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> It's tearing society apart and now it looks to damage our economy too. I don’t see how in this case. If anything it’s revealing the casino that is a huge per
by taurath 6y ago
> It's tearing society apart and now it looks to damage our economy too.
I don’t see how in this case. If anything it’s revealing the casino that is a huge percentage of our economy as what it is. There are trillions of dollars being bet every day, and frankly this is taking money from hedge funds who “always win no matter what”. Robin Hood indeed.
90% of the stock market is owned by 1% of the population. We have the highest wealth gap in the countries history except maybe the 1920s. Those who benefit from the system control the system - I’ll personally sit here and cheer for the people who managed to get a piece.
And @ your point - you want a rational system where prices are set per the real value of the company, or its future value. This has not been the case since at minimum 1980. The market is currently a casino that happens to capitalize companies, and with 0% interest rates it’s a economy wide Ponzi scheme because everyone with money has to buy high risk stocks to get a real return. WSB or not I do not think a depression due to a financial or currency collapse is almost likely at this point.