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Here's the last thing I'm going to say about the whole $GME hedge fund thing. I sincerely hope, though doubt, that the powers that be take this as the warning sign that it is.
Contrary to what some of these Wall Street folks have been saying, the people who drove this 1/
Contrary to what some of these Wall Street folks have been saying, the people who drove this 1/
were not people living in mom's basement deciding to blow their $600 stimulus checks. They were primarily white collar millenials, most of whom probably make decent money. I'd also be willing to bet that the majority of the folks who invested did not expect to 2/
really make any money out of the deal. If the reddit comments are any indication? Folks just wanted to screw around with a hedge fund. No one gave a shit what kind of money was invested in that fund. Folks just loved watching a group of wealthy people's hair catch 3/
on fire and run whining to the press.
And if you're being honest? Most of you did too. You laughed for the same reason I laughed. Because watching a group of redditors with names like BigThiccDaddy69 make the trust fund crowd panic felt like a kind of cosmic 4/
And if you're being honest? Most of you did too. You laughed for the same reason I laughed. Because watching a group of redditors with names like BigThiccDaddy69 make the trust fund crowd panic felt like a kind of cosmic 4/
justice, even if you knew it was short lived. Because you know what I know - these hedge fund managers and their ilk would not care if you died freezing to death under a highway overpass as long as their portfolios continued to yield big returns.
In return? 5/
In return? 5/
Most of us don't give a shit right back. Wall Street will say now what they said 100 years ago - we're just jealous.
But that's not quite right, in my estimation. I think what has happened is millions of Americans have reached near nihilism. They know they're getting 6/
But that's not quite right, in my estimation. I think what has happened is millions of Americans have reached near nihilism. They know they're getting 6/
screwed and they don't see any path out because the powers that be on both sides seem pretty well bought and paid for.
Given that? If they can lose $500 in order to panic their social and economic betters, why not?
Unfortunately, I am afraid that what will come 7/
Given that? If they can lose $500 in order to panic their social and economic betters, why not?
Unfortunately, I am afraid that what will come 7/
out of this will just be legislation and regulation making this harder to do. The exact wrong solution, because it will just make people madder. /end
