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Zisky
May 6, 2003

PM me and I will show you my tits
poo poo maybe I should return the vacuum.

Ed: double poo poo

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BrutalistMcDonalds
Oct 4, 2012


Lipstick Apathy
https://www.youtube.com/watch?v=7RH4XKP55fM

quote:

Wall Street is furious. The small investors have ‘rigged’ the market, they cry, threatening the value of your pension funds and putting banks in jeopardy. This is nonsense, of course. What it actually shows is that financial markets are ‘rigged’ by the big boys and it’s small investors who are usually the ones that get ‘shafted’ and swindled in this gambling den. As Marx said, the financial system “develops the motive of capitalist production”, namely “enrichment by exploitation of others’ labour, into the purest and most colossal system of gambling and swindling and restricts even more the already small number of exploiters of social wealth” (Marx 1981: 572).

Of course, in the current battle, the small investor will lose out in the end. Massachusetts state regulator William Galvin has already called on the New York Stock Exchange to suspend GameStop for 30 days to allow a cooling-off period. “This isn’t investing, this is gambling,” he said. No sweat! And already, small investors are seeing a hike in the charges and limits on their trades by brokers and market makers (the casino owners) to deter them from trading. And there is talk at the top of ‘regulating’ the market to stop investors ‘ganging up’ on the ‘legitimate’ institutions of Wall Street. The price of GameStop is now falling back.

For working people all these shenanigans may appear irrelevant. After all, most working households have little or no shares at all. The top 1% of households owned 53% of US stock market wealth, with the top 10% owning 93%. The bottom 90% own only 7%. However, workers’ pensions and retirement accounts (if workers have them) are invested by private pension fund managers into financial assets (after deducting very nice commissions). So what savings working households do have are vulnerable to the gambling activities of the swindlers in the financial casino – as the global financial crash of 2007-8 showed.

What this little story of GameStop shows is that company and personal pension funds run by the ‘smart people’ are really a rip-off for working people. What is needed are state funded pensions not subject to the volatility of the financial game. The big hedge funds have been burnt in this latest skirmish by some small investors and they want to get these minions out of the game. What working people should want is to stop this game altogether.

https://thenextrecession.wordpress.com/2021/01/28/stop-the-game-i-want-to-get-off/

Rectal Death Adept
Jun 20, 2018

by Fluffdaddy

Stereotype posted:

yeah that's how a healthy economy works

that stocks are insane and irrational and divorced from reality as cryptocurrency will probably crack ping a lot of people that thought there were ~Fundamentals~ and that you could actually use technical analysis and graphs to psychically predict that Gamestop would be $4 tomorrow or whatever. WE HAVE INSTITUTIONS! WE HAVE RULES! PEOPLE GO TO SCHOOL FOR THIS!

I fully expect that Biden/Yellen announcement tomorrow at 9am to be something really dumb and along those lines. "Sorry everyone we must take an unforeseen trade holiday due to risks to the grand institution of the stock exchange" which lets the hedge funds out of their contracts somehow without losses due to a loophole.

That realization that our entire economy basically revolves around things like dogecoin is why my portfolio is 10% crypto 40% stocks and 50% beans/bullets.

Mr. Lobe
Feb 23, 2007

... Dry bones...


Rectal Death Adept posted:

that stocks are insane and irrational and divorced from reality as cryptocurrency will probably crack ping a lot of people that thought there were ~Fundamentals~ and that you could actually use technical analysis and graphs to psychically predict that Gamestop would be $4 tomorrow or whatever. WE HAVE INSTITUTIONS! WE HAVE RULES! PEOPLE GO TO SCHOOL FOR THIS!

I fully expect that Biden/Yellen announcement tomorrow at 9am to be something really dumb and along those lines. "Sorry everyone we must take an unforeseen trade holiday due to risks to the grand institution of the stock exchange" which lets the hedge funds out of their contracts somehow without losses due to a loophole.

That realization that our entire economy basically revolves around things like dogecoin is why my portfolio is 10% crypto 40% stocks and 50% beans/bullets.

The nice thing about investing in beans is that you can grow more beans from the beans you already have

Jon Carbuncle
Sep 21, 2002


Soiled Meat

mad.radhu posted:

mf said AOL

Zisky
May 6, 2003

PM me and I will show you my tits
When you think about it robinhood basically buried reddit's beans.

Unsinkabear
Jun 8, 2013

Ensign, raise the beariscope.





If you are an idiot like me and getting in on this poo poo late for laughs, don't check the WeBull application box that you would also like to apply for a crypto trading pass or whatever the gently caress. I wanted one comedy share of dogecoin to annoy the crypto haters itt, and now the whole drat account is stuck for 1-2 days pending approval. :argh:

Xaris
Jul 25, 2006

Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

Unsinkabear posted:

If you are an idiot like me and getting in on this poo poo late for laughs, don't check the WeBull application box that you would also like to apply for a crypto trading pass or whatever the gently caress. I wanted one comedy share of dogecoin to annoy the crypto haters itt, and now the whole drat account is stuck for 1-2 days pending approval. :argh:

:owned:

gently caress crypto

Finicums Wake
Mar 13, 2017
Probation
Can't post for 8 years!

