GameStop Is Rage Against the Financial Machine

Post by briandarvell » Wed, Jan 27, 2021, 9:30 PM UTC

esoterica wrote: post #224

cwhiz wrote: post #68

I am loving every minute of this. The "professionals" gamble on the market all the time, front run, high frequency trade, and relentless tactics to get rich at the expense of the "retail" investors. Now they are upset that apps like Robinhood has provided unprecedented access to the markets. Their exclusive access to insane gambling nonsense is being torn down in real time. If Wall St can gamble and cause a global fi…

> Now they are upset that apps like Robinhood has provided unprecedented access to the markets. Their exclusive access to insane gambling nonsense is being torn down in real time. This is such hilariously clueless nonsense, the fact that it's expressed with such smug confidence and upvoted to the top of the thread is really emblematic of HN's complete ignorance of any topic outside of programming. When retail volume…

Post by [deleted] » Wed, Jan 27, 2021, 9:31 PM UTC

AdmiralAsshat wrote: post #20

> These points doubtless make me appear to be a complacent shill for the financial industry, talking down to the rubes. For the record, I’m still angry about the way workers were ripped off in Britain more than three decades ago, and about the way the little guy ended up bearing the brunt for the financial implosions of 2000 and 2008. But it looks horribly to me as though the same thing is going to happen again — and…

Post by 99_00 » Wed, Jan 27, 2021, 9:32 PM UTC

Post by QuesnayJr » Wed, Jan 27, 2021, 9:32 PM UTC

hannasanarion wrote: post #284

psim1 wrote: post #153

Earlier quoted context omitted.

Within the United States, you will have a hard time finding a company with a traditional pension system. Almost all use 401(k) or similar retirement systems. If it is a scam, it is a well-supported scam.

Companies switched to 401ks from pensions precisely because it's a scam. With a traditional pension, the company needs to guarantee the availablity of funds for retirees. With a 401k, each individual employee is required to gamble their life savings on the stock market. The result is that the company doesn't need to give a damn about long-term stability, they can focus on short-term gains for a carousel of owners tha…

Post by yowlingcat » Wed, Jan 27, 2021, 9:33 PM UTC

psim1 wrote: post #99

cwhiz wrote: post #68

I am loving every minute of this. The "professionals" gamble on the market all the time, front run, high frequency trade, and relentless tactics to get rich at the expense of the "retail" investors. Now they are upset that apps like Robinhood has provided unprecedented access to the markets. Their exclusive access to insane gambling nonsense is being torn down in real time. If Wall St can gamble and cause a global fi…

This kind of market folly also has an effect on long-term investments, e.g. retirement funds. What is there to love? I hate that unshowered basement-dwellers are coordinating to screw around with the market and potentially my retirement money. Get an honest job, guys.