Marxist theory provides a lens through which to dissect the GameStop phenomenon, revealing underlying tensions between capital and labor, as well as the inherent contradictions within the capitalist system. The rapid ascent of GameStop's stock price, driven not by traditional fundamentals but by speculative fervor, laid bare the speculative nature of financial markets and the disconnect between market valuations and tangible value creation.
Marxist analysis provides a critical lens through which to examine the GameStop saga, revealing the underlying contradictions and vulnerabilities of capitalist markets. At its core, Marxist theory posits that capitalism is inherently predisposed to exploitation and inequality, perpetuating systemic crises rooted in the extraction of surplus value from the labor of workers.
In the context of the GameStop saga, the concept of surplus value is particularly salient. Traditional economic theory suggests that stock prices reflect the present value of a company's expected future profits, based on factors such as earnings, growth prospects, and market sentiment. However, the rapid and dramatic rise in GameStop's stock price defied conventional valuation metrics, indicating a disconnect between market prices and underlying fundamentals.
From a Marxist perspective, this phenomenon can be interpreted as a manifestation of the inherent contradictions within capitalist markets. The surge in GameStop's stock price was driven not by the creation of tangible value through productive activity, but rather by speculative trading and market manipulation. In this scenario, capitalists (in this case, hedge funds and other institutional investors) sought to extract profits from the labor of retail investors, exacerbating existing inequalities and reinforcing class divisions.
Moreover, the GameStop saga highlighted the asymmetrical power dynamics within capitalist societies. While retail investors organized collectively to challenge established norms and disrupt traditional market dynamics, the underlying structures of capitalism remained largely intact. Institutional investors, wielding considerable financial resources and influence, ultimately retained the upper hand, demonstrating the resilience of capitalist power structures in the face of grassroots resistance.
Furthermore, the GameStop saga underscored the fragility of capitalist markets and their susceptibility to manipulation and speculative excess. As retail investors flocked to GameStop stock in pursuit of short-term gains, market volatility soared, triggering widespread repercussions across financial markets. This volatility exposed the inherent instability of capitalist systems, characterized by cycles of boom and bust, driven by speculative fervor and irrational exuberance.
In sum, the GameStop saga offers a compelling case study in the contradictions and vulnerabilities of capitalist markets, as seen through the lens of Marxist analysis. By examining the dynamics of surplus value extraction, class struggle, and systemic instability, we gain deeper insights into the structural flaws and inherent inequalities that define contemporary capitalism. As we continue to navigate the complexities of financial markets and economic systems, the lessons of GameStop serve as a poignant reminder of the urgent need to interrogate and challenge the status quo in pursuit of a more just and equitable society.
>>1854736The GameStop phenomenon laid bare a series of contradictions inherent in capitalist structures, resonating with Marxist critiques of financial speculation, market manipulation, and the intrinsic instability of capitalist economies. Through the utilization of online platforms for coordinated collective action, individual investors confronted established power dynamics within financial markets, upending traditional hierarchies and thwarting the strategies of institutional investors.
One of the central contradictions illuminated by the GameStop saga is the disparity between the speculative nature of financial markets and the real economy. While the stock market is often portrayed as a barometer of economic health, the frenzied trading around GameStop highlighted how market valuations can diverge significantly from underlying economic fundamentals. This disjunction underscores the speculative nature of financial capitalism, where asset prices are driven not solely by productive activity but also by speculative fervor and market sentiment.
Moreover, the GameStop phenomenon exposed the vulnerabilities of institutional investors who had become complacent in their assumption of dominance within financial markets. The coordinated efforts of individual investors, facilitated by online forums like Reddit's WallStreetBets, disrupted traditional power dynamics, challenging the hegemony of institutional players and redistributing influence within the market. This grassroots uprising served as a potent reminder of the democratizing potential of digital platforms, enabling collective action and amplifying the voices of retail investors who had previously been marginalized within the financial landscape.
At the same time, the GameStop saga underscored the systemic risks inherent in speculative trading and market manipulation. The unprecedented volatility surrounding GameStop's stock price sent shockwaves through financial markets, highlighting the fragility of capitalist economies and their susceptibility to speculative bubbles and irrational exuberance. This volatility not only exposed individual investors to significant risks but also raised broader concerns about the stability of financial systems and the potential for systemic crises.
In essence, the GameStop phenomenon represents a convergence of Marxist critiques of capitalism with contemporary realities of financial markets. By revealing contradictions within capitalist structures, such as the speculative nature of financial markets, the concentration of power among institutional investors, and the inherent instability of capitalist economies, the GameStop saga serves as a potent illustration of the enduring relevance of Marxist analysis in understanding and critiquing the dynamics of contemporary capitalism. As we continue to grapple with the implications of this unprecedented event, it is clear that the legacy of GameStop will endure as a symbol of resistance against entrenched power structures and a catalyst for reimagining the future of finance.The GameStop saga serves as a stark reminder of the fallacy inherent in one of the central tenets of capitalist ideology: the belief in the efficiency and rationality of markets. Contrary to the notion that markets operate as perfectly efficient allocators of resources guided by rational decision-making, the events surrounding GameStop underscore the extent to which financial markets are susceptible to manipulation, speculation, and irrational exuberance.