BrutalistMcDonalds posted:


After all, most working households have little or no shares at all. The top 1% of households owned 53% of US stock market wealth, with the top 10% owning 93%. The bottom 90% own only 7%. However, workers’ pensions and retirement accounts (if workers have them) are invested by private pension fund managers into financial assets (after deducting very nice commissions). So what savings working households do have are vulnerable to the gambling activities of the swindlers in the financial casino – as the global financial crash of 2007-8 showed.


do you understand how 'defined contribution' plans like 401ks fit into this?

BrutalistMcDonalds
Oct 4, 2012


Lipstick Apathy

Finicums Wake posted:

do you understand how 'defined contribution' plans like 401ks fit into this?
nope. any thoughts?

A Bakers Cousin
Dec 18, 2003

by vyelkin
https://twitter.com/Zoah_HS/status/1355074685566939137?s=19

try more magnesium
Jul 3, 2006

this is my posting face
i love to post
i started loving around on robinhood in march with basically nothing because im not well paid, got a bunch of referral stocks from sharing my signup link (including 8 GME which i loving sold) and have futzed around with it ever since just sorta slowly making small amounts of money here and there with basic cash trading and no fancy stuff since i dont know enough about it to try. ive made probably over $1000 on it takinginto account the losses and if i had more cash to sink into it i would have been making real money so basically, i now have zero respect for anyone who does this professionally. im below the federal poverty line and every time i log in to RH its like finding $5 on the ground, which adds up for me. it owns.

the best return on investment i made though was when i left like $5 in my BTC wallet about five years ago after buying modafinil, and then checked the balance last year and had something like $400. i should have let it ride obviously but who could have known

Mr. Lobe
Feb 23, 2007

... Dry bones...


try more magnesium posted:

i started loving around on robinhood in march with basically nothing because im not well paid, got a bunch of referral stocks from sharing my signup link (including 8 GME which i loving sold) and have futzed around with it ever since just sorta slowly making small amounts of money here and there with basic cash trading and no fancy stuff since i dont know enough about it to try. ive made probably over $1000 on it takinginto account the losses and if i had more cash to sink into it i would have been making real money so basically, i now have zero respect for anyone who does this professionally. im below the federal poverty line and every time i log in to RH its like finding $5 on the ground, which adds up for me. it owns.

the best return on investment i made though was when i left like $5 in my BTC wallet about five years ago after buying modafinil, and then checked the balance last year and had something like $400. i should have let it ride obviously but who could have known

It was smart to quit while you were so far ahead, nobody knows what tomorrow brings

Mr. Lobe
Feb 23, 2007

... Dry bones...


Also how was the modafinil

Egg Moron
Jul 21, 2003

the dreams of the delighting void

All on this just proves that hard work in the conrwxt of our society is for loving suckers

try more magnesium
Jul 3, 2006

this is my posting face
i love to post

Mr. Lobe posted:

Also how was the modafinil

modafinil is alright. you gotta watch out for histamine effects though, and dehydration. you dont need to use BTC to buy it anymore which is convenient

Yossarian-22
Oct 26, 2014

ThisIsJohnWayne posted:

Yesterday is a forgotten land, roads walked, looking at the clouds up above. What mysteries do those lands shelter? What dreams of tomorrow did they bring? Lo

Tomorrow is Today.

The snow falls. Drink your fill. Grab your hammer, and buy GameStop




E. And for the love of everything holy in this world, SELL BEFORE THE BOTTOM DROPS WHICH WILL BE WHEN THE HEDGE'S SHORT POSITIONS GET SETTLED. Better a bunch of brokebrained leftist millenials than completely broke brokebrained leftist millenials

^Please tell me what this means??????? When they get settled? How do I know when this is

try more magnesium
Jul 3, 2006

this is my posting face
i love to post

Egg Moron posted:

All on this just proves that hard work in the conrwxt of our society is for loving suckers

Xaris
Jul 25, 2006

Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

try more magnesium posted:

modafinil is alright. you gotta watch out for histamine effects though, and dehydration. you dont need to use BTC to buy it anymore which is convenient

yeah histamine part of it sucks. i used to get a killer neckache on it after awhile and a little very minor nagging headache. it also won't give you magic focus ability, but it will erase the part of brain that say "im tired", just completely vaporize it. dont mistake that for energy--it's not, it just pushes the "im tired" thought away entirely but that's not the same as having energy. not having your brain consumed by "i'm tired" is in itself a form of energy and focus-assisting but you still gotta put in the effort to do poo poo

it is and it isn't simultaneously a wonderdrug. it does a job way better than caffeine and a lot more cleaner feeling, but it also isn't going to going to make you smarter or hyper-focused. it was sort of one of those things for late-nighter papers and homework and poo poo or really crappy mornings where you're just dragging massive rear end

thank god college is now a decade behind me

Xaris has issued a correction as of 11:41 on Jan 29, 2021

DuK2gO
Mar 6, 2007
kek

Yossarian-22 posted:

^Please tell me what this means??????? When they get settled? How do I know when this is

He was already told he was incorrect since they shorted the stock they do not ACTUALLY own the stock. Therefore buying it at ludicrous prices to cover the contract. So if the hedge fund shorters cover their short the stock price skyrockets.

