I've not really paid that much attention to The GameStop thing, but it points out something I have been pointing out about how the current "market capitalism" works: Or Las Vegas on Wall Street.
The short form is that a group on reddit decided to invest on GameStop since the Hedge Funds were looking at it. Their purchases were aided by a broker called Robinhood Investing, which offers no fee trades. I have some idea of how hedge funds work and it sounds as if the reddit crowd were doing something which the "big players" have been doing for a while.
The big problem is that it was a group of small investors making money instead of the few, wealthy getting rich(er).
That goes against the rules. The powers that be are upset that people outside their circles are using their methods to make money.
It also highlights that the people in power are the ones who caused the problems with the economy of a while back. And they were the ones who got bailed out: not the little guy.
The current US political situation is also run by pretty much the usual suspects, which is one of the many reasons why I demexited in 2016. I see the power people circling their wagons to put down the revolution.
Unfortunately, the dam has broken.
The powers that be had their opportunity to make a clean transfer of power, but their bets were on the status quo. Unfortunately the best way to handle a revolution once one gets started is to try and control it. Try to keep the forces of change in control.
The problem is that is an option which is being applied FAR too late in the game. The time for real change was 2016, but the powers that be opted for the status quo.
Now it's going to be hard to blame any of the mess ups on anybody else than the people running the show.