At the heart of the GameStop saga was a collective frenzy driven not by objective economic fundamentals but by speculative fervor and market sentiment. Retail investors, emboldened by online communities and fueled by the prospect of quick profits, engaged in coordinated buying activity that sent GameStop's stock price skyrocketing to unprecedented levels. This speculative bubble defied conventional valuation metrics and exposed the arbitrary nature of market prices, which can be influenced by factors far removed from underlying economic realities.
Moreover, the GameStop saga laid bare the role of human psychology and herd behavior in shaping market dynamics. As retail investors piled into GameStop stock in pursuit of short-term gains, they fueled a self-reinforcing cycle of buying that drove prices ever higher. This herd mentality, fueled by social media hype and online forums, led to extreme volatility and price distortions, undermining the notion of market efficiency and rationality.
Furthermore, the pursuit of short-term gains at the expense of long-term stability and sustainability was evident throughout the GameStop saga. Institutional investors, facing substantial losses from short positions in GameStop stock, engaged in desperate tactics to stem the tide of retail buying, including restrictions on trading and media campaigns aimed at discrediting the retail investor movement. These actions underscored the inherent tensions between short-term profit motives and the broader goals of market stability and integrity.
In essence, the GameStop saga serves as a powerful critique of the belief in the efficiency and rationality of markets espoused by capitalist ideology. By exposing the susceptibility of financial markets to manipulation, speculation, and irrational exuberance, the events surrounding GameStop challenge conventional wisdom and highlight the need for a more nuanced understanding of market dynamics. As we confront the implications of this unprecedented episode, it is clear that the legacy of GameStop will endure as a cautionary tale about the limits of market rationality and the complexities of human behavior in shaping economic outcomes.
>>1854736Short selling is a widely accepted practice in financial markets, providing investors with a mechanism to profit from declining asset prices. The process typically involves borrowing shares from a broker or other institutional investor, selling them on the open market, and then repurchasing them later at a lower price to return to the lender. In essence, short sellers are betting against the success of a particular company or asset, expecting its value to decrease over time.
While short selling serves legitimate purposes, such as providing liquidity to markets and allowing investors to hedge against downside risk, it can also be subject to abuse and manipulation. One such abuse is known as naked short selling, a practice where investors sell shares without actually borrowing them or ensuring they can be delivered on time.
Naked short selling is problematic for several reasons. Firstly, it artificially increases the supply of shares available for trading, which can exert downward pressure on stock prices, potentially leading to market distortion. This can harm long-term investors who hold positions in the targeted company, as well as destabilize the broader market.
Additionally, naked short selling undermines the integrity of the financial system by creating phantom shares that do not correspond to actual ownership rights. This can lead to failures in settlement processes and raise concerns about market manipulation and systemic risk. Moreover, naked short selling can exacerbate volatility and uncertainty, as investors may struggle to distinguish between legitimate trading activity and manipulative practices.
Regulators have sought to address the risks associated with naked short selling through various measures, including imposing restrictions on the practice and enhancing transparency requirements. However, enforcing compliance remains challenging, particularly in the era of high-frequency trading and decentralized markets.
Overall, while short selling can play a legitimate role in financial markets, naked short selling represents a clear violation of regulatory norms and market integrity. Addressing the risks associated with this practice is essential to maintaining confidence in the fairness and efficiency of financial markets.
The GameStop short squeeze exemplifies the profound conflict between retail investors and institutional players within financial markets, casting individual traders against hedge funds and other large investors in a high-stakes battle for control. At its essence, the short squeeze phenomenon unveils a fundamental imbalance of power entrenched within capitalist economies, wherein a select cadre of elites holds disproportionate sway over resource allocation and wealth distribution.
Central to the GameStop saga was the discovery that certain hedge funds had taken sizable short positions on GameStop stock, effectively betting on its decline in value. This revelation galvanized a wave of retail investors, primarily organized through online forums like Reddit's WallStreetBets, to collectively purchase GameStop shares, driving up the stock price and causing significant losses for the short sellers. This unexpected surge in demand triggered a short squeeze, where short sellers were compelled to buy back shares at inflated prices to cover their positions, further propelling the stock's ascent.
The GameStop short squeeze underscores the inherent power dynamics at play within financial markets. Institutional investors, with their vast financial resources and sophisticated trading strategies, have traditionally dominated these arenas, often leveraging their influence to shape market outcomes to their advantage. Retail investors, on the other hand, typically lack the same level of resources and access to information, relegating them to a subordinate position within the market hierarchy.
However, the GameStop saga upended this conventional power dynamic, showcasing the potential for collective action among retail investors to challenge established norms and disrupt entrenched interests. Through online platforms, individual traders were able to organize and mobilize on a scale previously unseen, leveraging the strength of their numbers to confront institutional players head-on. This grassroots uprising symbolized a rebellion against the concentration of power and wealth in the hands of a privileged few, heralding a new era of democratized participation in financial markets.
