3 ms·

>> This lawsuit will go nowhere... increasingly desperate if they're willing to brazenly manipulate the market like this. IDK... I'm probably missing somethin

>> This lawsuit will go nowhere... increasingly desperate if they're willing to brazenly manipulate the market like this. IDK... I'm probably missing something about norms or precedents, but allowing selling and not buying is not just brazen. It's straightforward enough that the average person is incensed and understands specifically why. This isn't systemic risk and turtle stack complexity. This is probably my info-bubble, but nihilistic rage of WSB seems to be spilling out into the world. The social media (dischord/reddit) aspects, hedge funds, markets/brokers... it all adds up to symbolic whole that has ordinary people cheering on a bunch of maniacal gamblers. The SEC is looking more like a belligerent than a regulator. Remember that the SEC is, first and foremost, a bunch of cowards.

alvah 6y ago
“nihilistic rage of WSB seems to be spilling out into the world” I think it’s the other way round - there are millions of people who feel disenfranchised, cast away, left behind. Their rage has been manifesting in events such as Brexit & the election of Trump. Currently the most visible expression is the GME saga, but the undercurrent of rage is the common factor & I expect it will be more common & more obvious over the next few years, as the elites try to pretend it’s back to business as usual.
- rootusrootus 6y ago
  > manifesting in events such as Brexit & the election of Trump I want to agree with you, but I have to say that some of the most rabid Trump supporters I know are fellow software engineers earning at least $150K a year, and sometimes much more. What do they feel disenfranchised about, cast away, or left behind? I agree that it's part of the explanation, but it seems to me like there's far more than that going on.
  - alvah 6y ago
    I don't think all Trump supporters (or all Brexit voters) feel disenfranchised. My point is there are a large number of people who do feel discarded by the "system", and when given the opportunity to metaphorically throw a brick through the window of the establishment (or even the appearance of such opportunity), they will do so.
  - Chris2048 6y ago
    You can empathise with the disenfranchised. Not all BLM supporters are black.
renewiltord 6y ago
Friends of mine with $1k in are talking about how brazen this is. It's a funny cultural phenomenon. $1k is insignificant. They have $500k+ portfolios!
- esyir 6y ago
  It probably isn't about the quantity. Its about the shamelessness, or perception thereof

alvah 6y ago

“nihilistic rage of WSB seems to be spilling out into the world” I think it’s the other way round - there are millions of people who feel disenfranchised, cast away, left behind. Their rage has been manifesting in events such as Brexit & the election of Trump. Currently the most visible expression is the GME saga, but the undercurrent of rage is the common factor & I expect it will be more common & more obvious over the next few years, as the elites try to pretend it’s back to business as usual.

rootusrootus 6y ago
> manifesting in events such as Brexit & the election of Trump I want to agree with you, but I have to say that some of the most rabid Trump supporters I know are fellow software engineers earning at least $150K a year, and sometimes much more. What do they feel disenfranchised about, cast away, or left behind? I agree that it's part of the explanation, but it seems to me like there's far more than that going on.
- alvah 6y ago
  I don't think all Trump supporters (or all Brexit voters) feel disenfranchised. My point is there are a large number of people who do feel discarded by the "system", and when given the opportunity to metaphorically throw a brick through the window of the establishment (or even the appearance of such opportunity), they will do so.
- Chris2048 6y ago
  You can empathise with the disenfranchised. Not all BLM supporters are black.

renewiltord 6y ago

Friends of mine with $1k in are talking about how brazen this is. It's a funny cultural phenomenon. $1k is insignificant. They have $500k+ portfolios!

esyir 6y ago
It probably isn't about the quantity. Its about the shamelessness, or perception thereof