Economy

Archy1221 said:
How do we deal with China?  Pre DJT wasn’t tenable for the long term 
Click to expand...




I’m not saying there aren’t problems we should try to stop, but they were overblown by Trump and things were far worse with his solution(s). He didn’t and still doesn’t understand what a trade deficit means. He thinks it’s a zero sum game and that’s ridiculously wrong, and made decisions off his misunderstanding of it. 

 
Looks like they shut down WSB sub reddit. Been watching this thing since it was at $20. It's a slippery slope, all it takes is one moderator with a buddy on wall st controlling a narrative on one stock to orchestrate a pump and dump. 

 
knapplc said:
I wonder if the Mods didn't lock it to clean it out. Apparently they're being brigaded by a bunch of new accounts posting BS. 

It's up now.
Click to expand...
Yep saw the same thing. It's no secret the power of pumping a stock on that sub. That's gonna be a common problem for them moving forward.

 
knapplc said:
Pro or con? 

Because as near as I can tell from reading about this, they aren't doing anything illegal.
Click to expand...


He is pro the retail traders. Not in 100% agreement with everything he said, but he is really sticking up for the small guys b/c he sees how this can end with insane regulations being put on me and you and whoever else with a couple grand to invest while they bail out hedge funds again and let them lever up risk they can't cover over and over again.

 
OK....can someone give me the reader's digest version of what's going on with GameStop...etc.?

Edit:  I listened to the above interview and from what I gathered from Chamath, I agree with him.  If I'm understanding things correctly, people on Reddit created a momentum for everyone to go out and buy Gamestock which drove up the price.  Am I correct?

If so, people managing large hedge funds can go f#&% themselves.  That sort of thing has been happening behind the scenes with them for a very long time and they have gotten amazingly rich from it, while retail investors don't have the same information.  Now, the tables are turned?  Sorry Wall Street.....boo hoo.

If Im wrong on what's going on, please correct me.

Thanks,

 
Last edited by a moderator:
People are nostalgic for Gamestop. Some people invest/tell other on investing subreddit about investing into Gamestop. Gamestop goes up a little bit. People find out Hedge Fund is highly investing in Gamestop tanking (short selling the stock). Internet takes over and all kinds of people start investing in Gamestop to get said Hedge Fund to lose money. No real central players causing major issues to a particular investment company and people are concerned what is next.

TLDR; real world Occupy Wall Street movement, but using financial institutions. 

 
Back
Top