Moreover, the GameStop short squeeze laid bare the vulnerabilities of institutional investors who had grown complacent in their assumption of market dominance. The swift and coordinated actions of retail investors caught many hedge funds off guard, exposing the limitations of their trading strategies and risk management practices. This realization fueled a broader reckoning within the financial industry, prompting soul-searching and calls for greater transparency and accountability.
In essence, the GameStop saga serves as a microcosm of the broader tensions and contradictions inherent in capitalist economies. The conflict between retail investors and institutional players underscores the pervasive imbalance of power that characterizes these systems, as well as the enduring struggle for economic justice and social equity. As the dust settles from this unprecedented episode, the legacy of GameStop will endure as a testament to the transformative potential of collective action in challenging entrenched interests and reshaping the dynamics of financial markets.
>>1854736The GameStop saga serves as a poignant reminder of the broader issues surrounding regulatory oversight and systemic risk within financial markets. Despite the presence of regulatory mechanisms intended to uphold market integrity and safeguard investors, the GameStop episode laid bare the loopholes and deficiencies within the regulatory framework, enabling market manipulators to exploit vulnerabilities and engage in predatory practices with impunity.
One of the key regulatory shortcomings highlighted by the GameStop saga is the inadequacy of existing rules governing short selling and market manipulation. While short selling itself is a legitimate investment strategy, the practice can become problematic when utilized in a predatory manner, as seen in the case of GameStop. Hedge funds and other institutional investors took advantage of regulatory gaps and leveraged their positions to drive down the price of GameStop stock, potentially harming retail investors and distorting market dynamics.
Moreover, the GameStop saga underscored the challenges of regulating decentralized and digitally-driven market activity. The coordinated actions of retail investors on social media platforms like Reddit's WallStreetBets posed unique challenges for regulators, who struggled to monitor and respond effectively to the rapid dissemination of information and trading activity. This highlights the need for regulatory bodies to adapt to the evolving landscape of online trading and social media-driven market movements, ensuring that regulatory oversight remains robust and effective in the face of technological advancements.
Additionally, the GameStop episode revealed the systemic risks inherent in interconnected financial markets. The sudden and dramatic price fluctuations in GameStop stock reverberated across broader financial markets, triggering volatility and uncertainty. This interconnectedness underscores the potential for localized disruptions to have far-reaching
In conclusion, the GameStop saga serves as a powerful lens through which to examine the inner workings of capitalist economies, illuminating the contradictions, vulnerabilities, and injustices inherent in our contemporary economic landscape. By analyzing this phenomenon through the framework of Marxist theory, we can deepen our understanding of the systemic forces driving market dynamics and the obstacles confronting efforts to forge a more equitable and sustainable economic order.
The GameStop saga underscores the fundamental tensions between capital and labor, as well as the structural inequalities perpetuated by capitalist systems. The coordinated actions of retail investors challenging entrenched interests highlight the potential for grassroots movements to disrupt established power dynamics and advocate for change. However, the episode also exposes the enduring influence of capital in shaping market outcomes and reinforcing existing hierarchies of wealth and power.
By interrogating the GameStop saga through the lens of Marxist theory, we gain insights into the systemic forces at play, including the extraction of surplus value, class struggle, and the contradictions inherent in capitalist economies. This analysis encourages us to question the assumptions of market efficiency and rationality, recognizing the role of speculative excess, market manipulation, and regulatory deficiencies in shaping economic outcomes.
As we navigate the complexities of the post-GameStop world, it is essential that we remain vigilant in our scrutiny of financial markets and hold accountable those who seek to exploit them for personal gain. This requires robust regulatory oversight, transparency, and accountability mechanisms to safeguard against market abuses and protect the interests of all stakeholders.
Moreover, the GameStop saga underscores the urgency of working towards a more just and inclusive economic system. This entails addressing systemic inequalities, promoting financial literacy and empowerment among marginalized communities, and advocating for policies that prioritize the well-being of people and the planet over the pursuit of profit.
In sum, the GameStop saga offers valuable lessons for policymakers, market participants, and society at large. By learning from this episode and embracing the insights provided by Marxist theory, we can strive towards building a more equitable, sustainable, and resilient economic order that serves the interests of all.
>>1854762do you genuinely believe that GME will seriously go to the meme million numbers? I know the financial industry basically has infinite money to cough up but I'm not sure if the American economy can handle hundred of thousands more millionaires. Imo the more likely option is a Government intervention/bailout if the squeeze actually happens.
>>1854766Also - to offer my own critique, you don't really have any proof of the 'naked short' theory do you?
Even if it was true, wouldn't the hedge funds simply buy back enough shares to close out their position over time? Which would also drive the price of Gamestock shares up rather than on the general downward trajectory they've had since 2021?
>>1854801NTA but the 'naked short' theory is supported by the simple fact that hedge funds had simply nothing to lose since Gamestop was about to go bankrupt. Short Interest was also documented to be over three hundred percent and also the price volatility over the years has all but confirmed it in the eyes of the public. The whole point of a Short Squeeze that if investors just hold their shares, they would not be able to buy back the amount of shares they owe without the holding party's shares; creating a name your price situation.
