How Capitalists React to 'The Little Guy Beating Them by Their Own Rules'

This is one of the most interesting developments in a year of 'interesting developments'. I highly recommend you watch the video even if videos are not usually your thing, or the subject matter usually does not interest you.

This is a human interest story above all else. There's a good chance you'll be thinking about this one for a long time.

As usual, there will be attempts to spin the story in a misleading direction. So far, that direction has been down the rabbit hole that the 'little guys' in the story were doing something illegal. There seems to be considerable evidence that take on it is propaganda, but that's something for you to decide. Hopefully, you won't decide too quickly, based on insufficient evidence. This story is one that's well worth digging into.

Be careful to weigh the factual evidence according to your own understanding, rather than carelessly be led away from your own best self-interests.

Some people might find this a more interesting introduction to the news...

Another humorous introduction to the topic...

By the way, the story here is part of a much larger story that explains why America now has a two tier economy. The top 10% tier does well, even during periods that are disasters for the bottom 90%.

In America, it's routine for the rich to get richer while the middle class is losing its homes, and the poor are being evicted onto the streets.

Sunstone said:

This is one of the most interesting developments in a year of 'interesting developments'. I highly recommend you watch the video even if videos are not usually your thing, or the subject matter usually does not interest you.

This is a human interest story above all else. There's a good chance you'll be thinking about this one for a long time.

As usual, there will be attempts to spin the story in a misleading direction. So far, that direction has been down the rabbit hole that the 'little guys' in the story were doing something illegal. There seems to be considerable evidence that take on it is propaganda, but that's something for you to decide. Hopefully, you won't decide too quickly, based on insufficient evidence. This story is one that's well worth digging into.

Be careful to weigh the factual evidence according to your own understanding, rather than carelessly be led away from your own best self-interests.

Click to expand...

Do unto others what they have done onto you.
This is revenge porn. Not that I like or recommend revenge but sometimes it is necessary to stop people from behaving in unethical ways.

Its a beautiful story what the "little guys" did. They beat the rich at their own game It infuriated them quite severely which led to companies like Robinhood demolish their reputation overnight by banning the sale of gamestop stocks.

Heyo said:

Do unto others what they have done onto you.
This is revenge porn. Not that I like or recommend revenge but sometimes it is necessary to stop people from behaving in unethical ways.

Click to expand...

"Revenge Porn"? You can see it that way, if you prefer. If I had to characterize it, I would consider calling it a 'peasant's revolt'. Most peasant's revolts failed during the 1000 year period when they were most frequent. This revolt will most likely fail too because the capitalists have already signaled their intentions to get the Government to rewrite the rules so only they can do what the peasants have been doing on the market, and have been doing legally up until now.

Sunstone said:

This is one of the most interesting developments in a year of 'interesting developments'. I highly recommend you watch the video even if videos are not usually your thing, or the subject matter usually does not interest you.

This is a human interest story above all else. There's a good chance you'll be thinking about this one for a long time.

As usual, there will be attempts to spin the story in a misleading direction. So far, that direction has been down the rabbit hole that the 'little guys' in the story were doing something illegal. There seems to be considerable evidence that take on it is propaganda, but that's something for you to decide. Hopefully, you won't decide too quickly, based on insufficient evidence. This story is one that's well worth digging into.

Be careful to weigh the factual evidence according to your own understanding, rather than carelessly be led away from your own best self-interests.

Click to expand...

One of the things I have hated about the stock exchange structure - apart from the short-selling nonsense (and its gambling nature), is the volatility, and getting ever faster over stability (high-frequency trading), or anything which might produce the likes of the 2008 debacle. But I would think the wealthy will have a comeback to this impudent lot - perhaps by buying them out in some manner - after all, nothing must interfere with the wealthy grabbing the wealth before it gets to us - as mentioned in the video - and they have the wealth to find such solutions. "Stop the Steal."

If the people realised the trends in graphs - how the wealthy rarely take a fall whatever the circumstances (apart from their own stupid mistakes) - then they might change their political positions. Hey, these guys aren't interested in MY welfare at ALL! Well, why don't we shackle these imposters! But of course, the endless economic growth beckons - jobs for you all!

