January 30, 2021 - News Post
I’m certain this comic will age well.
If haven’t seen, there’s been a little bit of a hubbub around GameStop in the stock market.
Remember that chaos on the 6th?!? It seems like a lifetime ago. I’ve spent the entire week following this GameStop craziness. I’ve learned sooooooo much this week about how stocks work. There’s a lot of complexities here, and you can find the details on your own. I am not qualified nor informed enough to summarize this in non-comic form.
One thing seems for certain this week: Some very powerful entities in this country are doing everything they can to ensure everyone is afraid to buy GameStop stocks. What a refreshing change from the usual political chaos. It’s even managed to unite people from both sides of the political spectrum who have noticed something screwy going on. The stocks will go down some more... the question is, how high will they go up?
Whether our government decides to crack down on the individual investors or the billionaire hedge funds remains to be seen. This country has a long history of siding with the billionaires, as do the regulatory agencies. When violating laws results in a small fine, those fines become just another a cost of doing business.
If current trends are any indication, the coming days will involve a lot of heavy-handed moves made against the retail investors. Maybe the hedge funds will crash the stock market. Maybe reddit will get the blame. Maybe the subreddit will be shut down. The hedge funds will send their representatives to congress for a slap on the wrist. Some insignificant fines will be levied. And the crazy loopholes that allowed the little people to almost win will be permanently sealed for all of time.
In the end the mega wealthy will win. As they always, always do.
But before that happens, I’m fascinated by every twist and turn. You do whatever you want. I have no idea what the future holds.
But I know what stocks I’m holding.
Okay... to be more accurate, I know what stock (singular) I’m holding.
-Jeff