>>1854766I haven’t, actually. Been mostly keeping the GME stuff on the back burner. Until I checked my portfolio the other day and saw it was skyrocketing and DFV was tweeting again.
If, I’m guessing this is a “squeeze won’t happen” video, my opinion has always been that people are free to open up their short position and make some money if I’m wrong. I don’t recommend it, because if I’m right (and I pretty firmly believe I am) then they’ll wind up in a financial hole they’ll have immense trouble escaping, if at all, but the point is I’m putting my money where my mouth is. If I’m wrong I could lose thousands, and if I’m right I could make—shit, I don’t even know, hundreds of thousands? Maybe even millions? It sounds absurd but if this saga has taught me anything it’s that markets are irrational.
What did it for me though, what convinced me that this was correct, was the whole situation involving the share split-as-a-dividend. It feels like a lifetime ago, so forgive me if I get some of the details wrong, but essentially GameStop was going to use an old trick Tesla did to fight shorts—they’d issue a company dividend in the form of a stock split. Now the premise, as far as I remember, was that in a regular stock split, it’s as simple as market makers just going into their system and multiplying everything by the split amount: 1 share becomes 7, for example. However a split-via-dividend is a bit different. See shorts are required to pay any dividends from their borrowed stock to the original owner of the stock, this essentially forces naked shorts to locate stock and return it, thus driving the price up and forcing some to close their position. We got all excited waiting for the big day, and when it came and went we noticed nothing was really happening. People contacted various trading platforms, and they asked one simple question: did they process GME as a regular split, or a split via dividend.
They said they processed it as a regular split.
So people went to GameStop: did you file the forms for a regular stock split, or a split via dividend?
They said they filed a split via dividend.
So people confusingly contacted regulators and trading platforms, and a ton of these platforms said: “hang on, we’re getting told from GameStop to issue a split-via-dividend, and the DTCC to handle it as a regular split. Some Europeans saw shares disappear from their account, only to be added again later. There was mass confusion, and eventually all these different platforms said “well were just going to process this as a regular split.”
I think that was the single biggest confirmation that something was going on with this stock. Something made it stand out. Something meant it couldn’t follow the same “rules” of other stocks.
See the DTCC thing was suspected well before the stock split. You don’t technically “own” your shares when you buy them on a platform like E*Trade, instead the transaction is handled by a private company that holds them “on your behalf” as a middleman. How do you know they’re not lending out shares to market makers or saying there’s more shares of a stock then there really are? Well you don’t.
So prior to that, investors started directly registering their shares. And clearly they were doing something right because on their quarterly reports, GameStop started tracking how many investors were directly registered, even though they don’t have to and as far as I realize most other companies don’t. The number crawled higher and higher, people made a game out of showing off how many shares they’d directly registered—meaning direct ownership of your shares in your name. And eventually we reached a point where it’s become mathematically impossible for GameStop to trade as it does. Anyone who’s directly registering their shares aren’t selling, they’re going through all this paperwork and social pressure to hold shares directly in their name—yet in spite of that, the entire free floating shares would be traded over the span of one, sometimes two days. That wouldn’t just mean that all the
other people directly registering their shares are selling, it would mean I’d have had to sell my shares and buy them back again too! And unless I developed Alzheimers before I’m even 30, then I know for certain I didn’t. Everyone else is saying they didn’t either.
I think retail investors have directly registered somewhere close to half the free floating shares. I can’t remember exactly where we left off, because funnily enough the number stopped increasing even as more and more people were buying hundreds of shares worth to directly register, each. Again, that convinced me something was up.
And lastly, this is more instinct than analysis, but I’ve never seen hedge funds so concerned for my financial well-being until I invested in GME. I guess they had a change of heart after throwing tons of people onto the street in 2008, because they keep telling us to sell: sell now and question later, sell before it goes to zero, whatever you do, just sell the stock! Random redditors would send DMs: “well I sure hope you sell your GameStop.” When posters began tricking bots into talking up $ASS and $CUM it was clear a lot of bots were real interested in what a bunch of retards were trading in.
I’m sorry, but it’s just easier for me to believe me and some others stumbled on a gold mine, then for me to believe Citadel Securities wants some working class shlub to make smart financial decisions. It’s Count Alucard telling me to clean my neck and visit him in his carpathian fortress—and whatever I do, don’t bring Garlic.
I’ve seen, I dunno, a hundred articles by now imploring me to forget GameStop, claiming some other stock is “the new meme stock craze.” CNBC has happily announced that short sellers have covered their position and the saga is over, only for GameStop to have another run and them to awkwardly admit short sellers lost another Billion dollars.
It might seem childish, but if the most transparently evil rich sociopaths on earth tell me
not to do something, I get a strong urge to do it.