Disclaimer: Coming from my limited understanding of economics.

Sunstone said:

This revolt will most likely fail too because the capitalists have already signaled their intentions to get the Government to rewrite the rules so only they can do what the peasants have been doing on the market, and have been doing legally up until now.

Click to expand...

Of course they want that. After all, they are the elite, the aristocracy (or, better, plutocracy) and they don't play by the same rules as everybody else. But the Trump era is over. Not that the Dems wouldn't grant them their privileges but they have to play shy for not to get backlash from their constituency. And you also don't want to totally ban the "dumb money" from the market. There have to be people to fleece.

Sunstone said:

By the way, the story here is part of a much larger story that explains why America now has a two tier economy. The top 10% tier does well, even during periods that are disasters for the bottom 90%.

In America, it's routine for the rich to get richer while the middle class is losing its homes, and the poor are being evicted onto the streets.

Click to expand...

"Capitalists"? Does that include their running dogs, too?

"Bottom" 90 percent? Like there is this sharp
break, a big gap, then a pile of like souls
at the "bottom"?

"NOW" has?
When was it not so, when did this break happen?

Audie said:

"Capitalists"? Does that include their running dogs, too?

Click to expand...

Do I look like a Maoist these days? Or even a communist?
Do you know enough about my views to know they do
not conform more than superficially to Marx's notion
of class struggle?

"Bottom" 90 percent? Like there is this sharp
break, a big gap, then a pile of like souls
at the "bottom"?

Click to expand...

No, of course not. If I have given you warrant to believe
I'm stupid enough to think that, it comes as a surprise to
me. Of course, my ex-wives would have no trouble
believing it. At least one of them would likely point to
my trying to discuss these issues on RF as alone sufficient
evidence to conclude I'm a string of blinking Christmas tree
lights compared to her. Most of the time I would agree
with her.

"NOW" has?
When was it not so, when did this break happen?

Click to expand...

The two tier American economy started appearing in the
economic literature some years ago. It's pretty close to
consensus opinion these days. I haven't even heard of
much push back against it by the usual handful of
opinion-for-hire whores. But I don't read everything.

Some Wall Streeters did quite well....not at all beaten.
WSJ News Exclusive | This Hedge Fund Made $700 Million on GameStop

I'm not surprised that some big investors will profit from
mischief in the market by others. It can be a game of
having better information & analysis than the competition.
The big equity firms hire PhDs in math, computer science,
& physics right out of school for @$500k/yr to develop
algorithms dealing with market behavior.
(Daughter recruits such "quants" for one NYC firm.)

Audie said:

"Capitalists"? Does that include their running dogs, too?

"Bottom" 90 percent? Like there is this sharp
break, a big gap, then a pile of like souls
at the "bottom"?

"NOW" has?
When was it not so, when did this break happen?

Click to expand...

Infographic: The Top 10 Percent Own 70 Percent of U.S. Wealth
Here you go.

Sunstone said:

Do I look like a Maoist these days? Or even a communist?
Do you know enough about my views to know they do
not conform more than superficially to Marx's notion
of class struggle?



No, of course not. If I have given you warrant to believe
I'm stupid enough to think that, it comes as a surprise to
me. Of course, my ex-wives would have no trouble
believing it. At least one of them would likely point to
my trying to discuss these issues on RF as alone sufficient
evidence to conclude I'm a string of blinking Christmas tree
lights compared to her. Most of the time I would agree
with her.



The two tier American economy started appearing in the
economic literature some years ago. It's pretty close to
consensus opinion these days. I haven't even heard of
much push back against it by the usual handful of
opinion-for-hire whores. But I don't read everything.

Click to expand...

Say what you actually mean then.
I'm a capitalist
You said "capitalists".

Early days in USA there were indentured servsntd and some with yet lower status.
More sharply stratified society than now,
where peoples income is at every possible level.

Up till ww2 most Americans lived on farms.
None were rich or doing much better than
hanging on.

I don't see your point.

Audie said:

Say what you actually mean then.
I'm a capitalist
You said "capitalists".

Early days in USA there were indentured servsntd and some with yet lower status.
More sharply stratified society than now,
where peoples income is at every possible level.

Up till ww2 most Americans lived on farms.
None were rich or doing much better than
hanging on.

