#641
I guess “stock speculation” = “class war” is the symptom of that thing where the DSA mini-brains online began roundly declaring that all the Masonic secrets of the world were to be found in the sort of business news articles that mostly serve the purpose of investors trying to fool each other

Just stick with what Marx wrote: it’s at best a way to make a few bucks on the side at the enemy’s expense
#642

cars posted:

“stock speculation” = “class war”





Yeah it's so strange how all the bourgeois party politicians have nothing to lose by presenting market speculation as a popular uprising. lol

#643
That's the part of this that's so pathetic even I have a hard time finding it funny. Take your money, take your W and gloat over it, be a Winner, don't start crying in front of the camera about how this is a big boo hoo hoo win for all the boo hoo hoo little people out there. Because Stage 2 of that process is always someone richer than you in an established seat of power quote-replying with, "y-yeah! Yeah!" And then you're Owned.
#644
i hope this doesnt happen but the way the media blew this up out of proportions when put next to what it actually is i wonder if the top dogs in that reddit conspiracy will have legal repercussions under the guise of 'colluding to bring down a hedge fund' or something similar
#645
they'd certainly be better off in the long run if they assumed themselves to be criminals already and started acting like it. Once the shine wears off for the bourgeois chatterbox the real money will be coming for some heads, somewhere, if not them than the closest they can find when they look to either side of them
#646
nah i'm sure humiliating the rich and powerful in a ridiculous way that makes headline news and undermines the legitimacy of the professional finance industry will have no repercussions
#647

cars posted:

even Marx saw playing the market as a way of making money off the enemy



really, dude

#648
i would like to go on the record as condemning keven and everything he stands for, don't lump me in with cars bullshit
#649

karphead posted:

cars posted:

even Marx saw playing the market as a way of making money off the enemy



really, dude



well, he literally did! he brags about making a profit speculating at the LSE (five figgies, adjusting for inflation!), plus he basically lived off money supplied by engels' sizable investment portfolio

#650

88888 posted:

karphead posted:

cars posted:

even Marx saw playing the market as a way of making money off the enemy



really, dude

well, he literally did! he brags about making a profit speculating at the LSE (five figgies, adjusting for inflation!), plus he basically lived off money supplied by engels' sizable investment portfolio



i know he did, i just dont think quoting marx in this context, regarding the changes that have happened since he was alive, is cool

#651
its too flippant, even for me
#652
mb i'm wrong tho, mb if marx was born today, him an kev would be bro'ing out right now
#653
idk that my post implying even Marx wouldn't call this "Marxist" (in the way we'd use the word) carries the meaning you're assigning to it. the context for that Marx quote, and I am pretty much just quoting him, situates Marx's crack about making money from the enemy in how he'd noted and exploited an absurdity in the stock market of his day, in his case, companies getting founded, making IPOs on the London exchange, selling common stock to gullible or apathetic speculators and collapsing in the blink of an eye while their stock was still on its way up. to me that isn't bullshit, it's not only relevant but still funny and also an indication that Marx didn't see it as a form of militant class struggle or whatever because he wouldn't have missed an opportunity to call it that. If you feel otherwise you're going to have to be less cryptic about why for me to understand what you're talking about.
#654
wtf does this have to do with communism - is that less cryptic for you? why be an apologist for labour aristocracy, in any shape or form?
#655
b) fuck anyone that leaves the rhizzone
#656
It has to do with Marx saying that he saw stock speculation as a way of making money off the enemy because that's literally what he wrote in a letter. That doesn't have much to do with Communism as far as he was concerned, because he would have said that if he thought it did, and I agree with him there. I don't know why anyone would be an apologist for labor aristocracy but I assume you think that's what I'm doing which is going to lead me to ask you again to explain what you mean.
#657
shut up cars
#658

karphead posted:

b) fuck anyone that leaves the rhizzone



as you posted a little while ago, everyone dies. R.I.P.

#659
you assume a lot as well, my friend
#660
i'm never going to die
#661

karphead posted:

shut up cars



If you don't want to talk about it anymore I understand but you can probably understand why I asked you what any of that meant since it was an outburst that came out of nowhere and mentioned me specifically.