>>1854801>Also - to offer my own critique, you don't really have any proof of the 'naked short' theory do you?This was years ago, but I believe court/congressional documents openly said that courts had a short position multiple times larger than the free float. There's been other cases stocks where naked shorting has occurred, what makes GameStop unique was that they were caught with their pants down, panicked, and doubled down on their stupid bet. As
>>1854806 said
It's like if you're driving down the highway with 10 kilos of Cocaine in your car, when you suddenly see lights and hear a siren behind you. The cops are telling you to pull over. Now are you gonna stop and spend God knows how many years in federal prison, or are you going to hit accelerate and take your chances? They chose to hit the gas and run over some pedestrians; yeah whatever punishment they face if they get caught is worse, but the fact is you'll eventually cross a point where eventually it doesn't even matter how long the jail sentence is, because you're gonna spend the rest of your life behind bars if you're caught anyways. Your best bet is to push it as hard as you can and pray to Christ that you're crazy enough to get away with it all.
Y'know that's what makes GameStop perfect. It's stupid. It's really fucking stupid. If it was, I dunno, an oil company with a few empty wells, you wouldn't see hedgies take out such an insanely large short position. An oil company can always find a new well. GameStop? It's "a dying brick and mortar". How can it compete in a world with Amazon, with streaming services, with online retailers, with game companies moving more towards virtual marketplaces and less towards physical media? It's perfect! Who gives a fuck if you're committing fraud, it's just another Toys R' Us or Blockbuster for you, it's gonna die and you'll get rich.
That is, of course, unless it
doesn't, in which case you thought you had a sure bet and you fucked yourself.
>Even if it was true, wouldn't the hedge funds simply buy back enough shares to close out their position over time? Which would also drive the price of Gamestock shares up rather than on the general downward trajectory they've had since 2021?The problem with GME investors being so irreverent is that when you talk about some technical analysis you'll sound like a crazy person. But there's a problem the shorts face. Not only did they, like I said, short more GME shares than they could ever buy back, but the higher the price goes the more money they're losing, which increases their chance of getting margin called. The lower the price goes, the more retail investors snatch up shares and directly register them, making it that much harder to exit their short position. They're caught between two moving walls: can't let the price get too high, can't let the price get too low.
Someone did some technical analysis that we jokingly refer to as "The Dorito of Doom" or sometimes "Danny Dorito". Basic premise was he seemed to have uncovered the algorithm they were using on GameStop to cause a slow bleed: keep the price on a low trajectory, slowly bleed it, let it rise only to bleed it again. It was theorized that when GME "broke" through the Dorito and stayed above/below one of the lines, it would experience a sudden, rapid acceleration either up or down. Well, the TA was essentially proven correct on Monday, pic related.
>>1854793I don't know. None of us do. No one knows how high this thing will go. But that's part of the fun. This is a wholly unprecedented event.
Maybe the government will step in and put a cap on GME's share value. Maybe it won't. Wouldn't you like to find out, though? Maybe we'll all get rich, maybe we won't, but wouldn't you like to find out? You've got a fast car with a state-of-the-art engine, wouldn't you want to see, just once, how fast this fucker can go?
That said, the meme is "hold till you see phone numbers", but I'm not sure if it'll get to that point. Eventually the Prisoner's Dillemma will set in. I've personally held past a point where I saw I think around $70k in my portfolio (only invested ~$12k or so) and I didn't sell a share. But will I, or others, feel the same as the share prices creep up? Sure maybe I'll want to wait until it hits, I dunno, $10k a share, maybe someone else will sell at only $1k, no one knows!
You don't want to sell it all at once though, that much is clear. Once it looks like the trajectory is starting to go downwards you want to sell it piecemeal, because it could shoot up again afterwards. None of us know what the "peak" will be.
At $1k a share I'd be making $745k, that's quite a chunk of change. $10k a share would be $7.4 million; shit that would be nice to cash out, wouldn't it? If I end up seeing some millions of dollars in my account, will I hold? I don't know. I just know I won't sell everything at once.
>>1854873Well, I dunno. Obviously you've thought about it more than I have. There's something in me that is tempted to go for some crazy stock bullshit myself but I feel like most stock hobbyists end up losing money when they go up against huge firms. If you could show me the proof of the short position being overleveraged then that would convince me more but I understand research is a pain. I guess it is pretty weird for the price to shoot up like that, there must be something going on.
The video I posted did provide some possibly-innocent ish justification for Robin Hood et al shutting off trading in GME when the big bubble happened, it was that when the customer buys a stock and pay with their credit/debit card it takes a day or two for the money to actually end up with the company and if the money isn't there they end up with nothing. So buying huge amounts of shares they fear might be worthless might leave them high and dry if all that money doesn't come in. But sure it could all be collusion. The prospect of infinite gains just strikes me as a bit unlikely though.
Oh yeah and I'm also too lazy and disorganised to play the market. Oh well. I hope you're right and best of luck to you, you can certainly come back here and celebrate if you end up being right.
>>1861285He came to spam his bullshit luring people in, he made money for the millionaires and the gamestop insiders and then he forgottten about it.
>>1861285>>1861286Well he would probably claim this price drop is due to sneaky wall street insiders tanking the price after hours. But I dunno. It's still $5 higher than it was 2 weeks ago anyways.
>>1861296He reported here when it was like double that
>>1861286>He came to spam his bullshit luring people in, he made money for the millionaires and the gamestop insiders and then he forgottten about it.Lol, been holding for 3.5 years man; haven't sold a single share.
