Capitalism, lol. Amirite?! What a gas. What a perfectly rational, wonderfully benign, and scandal-free economic system we’ve let a few people impose on the rest of us, eh? Such a laugh. And while sometimes you might look at capitalism and think: Jesus Christ, how fu**ing boring can you get while being so evil? But don’t sell it short, sport, your buddy capitalism is good for a laugh too! Remember that time in 2008 when a banker was caught manipulating the inter-bank lending rate, Libor—tiny changes in which cause billions of dollars to slosh around from place to place—as a favour to a mate in exchange for some day-old sushi. Hilarious! Capitalism is the slapstick general of an invading army that will pass through your town, razing it to the ground in the process while he observes from a whoopee cushioned seat in his tank decorated with memes. Anyway on that note here’s Twitter reacting to the news that a section of Reddit is planning to destroy a hedge fund by buying up stock in a company that the hedge fund bet on going under.
A few folks are correctly pointing out that this may take until Friday to go fully nuclear (that’s when a lot of contracts come due). Either way, tomorrow morning’s opening bell will be pure chaos.— Ryan K. Rigney (@RKRigney) January 27, 2021
oh no the wrong people are manipulating the stock market— Brandy Jensen (@BrandyLJensen) January 26, 2021
/r/WallStreetBets about to blowup another hedge fund, this one valued at $13.1 BILLION before the Reddit trolls decided to all buy GameStop lol pic.twitter.com/aONX0SwEwb— William LeGate (@williamlegate) January 26, 2021
If GameStop goes up another 17%, this hedge fund will instantly collapse. $13.1 billion gone. Poof.— William LeGate (@williamlegate) January 26, 2021
Reddit is also in the process of meme-ifying AMC stock to revive it from the dead… this is like the Occupy Wall Street movement but on their own turf & with real financial consequences. Incredible. pic.twitter.com/r6WBhLebXo— William LeGate (@williamlegate) January 26, 2021
/r/WallStreetBets has written an open letter to powers that be @CNBC - they threaten to continue to bankrupt every last hedge-fund since Wall Street has screwed over the average American & always gets bailed out. They actually make great points, read: pic.twitter.com/MuVEfKoCOR— William LeGate (@williamlegate) January 26, 2021
what he means is "get out of my casino" https://t.co/ECgn94aW2Q— Sen. Lemon Gogurt (R - MS) (@Ugarles) January 26, 2021
after purchasing 2 shares of Gamestop stock as a joke pic.twitter.com/S8Kx8ddVBr— Rob (@robrousseau) January 27, 2021
I would not jump on this bandwagon, as it categorically turns the stocks into a temporary bubble. But if they hang on to the stocks and drive up their value long enough for the hedge fund deadlines to run out, they are basically committing financial murder against these leeches— Brother Q. (ɔpɛ asem) (@andraydomise) January 26, 2021
there is no difference here between some media analyst on CNBC telling you a stock is "hot" and a dumb redditor using a rocket ship emoji https://t.co/x7uFS45TTS— Garbage Ape 🦧 (@GarbageApe) January 27, 2021
We let a half-million people die because a mass disease shutdown would have crashed the all-important stock-market, which is so stupid that it’s currently being gamified by Reddit users to blow up a hedge fund worth billions. Anyway probably nothing bad about our economic system— Jerry Iannelli (@jerryiannelli) January 27, 2021
if you read about the creation of mortgage backed securities, the guys who invented them were big loud middle class guys who did epic food challenges and pranked each other. Redditors have always run the financial sector— Mr Killed Instantly (@ByYourLogic) January 26, 2021
bunch of dudes on reddit joined together to raise gamestop's stock price 150% just cuz and u want me to believe the stock market isnt just straight men's astrology— first-mate prance (@bocxtop) January 26, 2021
To anyone that doesn’t understand what’s happening right now with Reddit and wall street: it’s okay, the stock market is literally useless and reddit is proving it right now.— 🌽🌽Erica, the white trash socialist🌽🌽™️ (@herosnvrdie69) January 26, 2021
seeing a lot of people laughing about the game stop reddit stock thing and yeah i understand why you might think that's funny that a hedge fund goes under but what if it was YOUR hedge fund that they were doing it to? not so funny then huh?— jordan (@JordanUhl) January 26, 2021
Karl Marx failed to account for GameStop stock.— Dahlia (@saintknives) January 27, 2021
A bunch of bored Reddit and 4chan nerds rocketed Gamestop's stock through the roof for laughs but tell me again about how the stock market is a rational and fundamentals-based thing.— Max Burns (@themaxburns) January 27, 2021
People looking for an explainer of the Gamestop thing:— Ben Collins (@oneunderscore__) January 27, 2021
The Gamestop thing is like Bitcoin, in that they are both just gambling.
At least the Gamestop people aren't pretending they're saving the world when they're recruiting more people on Reddit to get addicted to gambling.
you write on a piece of driftwood "this is the most valuable company in the world" and if enough already rich dipshits believe it, it becomes true— Colin Spacetwinks (@spacetwinks) January 27, 2021
I have a hunch that the whole reddit thing is just cover for some Wall Street hedgefund guy trying to ratfuck a bigger hedgefund guy. I keep thinking back to how Michael Burry (guy who predicted the subprime mortgage crisis) owned 1.7 million shares of GameStop last September— The New Fill Werrell (@TheEpicDept) January 27, 2021
Just to let y’all know, people on Reddit are buying lots of shares in GameStop to raise the price of the stock. Doing this will make billionaires who bet GameStop stock would fall lose a ton of money and it’s the most beautiful thing I’ve ever seen. pic.twitter.com/IjhSfQeuv1— randall (@_ZevLoveX) January 26, 2021
neoclassical economics dictates that losers on reddit dot com are simply rewarding 'gamestop' for attaining greater efficiency and innovating. why do you hate this perfect system of allocating resources? https://t.co/yTwRoQKD5F— Ghostface Kafka (36 Chambers) (@TheKafkaDude) January 27, 2021
The speed in which Congress will probably pass legislation to prevent something like this GameStop thing from happening again will show you the difference between “immediate” for Wall St and “immediate” for people waiting on those $2k checks— Justin Jackson (@J_ManPrime21) January 27, 2021
End capitalism now.
Header Image Source: Paramount Pictures