4 ms·

I have seen very little evidence of people investing money in the stock market that is not budgeted as “gambling” (ie disposable income). WSB embraces the idea

I have seen very little evidence of people investing money in the stock market that is not budgeted as “gambling” (ie disposable income). WSB embraces the idea that memetrading is gambling. This is not a surprise to anyone but a few outsiders.

afavour 6y ago
But it kind of goes against the story that this is “the people” against Wall Street. “The people”, by and large, do not have a ton of spare gambling money sitting around. “Upper middle class folks with spare disposable income vs Wall Street” isn’t quite as persuasive a hook, though.
- read_if_gay_ 6y ago
  But one could argue the upper middle class's interests are aligned with the lower class. So it's “upper middle class folks with spare disposable income on behalf of everyone else vs Wall Street”, which is such a mouthful that "the people vs Wall St" is probably close enough.
- willis936 6y ago
  Certainly. It takes money to make money. That rule hasn’t changed yet. Many of societies big issues are intertwined so hopefully addressing one partially addresses many. The golden rule is particularly nasty: those with the gold make the rules.
- deleted 6y ago
  [deleted]
TameAntelope 6y ago
Then you have not been paying attention to WSB for very long. It's full of degenerate gamblers, so many loss porn posts come from people saying, "How will I pay my rent this month?" Most of the time, WSB is a community to commiserate about losses and lie about gains.
- asdff 6y ago
  I feel like a lot of that sort of rhetoric on there is highly highly sarcastic. Half the time “how will I pay the rent?” Is followed by something along the lines of “my wifes boyfriend will never forgive me” the very next sentence.
- cocoa19 6y ago
  "How will I pay my rent this month?" That's something I'd say to be funny, especially on reddit.
  - TameAntelope 6y ago
    I am with you historically, but people seem to be taking this way more seriously than previous similar shenanigans, so I'm re-evaluating my prior dismissals.
snowwrestler 6y ago
This is not just a WSB thing anymore, it was front-page news on every news service yesterday.
serjester 6y ago
One of the most popular posts on WSB right now is somebody bragging they're putting their entire life savings in GameStop. I personally know people buying Gamestop that shouldn't be. It's pretty scary.
calyth2018 6y ago
You must be missing a rash of people outside of the wsb sphere trying to create accounts with brokerages, have no idea what investment is, and trying to buy GME or others. Those are the ones who would be left holding the bag when the music stops.

afavour 6y ago

But it kind of goes against the story that this is “the people” against Wall Street. “The people”, by and large, do not have a ton of spare gambling money sitting around. “Upper middle class folks with spare disposable income vs Wall Street” isn’t quite as persuasive a hook, though.

read_if_gay_ 6y ago
But one could argue the upper middle class's interests are aligned with the lower class. So it's “upper middle class folks with spare disposable income on behalf of everyone else vs Wall Street”, which is such a mouthful that "the people vs Wall St" is probably close enough.
willis936 6y ago
Certainly. It takes money to make money. That rule hasn’t changed yet. Many of societies big issues are intertwined so hopefully addressing one partially addresses many. The golden rule is particularly nasty: those with the gold make the rules.
deleted 6y ago
[deleted]

TameAntelope 6y ago

Then you have not been paying attention to WSB for very long. It's full of degenerate gamblers, so many loss porn posts come from people saying, "How will I pay my rent this month?" Most of the time, WSB is a community to commiserate about losses and lie about gains.

asdff 6y ago
I feel like a lot of that sort of rhetoric on there is highly highly sarcastic. Half the time “how will I pay the rent?” Is followed by something along the lines of “my wifes boyfriend will never forgive me” the very next sentence.
cocoa19 6y ago
"How will I pay my rent this month?" That's something I'd say to be funny, especially on reddit.
- TameAntelope 6y ago
  I am with you historically, but people seem to be taking this way more seriously than previous similar shenanigans, so I'm re-evaluating my prior dismissals.

snowwrestler 6y ago

This is not just a WSB thing anymore, it was front-page news on every news service yesterday.

serjester 6y ago

One of the most popular posts on WSB right now is somebody bragging they're putting their entire life savings in GameStop. I personally know people buying Gamestop that shouldn't be. It's pretty scary.

calyth2018 6y ago

You must be missing a rash of people outside of the wsb sphere trying to create accounts with brokerages, have no idea what investment is, and trying to buy GME or others. Those are the ones who would be left holding the bag when the music stops.