>>1861296>Well he would probably claim this price drop is due to sneaky wall street insiders tanking the price after hours. But I dunno. It's still $5 higher than it was 2 weeks ago anyways.I mean, yeah? Seriously are y'all so obsessed with vibes you can't just look at a chart and see major price fluctuations occurring after hours? Pic related. Shit you even have my post here, too:
>>1856556I mean this is just further proof that the people whining about shilling or that I'm wrong just want me to be wrong, and they're so intent on "proving" it they're devolving to:
>"You really think Hedge Funds would do that? Just manipulate the price?"Honestly it's just proof positive that people mistake "materialism" for just blind cynicism. Yeah if you're cynical you'll be right more often than you're wrong, but it's led people on here to go to absolutely silly lengths to claim I'm wrong. Shit, when I pointed out that GameStop's own board keeps buying shares (which
only means they expect the stock price to go up) or that Ryan Cohen is paid depending on stock performance, I'll get
>"Uhh well maybe they're just buying shares 'cause they have to!">"This is all a scam, anyways."The price shot up to, what, almost $70? And that was on no news. It's literally just because LEAPS that Hedge Funds took out 3.5 years ago were coming due: which reinforces the argument that shorts never closed out of their positions. People will look at that and huff that retail just bought a ton of shares for no reason, then decided to sell them all after hours, again for no reason.
>>1876501He will come and tell you to buy right at the top. Just wait and see.
>>1876501How quickly do they report on suspicious congressional trades? I'm going to make them my new stock advisors.
>>1861636I'm holding some good amount of GME stocks, comrade. Just FYI.
>>1876506>He will come and tell you to buy right at the top. Just wait and see.This, stock advisors and "signals people" are not to be trusted, you are liquidity.
>>1876506he probably will but he also told you to buy at the bottom so..
>>1876501Mostly moving away from /leftypol/ these days but I figured I'd come back with a GME update (because I told you so).
So long story short, when this whole saga started the shorts didn't cover (like I said) and instead pushed their bad bets back using a financial tool who's name I can't quite recall right now. Essentially offloading risk for 3.5 years. When Keith Gill, aka Roaring Kitty/DeepFuckingValue came back, it was because he was aware of that due date expiring which would cause a runup in the price of the stock. So he's been on a posting storm and he's gonna do his first livestream in years tomorrow.
As it stands, a bunch of $20 call options for GME are gonna expire Jun 21st I believe, and it's highly likely he's gonna exercise them, which will force short hedge funds to locate shares and again drive up the stock's price. As it stands right now, it seems Hedge Funds are trying
everything to kill FOMO.
Look at how high the stock price is shooting up vs the volume its trading at. As crazy as this sounds, I think we're finally in Act 3 of this insane saga.
>>1876506>He will come and tell you to buy right at the top. Just wait and see.Since this thing started I haven't sold a single fucking share. I've had people call me crazy or stupid or bad with money. I've had people laugh every fucking time the price goes down and huff that "Oh it's going to zero."
Throughout that I haven't sold a
single fucking share. I've posted my position on here plenty of times. Anyone can judge me for it, but they can't say I'm not putting my money where my mouth is. Meanwhile the people calling me crazy weirdly enough never open up a short position. Like if I'm obviously wrong then you could essentially have a money printer by shorting GME. Of course you won't do that because you know, deep down, that you'll lose money on it.
Seriously there's no short thesis now other than to keep huffing "IT'S A DYING BRICK AND MORTAR! IT'S GOING TO ZERO FAST!" GameStop has no debt, tons of assets,
$2 billion dollars in the bank and a legion of investors crazy enough to see decline in share price as a zero.
You know who else hasn't sold? Keith Gill. He could have
half a billion dollars right fucking now, but he's holding out. Because he believes in the stock and so do I.
https://www.reddit.com/r/Superstonk/comments/1d9rq9t/gme_yolo_update_june_6_2024/#lightbox>>1876624I'm not a stock adviser. I'm a grocery store worker who saved up enough money to make a bet.
>>1876625>he probably will but he also told you to buy at the bottom so..I've been telling people to buy for over 3 years now. My message has been consistent: I genuinely believe in the short squeeze thesis. I believe that what happened over 3 years ago was a blip, and that the real squeeze is still coming. To some extent I feel like some guy telling everyone to buy bitcoin when it was worth just a few bucks. If people listened and held, then they could end up rich. All I need is for the stock to shoot to $1,500 a share (which is entirely possible) and I'd be a millionaire, before I'm even 30!
What people do with their money is their business. I've given people plenty of chances to get into what I think is a sure bet, and people called me crazy. We'll see who's right in the end, but I find it a little silly that people will get so mad about how I spend
my money yet for all that haughty confidence they won't take a bet against me. It's like some asshole who talks shit at a bar then mysteriously says "Well I'd kick your ass but, uhhh, I don't want work asking why my fists are bruised in the morning." It seems like pussy shit. At least hedge funds are actually making a counter bet and being so smug because their livelihood's on the line.