I don't see your point.

Click to expand...

So you own your own business or have enough wealth to own stocks and live off them?

Audie said:

Say what you actually mean then.
I'm a capitalist
You said "capitalists".

Click to expand...

It was not my intention to contribute to the ugly sweeping
generalizations about nearly every group in American society
today, including capitalists. But I especially regret having
offered you in particular any offense or concern. It's hard to
remember post to post all the qualifications that are useful
to help people understand what I mean. I can only include
a fraction of them on any one post. I also know it's futile to
ask anyone to take care when reading my posts. I use
words more precisely than most people but it's easy to
overlook that. I haven't figured out yet what, if anything,
can be done about it.

Early days in USA there were indentured servants and some with yet lower status.
More sharply stratified society than now,
where peoples income is at every possible level.

Up till ww2 most Americans lived on farms.
None were rich or doing much better than
hanging on.

I don't see your point.

Click to expand...

I can see we're talking about two different subjects, both
of which fall under the category of 'capitalism'. To me, the
area of overlap you seem to be pointing to is not relevant
here.

Honest question, Audie. Would you be interested in
me trying to explain where I'm coming from this time? I'm
ok with whatever you decide, but I'm about to log off.
Beautiful morning here, and I promised myself a long
walk hours ago.

Just curious... I written blog posts for over a decade about
the rise of capitalism as "the most successful peasant
revolt in world history". It's more than a mere joke. The
upper tier of peasants were about half of the earliest
capitalists. What do you think of that idea? Sound plausible?

For two or three years, some article in Wiki linked to one
of my posts.

Sunstone said:

This is one of the most interesting developments in a year of 'interesting developments'. I highly recommend you watch the video even if videos are not usually your thing, or the subject matter usually does not interest you.

Click to expand...

I watched some of it. I also watched Legaleagle's take on it. I have nothing of value to add, but here is my opinion just for fun: The hedgefunds should be squeezed when they start heavily shorting businesses. Its traditional to allow brokers to offer short sales, but it should be dangerous and a risk for buyers. It should not be a guaranteed thing that can be used to stamp out weakened companies, and I think that social media marks the end (or should mark the end) of safe short selling.

Sunstone said:

It was not my intention to contribute to the ugly sweeping
generalizations about nearly every group in American society
today, including capitalists. But I especially regret having
offered you in particular any offense or concern. It's hard to
remember post to post all the qualifications that are useful
to help people understand what I mean. I can only include
a fraction of them on any one post. I also know it's futile to
ask anyone to take care when reading my posts. I use
words more precisely than most people but it's easy to
overlook that. I haven't figured out yet what, if anything,
can be done about it.



I can see we're talking about two different subjects, both
of which fall under the category of 'capitalism'. To me, the
area of overlap you seem to be pointing to is not relevant
here.

Honest question, Audie. Would you be interested in
me trying to explain where I'm coming from this time? I'm
ok with whatever you decide, but I'm about to log off.
Beautiful morning here, and I promised myself a long
walk hours ago.

Just curious... I written blog posts for over a decade about
the rise of capitalism as "the most successful peasant
revolt in world history". It's more than a mere joke. The
upper tier of peasants were about half of the earliest
capitalists. What do you think of that idea? Sound plausible?

For two or three years, some article in Wiki linked to one
of my posts.

Click to expand...

Of course I'd like to know. You, among a handful, are quite capable of making sense.

Audie said:

Of course I'd like to know. You, among a handful, are quite capable of making sense.

Click to expand...

My privilege, Audie, although I'm concerned about the likelihood
that your regard for my competence is an early warning
sign of a tropical fever. When was the last time your
neighborhood had an aerial spraying for mosquitos?

I'm off to my walk.

Audie said:

"Capitalists"? Does that include their running dogs, too?

"Bottom" 90 percent? Like there is this sharp
break, a big gap, then a pile of like souls
at the "bottom"?

"NOW" has?
When was it not so, when did this break happen?

Click to expand...

It's interesting that some are offended by the notion that the wealthiest 10% are wealthier than the rest, but not by the fact that many poor people are currently facing evictions and the prospect of living on the streets because they can't afford the apartments they live in.