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IPFS News Link • General Opinion

What will unify the USA How about hatred of the corruptocrats?

• https://joannenova.com.au

The Gamestop monster battle between the ruling class and the peasants

The naked short sellers of Wall Street were never a healthy part of a free market — they were selling shares they didn't own. Their predatory behaviour could create the very destruction they profited from, ruining potentially productive assets in the process. In a bonfire of gambling greed, the Predators could effectively sell more shares than even existed  — betting they could drive the price lower and buy back for a bargain. But the little-guy-punters in the reddit/Wallstreetbets crowd got organized and called the bluff. They pushed the $4 stock to $400, busting the Smarty-pants players and reveling in it. There are estimates that hedge funds have already lost nearly $20 billion. One group of short-selling gurus have been burnt so badly they've abandoned publishing short selling research. The wake from this is just beginning.

The problem for the Democrats is that this wave is a form of Draining The Swamp. There is no identity politics involved. This kind of unity will bite them.

There is a kind of democracy to this response. People are voting with money.


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