Y'know I've thought a lot about what to say if it turns out I was right this whole time, and the truth is: nothing. I don't think there's anything I can say that will compare to the feeling of missing out on a golden opportunity. I still hear people sighing "Man, I wish I bought bitcoin when it was cheap." Coworkers and friends mostly. But they were only ambiently aware of Bitcoin. Me? I'm telling people directly about a unique stock opportunity, a once in a lifetime thing. There's never,
ever, gonna be another GameStop. The flaws in financial markets it emphasizes will have to be fixed for the sake of Capitalism to remain working. It's a train to moneyville, and I've been holding the door open for over 3 years so as many people can get on as possible. For that, I've been called a whole bunch of nasty shit and mocked relentlessly. Well, the smokestack just started billowing, the pistons are trundling, but I think the door's still open for a few people. The question is whether you want to hop on, or whether you'll listen to the people at the station yelling that the only place the train's going is off a cliff.
If I'm right (and I genuinely think I am) then the haters are gonna spend the rest of their fucking life kicking themselves. Nothing I'll say will be able to top the uyghling feeling they'll get, forever, "Man if I just listened." Every time they have a rough day at work, or have to tighten their belt for financial reasons, or when they realize something they want isn't in their budget, they're gonna remember the fact that I told them about an alternative. That if they just constrained their ego and
listened they could've been rich. Every rainy day, every shitty boss or customer, every bit of envy, they're gonna be thinking about this in the back of their mind.
Me? I'd given up on home ownership. I'm prepared to lose what I've invested. If I'm wrong, I'll get over it. I don't think that'll possibly compare to the lifetime of regret that comes with knowing someone once offered you a chance to buy bitcoin at $0.50 a coin, and you laughed and said it wouldn't even be worth half that much.
>>1878535I believe ya, cpusanon. How do I drs my shares if I'm outside of america btw?
Did cpusa anon just started doing crypto or something?
>>1878550Nah I invested in GameStop. The possibility of a short squeeze however means it could see extreme price movement/valuation even against what would be considered "rational" for the stock; in much the same way that Bitcoin is worth $50k despite most businesses still not using it.
>>1878549I think this site has all the info you need.
https://www.drsgme.org
>>1878535>I think the door's still open for a few people.it's gone up to $45 now, I think any opportunity for people to jump in is over.
>>1878563Depends how much they’re willing to invest and how long they’re willing to hold. If you spend $45 ($50 after hours last I checked) and that one share becomes worth $1000, are ya gonna look at $950 in profit as a bad thing? For the cost of a new video game you could buy a new graphics card.
>>1878535so you dont think the sec or ftc is just going to jail roaring kitty and take his stocks for market manipulation on some bs technicality?
also what is your exit target or are you one of the never sell GME becomes the new currency and starts buying land and becomes its own government types
>>1878863>so you dont think the sec or ftc is just going to jail roaring kitty and take his stocks for market manipulation on some bs technicality? I imagine he’s being advised by lawyers that’ll keep him out of jail, I’ve got very little faith in the sec but it
seems like Gary Gensler is at least a little sympathetic. As it stands I don’t see any case being able to hold water against Keith Gill, the fact that this also has elements of the bourgeoisie investing in GameStop means it isn’t just a straight “proles vs capitalists” kind of thing, there’s folks that could make it a real headache for the state if they try going after Keith Gill. I mean at the end of the day all he did was buy a stock he liked, and then shitpost a ton.
>also what is your exit target or are you one of the never sell GME becomes the new currency and starts buying land and becomes its own government typesI don’t think it’s gonna be “GME replaces fiat currency” but during the previous Volkswagen short squeeze it was briefly one of the most valuable companies in the world. Now for GameStop to get to that point it’d have to be around $8,870 a share. At that point my investment would be worth $6.6 million.
This is pretty unprecedented, and once the price starts skyrocketing you’re looking at uncharted territory. We don’t know when, if anywhere, this thing would peak. So I plan to let it ride a bit, and then sell on the way down.
Like that’s the thing; it ain’t going to to go from $61 (where it’s at rn) to $10,000 for a minute and if you miss that you’re fucked. There’ll be some dips along the way. I want to sell it piecemeal to maximize my chances of making a big profit, rather than all at once.
>>1878556Short squeeze is a myth
What do you think about BBBY apes?
>>1878535Just because you believe it and it's your money at stake doesn't make it real. You guys are holding the bags for people who've already cashed out of the scam. The only way for you to cash out yourselves is to get a second wave of apes to hold bags for you i.e. it's just a speculatory pyramid scheme
>>1878893Keith Gill didn’t sell. Ryan Cohen didn’t sell. Again this is what I’m talking about; fucking vibes based analysis. You’re talking about people selling and everyone else holding the bags but you don’t have any evidence for that. You
feel that people sold and the rest of us are holding the bag, and that’s as good as truth in your mind.
>>1878897>Ryan Cohen didn’t sellHe didn't sell BBBY?
>>1878903I’m talking about GME
>>1878906So, he will sell when he sees trouble. Do you even look at what GME is doing as a company? Or do you just hodl?
Okay, let's assume the short squeeze exists in the room with us right now. Who's going to pay you your money? What, you expect the government to step in and bail you, bagholders, out, instead of eliminating your stock and awarding a victory in the dispute to squeezers?
