Galt's Gulch
10

WallStreetBets Proves the System is Rigged

Posted by markjr 3 years, 2 months ago to Culture
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You don’t have to be reminded of this anymore, because WallStreetBets has forced it out into the open.

The system is structured so that Joe Public loses, and the Establishment always wins, even if they have to change the rules or endlessly move the goalposts to do it.
SOURCE URL: https://bombthrower.com/articles/wallstreetbets-proves-the-system-is-rigged/

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  • Posted by Turfprint 3 years, 2 months ago
    When a stock price based on speculation not value it's good to get a lot of buyers then dump.
    Sky Masterson:
    "One of these days in your travels, a guy is going to show you a brand-new deck of cards on which the seal is not yet broken. Then this guy is going to offer to bet you that he can make the jack of spades jump out of this brand-new deck of cards and squirt cider in your ear. But, son, do not accept this bet, because as sure as you stand there, you're going to wind up with an ear full of cider."
    Now, son today you can bet that guy will have a mouse.
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  • Posted by $ splumb 3 years, 2 months ago
    I posted this comment on a related thread.
    In the 1960s, the actor Richard Ney left acting and became an investment counselor.
    This is what he had to say about Wall Street:

    "Hidden behind the facade of pompous jargon and noble affections, there is more sheer larceny per square foot on the floor of the New York Stock Exchange than any place else in the world."
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  • Posted by $ blarman 3 years, 2 months ago
    The Stock Market has been a sham for a long time. IMHO, it started when stocks were allowed to no longer offer dividends. Shortly after that we started seeing all these derivative and index funds. This isn't investing, its gambling. The three-legged stool of investing (stocks, bonds, real estate) has long been a one-legged stool teetering on the edge of collapse.

    Also, for your reading terror, I highly recommend The Creature from Jeckyll Island. It was recommended by freedomforall and I second this recommendation.
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  • Posted by term2 3 years, 2 months ago
    hello..... wall street people ALWAYS look out for themselves. Its a jungle out there, and the wild animals are looking for food.
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  • Posted by mshupe 3 years, 2 months ago
    Didn't the hedge funds take the huge losses? Didn't Robinhood stop trading it because of a liquidity crisis? Are you saying that very small day traders organized themselves on Reddit to coordinate an altruistic financial strike?
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    • Posted by mccannon01 3 years, 2 months ago
      Not altruistic at all. It was a cadre of greedy little guys that found a way to loot the big greedy moo cow for themselves. What they found was the big moo cow only allows milking by a select few, which doesn't include them. They are supposed to be the feed the moo cow consumes.
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