BBC burns, stock market turns, and why not all journalists go to heaven (31.1.21)
Well, another day and another round of poorly researched political opinions, but today we're trend hopping! As we tackle the fact that someone did the right thing to the BBC, and a further explanation on the whole WallStreetBets vs Millionaire companies thing, since it's trending even in the mainstream.
Firstly, the good news, the really good news, the fucking fantastic news! Staff at the BBC Scotland building in Glasgow have been forced to evacuate due to a fire. Now, I don't want this to be seen as me advocating for the military execution of mainstream media cucks, but I do think it's pretty damn inviting. This event occurred at 11:30 this morning, with smoke coming from the roof of the top of this metaphorical Mount Doom, fortunately nobody was hurt, but would it kill to maybe send a warning shot or something? A little punch in the nose to the people who help broadcast fear and disarray? Eh, maybe I'm asking for too much, they say if you want something done you've gotta do it yourself.
Now, for the beef and fucking tatties of this post, WSB vs Big Money, Warwick Davis vs Andre The Giant! This is the battle to settle who gets to profit off of a dying company, and who doesn't! Now, I've seen a lot of talk about this recently, however a majority of the mainstream population has not a fairy fucking clue what's going on, nor what the reason behind all of this is, so allow me to explain! (To whoever the fuck reads these, I see you ;) )
Okay, so firstly, what is a hedge fund and what is shorting a stock doing to a business? A hedge fund is a type of investment fund which trades in liquid assets, one of these practices is known as shorting, which involves an investor borrowing a stock from someone (for instance, a stock in GameStop) in hopes that the price of that stock will decline, allowing for the investor to buy the stock back for a lower price, earning a profit, which is done before handing the borrowed stock back to whoever the investor got it from. Essentially, short sellers are banking off of the death of a company, as it's stock price falls into the red, by selling stocks when they decline and betting on the death of the business, this practice is banking off of the decline of a business, as opposed to it's growth as buying low and selling high in the stock market would normally do.
The recent fiasco though occurred when users of the /biz/ board on 4Chan, as well as r/WallStreetBets, a Reddit community who essentially use pure autism and mommy's goodboy points to bet on stocks and use aggressive technique to waste or earn money had realized that large hedge funds were short selling stocks of GameStop, a gaming retail chain who've been in massive decline. These metaphorical Robin Hoods then decided that they were done with the system of millionaires acting as economic vultures and decided to take make them pay, by waging a betting war against the likes of Melvin Capital and other bigwigs by pooling their stimulus checks and whatever money they could afford to skyrocket the price of the stock, causing hedge funds to lose millions of dollars on trying to buy the inflated stocks. Funnily enough however, while this has united people on the right and left wings respectively, the only party unhappy with this version of civil disobedience are the politicians funded by the hedge funders who pay for legislation through 'gifts' to earn political favour, such as Elizabeth Warren, sucking up to big money as opposed to realizing the fact that this is a revolution of gargantuan proportions. I've heard a lot of comparisons to the Occupy Wall Street movement of 2011, and it is absolutely true, this is the tea party at work, the people who've had enough of hedge funds and people who do nothing for the world but shuffle numbers and bank off of others, and I couldn't be more proud. Since this we've seen trading apps such as RobinHood acting in complete contrast with their namesake, trying to preserve the money of the rich by restricting the ability of the poor to play the same game. This is something special that we're watching, and I can only hope that the populist revolution against big corporate and big government is just on the horizon, but we'll need to wait and see for that.
Until next time, Punks, I'll have to leave you with that! I'll be with you tomorrow, with more of the thrills and spills of modern life, but for now I must return to my dungeon to laugh at the fact that the only thing that Joe Biden has done is unite the world against his corporate slavemasters.
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[Hold, my bully boys, hold!] - Em.
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