It’s clear who’s mad when news media is equating this to the capitol riot.
This reminds me of a quote I head on Boardwalk Empire.
First rule of politics, kiddo, never let the truth get in in the way of a good story.
Reddit's GameStop, AMC surge is the new Occupy movement
211–220 of 281 posts
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#212I wish they’d use their platform for something more constructive. Buy a majority share in a key link of the oil supply chain, then vote to cease operations. (Or similarly, do the same with coal plants, install co2 scrubbers, and scuttle all ongoing development projects).
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#213I'm not sure if the people comparing this WSB situation to occupy don't understand WSB or didn't understand occupy. Probably neither.
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#214Earlier quoted context omitted.
> I'm tired of fake Economics where the value of a company or the product is not made from the real value of it I still don't understand how Tesla is valued so high when they're still figuring out panel gaps.
I mean, there are a lot of good reasons to question Tesla's valuation, but the panel gaps is a weird one. Tesla has accomplished putting together the best mass market electric vehicle and selling it for a profit (with government incentives, albeit). There are a LOT of people who can figure out panel gaps. There are not a lot of people who can figure out how to make the economics and supply chain for electric cars wor…
> There are a LOT of people who can figure out panel gaps.
I work in the industry. There are less people to do this than you think. Talk to anyone at GM and there is a good chance they at some point in their career worked for Ford or Chrysler or Toyota or Diamler or Tada or Fiat etc. There is a lot of employee and information exchange that goes one. Tesla is very small and outside of MI/IL/OH and miss a bit of this. Plus I suspect that Tesla wants their own way of doing things and “the guy that handled fog lights” from Ford Trucks for 15 years only knows TeamCenter and CATIA and that might not fit well at Tesla (I have no idea really, just assuming Tesla doesn’t use the same systems as legacy mfgs).
I think the biggest issue most people overlook is that “it’s hard to build cars”. That there is a ridiculous amount of “boring” engineering in boring cars to make sure they wont be service costs until the warranty is up. Tesla came in building an electrical system that had seats and a steering wheel, so they are just getting around to doing those little mundane things like fundamentals of modern vehicle body assembly.
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#215Earlier quoted context omitted.
So does Toyota, which makes more things that more people want to buy, and yet is only valued at a quarter of Tesla.
Toyota makes fairly boring products of the last century. Musk is currently shooting rockets into space and deploying a network of satellites. The optics of this cannot be discounted.
[deleted]
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#216Earlier quoted context omitted.
What did happen around 1979 to have such a clear change?
It's not at all clear to me that 1979 is even the best reference year to pick. It looks to me like the trend lines broke in 1973-1975, but by the nature of this type of chart, careful choice in starting year can provide a chart that suggests a different break point. (It's probably better to think of these as "fuzzy" lines, which are 10% starting in each of 1946, 1947...1955.)
Yeah, 1973 is a much better reference year. Both because that's what the data actually says, and because there was a very clear cause: inflation. 1973 was the year of the oil crisis, the year that fixed exchange rates under Bretton Woods became floating exchange rates, and the year that the 1970s inflation happened.
Inflation doesn't affect all professions equally. Differentiated professions (those where there's only a limited supply of workers, and a limited number of positions) can bargain for higher wages, because there's nobody else that can take the job if you don't. The common people can't, because that's what it means to be common: you are easily replaceable. Hence when inflation hits, the upper classes capture the vast majority of the new money and new wealth created, while the lower classes get stuck with the same nominal wage, which purchases far less.
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#217This is what happens when we let the unwashed masses buy stocks for free. We saw it coming and we shouldn't have let this happen.
Yeah, the peasants shouldn't be able to play the same game as the nobility. How dare they use the same tricks that make the wealthy even wealthier?
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#218Shorting a stock 140% is the market manipulation and should be criminal. Anything a large group does after some hedge fund pulls that stunt is fair game.
Events like these make it clear why the vast majority of Wall Street practices are banned in Islam (including shorting). It's a terrible predatory practice that is not just gambling, but also creating artificial risk that does not correspond to the value being created from such transactions. This can easily collapse the entire market as we already saw in 2008 and many times before. The sooner we prohibit these terrib…
It's crazy to think that I was raised going to church every Sunday, and I had never even heard the word "usury", or even the idea that lending money at interest might be morally wrong, until I started reading gnostic christian texts. It's there, the ancient church used to talk about it, but we don't anymore.
It's weird to think that this entire piece of morality, which was taken seriously in the past, has just been erased from western culture.
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#219Shorting a stock 140% is the market manipulation and should be criminal. Anything a large group does after some hedge fund pulls that stunt is fair game.
Events like these make it clear why the vast majority of Wall Street practices are banned in Islam (including shorting). It's a terrible predatory practice that is not just gambling, but also creating artificial risk that does not correspond to the value being created from such transactions. This can easily collapse the entire market as we already saw in 2008 and many times before. The sooner we prohibit these terrib…
Ah, because countries with Islamic finance are renowned for the strength of their economies.
The Catholic Church prohibited usury across Europe until the invention of the contractum trinius, allowing the economic revolution that powered the Renaissance and the transition to modernity.
Re: Reddit's GameStop, AMC surge is the new Occupy movement
#220Earlier quoted context omitted.
Toyota makes fairly boring products of the last century. Musk is currently shooting rockets into space and deploying a network of satellites. The optics of this cannot be discounted.
Go to the third world and you'll see that reliability and longevity give Toyota a huge cachet that is basically unrivaled. That effect is amplified in countries that have import tariffs on automobiles, because the secondary market is large. Not everyone in the world buys cars to pleasure themselves. For most people, automobiles are a tool and their dependability is more important than their excitement factor. Also, a…
>Go to the third world and you'll see that reliability and longevity give Toyota a huge cachet that is basically unrivaled.
>That effect is amplified in countries that have import tariffs on automobiles, because the secondary market is large.
This is the exact same naive logic people use to justify Tesla's valuating.
On one hand you have yuppie fanboys bindly harping on about Tesla's magical engineering in the face of an Impala interior topped with a big tablet and panel gaps from the 80s.
On the other hand there is another yuppie fanboy harping about "muh hilix" despite the fact that Toyota has lied through its teeth about rust in North America for ~30yr, the Hilux/LC aren't outstandingly (in the literal sense) popular in Asia and people in Africa/ME will bolt a machine gun to anything that runs regardless of brand.
Camrys and Priuses are popular in the 3rd world because they are popular among moneyed people (i.e. the people who trade in 10yo cars instead of selling private party) in the first world and because of how the used car export market works (basically vaccuming up "nice" trade-ins that are too old for first world lenders to finance) they wind up popular in the 3rd world. People act like this is special about Toyota but it's not. The 3rd world is chock full of examples of other cars those same demographics buy. Chile practically runs on the 2nd-4th Gen Honda CRV and the GMT900 Chevy Suburban may as well be the official vehicle of Mexico (these are but two examples).
My point is both brands have the same moat of moneyed first world delusion surrounding their stock. Toyota just isn't a meme-stock popular with retail investors.