Goa Tse-tung
Feb 11, 2008

;3

Yams Fan

Yossarian-22 posted:

How do I know when this is

by reading the thread or the many tl:dr's posted elsewhere?

TDepressionEarl
Oct 28, 2010


I'm trying to win the World Cup
but I'm dummy thicc
and the clap of my ass cheeks
keeps playing Argentina onside


3000 deaths per day every day for a month doesn't constitute force majeure, but videogames oh those videogames

Yossarian-22
Oct 26, 2014

Goa Tse-tung posted:

by reading the thread or the many tl:dr's posted elsewhere?

don't be a dick i am a stupid baby

comedyblissoption
Mar 15, 2006

is "lending" the same stock multiple times to short functionally any different than shorting a stock without having technically being lended it

Happy Thread
Jul 10, 2005

by Fluffdaddy
Plaster Town Cop

https://twitter.com/Zoah_HS/status/1355094769035313152

HiHo ChiRho
Oct 23, 2010

Lol amc is almost up to 13 bux a share.

Today gonna be nuts

a new study bible!
Feb 2, 2009



BIG DICK NICK
A Philadelphia Legend
Fly Eagles Fly


Now that RH is allowing you to buy GME again I am ready to throw gas on the fire....

But I'm going to wait for market open to buy the dip

CyberPingu
Sep 15, 2013


If you're not striving to improve, you'll end up going backwards.

HiHo ChiRho posted:

Lol amc is almost up to 13 bux a share.

Today gonna be nuts

In what direction though...

Mr. Lobe
Feb 23, 2007

... Dry bones...


CyberPingu posted:

In what direction though...

Stay tuned to find out!

Yossarian-22
Oct 26, 2014

my stupid loving robin hood says i don't have enough for doge any more but it still lets me buy amc?? so confused

try more magnesium
Jul 3, 2006

this is my posting face
i love to post

Xaris posted:

yeah histamine part of it sucks. i used to get a killer neckache on it after awhile and a little very minor nagging headache. it also won't give you magic focus ability, but it will erase the part of brain that say "im tired", just completely vaporize it. dont mistake that for energy--it's not, it just pushes the "im tired" thought away entirely but that's not the same as having energy. not having your brain consumed by "i'm tired" is in itself a form of energy and focus-assisting but you still gotta put in the effort to do poo poo

thank god college is now a decade behind me

yeah. the combo of neck tension and histamines will trigger a migraine for me automatically regardless of my water intake. taking it with cetirizine helped me a lot with that. thanks, US air force.

Ghost Leviathan
Mar 2, 2017

Exploration is ill-advised.
I feel like trying to stop people buying stocks has basically piled the Streisand Effect on top of all this hilarious bullshit and people will now crawl over broken glass to buy gamestop

Mr. Lobe
Feb 23, 2007

... Dry bones...


Ghost Leviathan posted:

I feel like trying to stop people buying stocks has basically piled the Streisand Effect on top of all this hilarious bullshit and people will now crawl over broken glass to buy gamestop

I love the future

Rectal Death Adept
Jun 20, 2018

by Fluffdaddy

CyberPingu posted:

In what direction though...

Nobody knows.

You can try and make an informed decision based off of what people are saying which is a lot of random poo poo.

The real gambling aspect comes in when you have poo poo like Citadel Captial's Janet Yellen rushing to Joe Biden yesterday and announcing a joint pre-market statement in about 3 hours.

The news of that could either make everyone go bankrupt (protecting the rich with a trade halt or letting them out of their contracts) or drive the market into a frenzy (announcing that robinhood will be investigated and brokerages can not limit the free trade of stocks)

In addition to that i guess a meteor could hit the NYSE or Dogecoin could go to a billion dollars despite being literally worthless.

Terper
Jun 26, 2012


I thought this couldn't get funnier and then, cancer.

Tiler Kiwi
Feb 26, 2011

Yossarian-22 posted:

my stupid loving robin hood says i don't have enough for doge any more but it still lets me buy amc?? so confused

rh wont let you buy with instant deposits. if you earned anything off stocks you can waste it that way tho.

just earn a billion on amc and dump it into the meme money, ez

Xaris
Jul 25, 2006

Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

try more magnesium posted:

taking it with cetirizine helped me a lot with that. thanks, US air force.
oh huh that would been useful to know 12+ years. oh well. gently caress college

bird.
Jun 20, 2010

Ghost Leviathan posted:

I feel like trying to stop people buying stocks has basically piled the Streisand Effect on top of all this hilarious bullshit and people will now crawl over broken glass to buy gamestop

yeh heh heh it OWNS!!

Rectal Death Adept
Jun 20, 2018

by Fluffdaddy

Tiler Kiwi posted:

just earn a billion on amc and dump it into the meme money, ez

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Pepe Silvia Browne
Jan 1, 2007
Probation
Can't post for 3 hours!
lol, and lmao, to all of you

even if we don't end up busting the pinata, at least we gave it a good wack this time

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