>>1878909He’s had plenty of opportunities to sell when GME was at a loss; BBBY is ultimately irrelevant. Cohen gets paid based off stock performance of GameStop and so does most of the rest of the board if I recall correctly.
Also pretty funny you’re talking about whether we actually pay attention to the company, because as of right now GameStop is profitable, has plenty of assets, $2
billion in the bank, and no debt. So where exactly is this short thesis coming from? “Uhhh the vibes say things will change! Cohen is gonna drop the company now that it’s profitable because… because he just will!”
Also the government just randomly deciding “this company with thousands of employees and plenty of assets has to be shut down because it’s worth a lot.” Is equally silly. It’s a great way to kill any remaining trust in America’s markets.
>>1878916Oh and one addendum, the money will come from the shorts who, upon failing a margin call, will have their positions liquidated and the debt goes up the chain until it reaches the DTCC, which handles literal quadtrillions in stock transactions and holds $72
Trillion in securities.
>>1878897>Keith Gill didn’t sell. Ryan Cohen didn’t sell.So they have a vested interest in pumping up the stonk as high as possible before they
do sell.
>Also the government just randomly deciding “this company with thousands of employees and plenty of assets has to be shut down because it’s worth a lot.” Is equally silly. It’s a great way to kill any remaining trust in America’s markets.I'm not a financeologist, but if they can bail out banks to keep finance capitalism stable they I'd think they could absolutely step in and do some fuckery in this case, "trust" be fucked. But I imagine it would depend entirely on the internal power dynamics of the bourgeoisie, which I'm not privy to.
Of course, I'm still hoping you're correct and I assume there is some chance you are.
Perhaps I even bought a little myself, who knows.
>>1879438try adjusting the scale so its not over a six hour period
>>1879449He said CPUSA anon said to buy at close yesterday and his graph shows from open today.
>>1879460And you would've lost as much in one day if you bought yesterday.
>>1879019>So they have a vested interest in pumping up the stonk as high as possible before they do sell.<Investors try to see stock price grow<This is somehow terrifying>>1879438>Like clockwork, he came to tell you to buy exactly at the topI'm offering my opinion. I've bought at highs and bought at lows, haven't sold any.
>>1879449>>1879452I've never specified a time to buy. I just buy whenever its available. Thing is when the stock price is cheap I get called an idiot and crazy and told it's going down to zero. When there's momentum and the stock price is going up I get told I'm manipulating people. So there's really no winning.
>>1879460Honestly I'm kicking myself for not buying more when it was at $10, but as it stands I've got a comfortable enough position already.
>>1879465>And you would've lost as much in one day if you bought yesterday.Then maybe buy now while it's at a discount? Unless this is gonna be the "final dip before it goes to zero" for the umpteenth-fucking-time.
Seriously, make whatever decision you want with your money; I'm a bit weirded out by this "CPUSA ANON IS TELLING US WHEN TO BUY" shit because in my OP I simply said I've told people to buy in for 3 years, I never specified a time, how many shares you should buy, etc. The only difference is positive price movement lends credence to my claim, which people turn around an accuse me of manipulating folks when the price is shot down.
Shit if DFV can get on a stream just to shitpost and tell people he's not worried, I'm gonna trust him.
It seems Gamestop does a dilution every time the squeeze seems like it's about to happen, staving it off. So on the one hand no gamma squeeze, on the other a ridiculously liquid company. The world's most interesting stock for sure.
funny how this whole thread is now about it, perhaps time to branch off?
https://www.thebignewsletter.com/p/economic-termites-are-everywhereThese termites are in the infrastructure or guts of business, like recruiting services, construction equipment or software, the industrial gasses that go into chemicals and electronics, and so forth. It’s the stuff you don’t see that makes our world turn, there’s fortunes to be made, and bottlenecks to foster.
They also explain a dynamic we all face, a profound wariness in our society, a sense that stuff just costs more and is more difficult, for no discernible reason. Added up, these end up sapping our faith in the American system, because they make what seem like simple problems become not just unsolvable, but not even capable of being diagnosed. In this issue, I’ll cover some of the companies you don’t realize are gnawing at the foundation of our society - Verisign, Autodesk, Linde, Assa Abloy, Gracenote, and LinkedIn. And yes, there are legal tools to address them. But first we have to realize that these bottlenecks are everywhere.
>>1885376It was just a deal. There's still a whole lot of inertia behind USD. Maybe if China forces exclusivity onto Saudis so that Saudis sell ONLY in Yuan then situation's going to change overnight, but as it is now - still a slow painful grind
>>1879460DeViL hOrNs!! SeLl NoW! 666
>>1880504Termites are natural products of earth, unlike neoliberal freakazoids
>>1895716how much can I put in monthly ?
>>1902192Well as much as you want so long as it doesn't go over £20k in a year. So £1666.66 if every month.
Bear in mind you can put any extra money into an index fund also but the returns will be slightly less because you have to pay capital gains and so on.
>>1902209Oh and if you already have an ISA savings account through your bank then converting that to a stocks and shares ISA doesn't count towards the yearly limit.
>>1902189Pretty much the latter.
$10,000 won't even buy a single industrial machine in many settings.
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