#662
i dont want to talk about it anymore
#663
staring placidly at the blood on my hands: RIP to those that died
#664

karphead posted:

i dont want to talk about it anymore



fair enough. All the best

#665

cars posted:

karphead posted:

i dont want to talk about it anymore

fair enough. All the best



you didn't let me finish, i don't want to talk about it anymore, i want to yell at you for being an idiot

#666
You can type some posts at me to that effect in any case but it'll be carrying Fail AIDS to a site that finds it funny and acceptable. Tbh though I don't get the impression I'm really the cause of whatever this is and I made a New Years resolution not to act like I am in that kind of situation.
#667
at this point i'm basically just posting to have the last word a-hole
#668
what are you nerds still arguing about in a video game thread on an internet forum
#669

招瑤 posted:

what are you nerds still arguing about in a video game forum thread on the internet



*last year's video game forum thread

#670
Me too
#671
i'm convinced... let's effect a peaceful transfer of power to the already existing 2021 video game thread and its handsome OP.
#672
Fail AIDS: The Game (spoiler: its just posting here. thats the game)
#673
congratulations to all our past winners
#674
check out what tony norfield the marxist leninist banker and street professor of stubborn facts had to say:

The GameStop issue brings out several things about modern capitalism.
1. Selling securities, in some manner, is a common feature of all financial markets. What has come to the fore with GameStop is an aspect of selling that involves securities which are not actually owned. But this operation is done by many financial institutions, not just hedge funds and those put under the usual heading of ‘speculators’. When you think about it, how in any sense is buying a security somehow good, but selling one is meant to be bad? Both operations involve betting on the future of financial market prices. You can also bet on a rise in prices without owning the security, for example via the futures or options market. Is that bad too?
2. Financial operations – including both buying and selling, short or not – are a key part of the mechanism of modern day capitalism. You cannot consistently argue against some aspects of this without questioning capitalist markets as a whole, and at least asking whether this is a sensible way to run the world!
3. On the GameStop events:
That you have regulators, brokers and government officials (in the US, at least) railing against the market price volatility and turmoil following the GameStop events is a bit rich coming from people who have consistently defended such markets. That ‘free market’ has seen persistent efforts by governments to prop up equity prices and keep money market interest rates and bond yields low, zero or negative. Such policy moves reflect a serious and deep crisis that has led to numerous zombie companies that would have failed without the state aid the economy has received. GameStop was in the failure queue, and a number of hedge funds sold its shares short, expecting to be able to make money on a casualty that government aid would not rescue.
A key thing that undid these hedge funds is that information on extreme short positions is more easy to get these days. They did not guess that what started out as a good speculative idea could result in big losses. They had the so-called ‘fundamentals’ on their side, but ignored another, financial market fundamental: extreme exposure leads to extreme vulnerability. This is ironic, since many aggressive hedge fund bets are made to take advantage of such situations. Reports suggest that a very large portion of the company’s shares had been sold short by various funds, which meant that at some point they would have to buy them back. The question was at what price, and the answer came when many small, mainly US-based, investors started to buy GameStop. Prices jumped, then soared further as short positions were cut, with many billions of dollars in losses for these hedge funds.
This has been touted as some kind of victory for the ‘small guy’ over Wall Street. It does reflect an instance of prices going against some market speculators. But no doubt other hedge funds would also have joined in the buying to take advantage of their rivals. The outcome so far has been one big group of small speculators winning against a small group of big speculators. Amusing, yes, but not much use as a morality tale of good versus bad.
It is still less so when you consider that amateur day-traders rarely sustain any monetary benefits from dealing in financial markets. Or that financial market trading is elevated to a favourite hobby, or a desperate way to try and get some money. Or, more importantly, when you notice that this event has nothing to teach about the more serious stranglehold that the major powers have over the world economy, one that influences everything from international trade and finance to the distribution of vaccines against disease.
Finally, the recent, general drop in world equity markets is not due to hedge fund losses on GameStop. Big losses do often force a sale of other unrelated assets, BUT the GameStop debacle was not that big and there are plenty of other things for financial markets to worry about!

#675
I think it's good for Keven that they individually made billions of dollars at Gamestop and I think it's sad and pathetic that Keven had the ambition of making billions of dollars
#676
*pulls trigger*