"It's not our economy, it never was." Can someone mark this down? A historical quote? Someone should put this in the history books. Quoted by Jim Sterlingson.
@1984Brandon
3 жыл бұрын
Edit: James F****** Steffanie Sterling Son.
@rhael42
3 жыл бұрын
Some guys named Marx and Engels wrote an entire book about that quote
@Trailblazer2525
3 жыл бұрын
That's Jim FuckingSterlingson
@JimSterling
3 жыл бұрын
@@rhael42 I heard they were big fans!
@cameronhoward4718
3 жыл бұрын
Yes that was a moment
@decusq
3 жыл бұрын
"It's an attack on wealthy people!" Said a billionaire to the camera. "NO SHIT!" Said everyone else who isn't rich.
@samiraperi467
3 жыл бұрын
To quote Frank N. Furter, "Yes. Isn't it *wonderful*?"
@synthetic240
3 жыл бұрын
They honestly think that saying "it's an attack on wealthy people" is some kind of wake-up call. Wealthy people really do think they're better. They can afford to look better than us, they can afford to buy degrees that we need to earn, and they operate under the belief that their wealth, their beauty, and their "expertise" make them morally superior. Especially in America where so many churches get rich on selling what amounts to "luck" to poor people in exchange for their life savings today. Ask a wealthy person what a "good person" might look like; it won't be a sweaty, frazzled, over-tired single mother from Wisconsin working two jobs so she can afford to send her kids to summer camp. It'll be some beautiful model who travels between exotic locales while sipping champagne in a private jet.
@Joe90h
3 жыл бұрын
It really is as if the 'wealthy' believe anybody without money doesn't deserve it. As if it's a real resource that actually exists, and not an imaginary, arbitrary value to determine worth in a trade so both sides are not left feeling ripped off.
@TimTams_64
3 жыл бұрын
It would hurt you if it was your hedge fund said one millionaire, if i had a hedgefund i wouldnt be poor now would i.
@leitregjok2830
3 жыл бұрын
It's just retaliation
@murfeel1173
3 жыл бұрын
"The great lie of capitalism is that YOUR labor will earn you capital. The grim truth is that your labor IS the capital." -- Jim Stephanie Sterling, 2021
@kaltaron1284
3 жыл бұрын
To be fair a job with a payment above a certain threshold allows you to build (a bit of) capital. You won''t get rich but you should be able to come by. Unfortunately those jobs are getting fewer so the "middle-class" is vanishing. And then only poor and rich people remain. And once you're poor you certainly can't build capital with your labour.
@AxxLAfriku
3 жыл бұрын
I have a big... BIG... BIIIIGGGGG... muscles!!! HAHAHA!!! What did you think I was going for? That's so DIRTY of you! GAGAGAGA!!! I am the funniest KZitemr ever! Maybe that's the reason why I have TWO (!!!) HOT (!) GIRLFRIENDS. Thanks for being alive, dear mur
@weregretohio7728
3 жыл бұрын
Literally selling your body and time.
@GratefulDave93
3 жыл бұрын
If you like that quote there’s this book called Capital Vol. 1. You should check it out.
@ericmememan4632
3 жыл бұрын
karl marx walked so jim sterling could run
@OnyxIdol
3 жыл бұрын
"They call it the American Dream because you have to be asleep to believe it" - George Carlin
@j3ttmaverick
3 жыл бұрын
2008 : We crashed the economy, no regulations please. 2021 : The poor people are getting all the money, we NEED regulations!
@nubreed13
3 жыл бұрын
Irony is 2008 happened because the market got deregulated in the 80s.
@AuraCreed
3 жыл бұрын
@@nubreed13 why on earth was it deregulated??
@growingsage
3 жыл бұрын
@@AuraCreed lobbyists and Reagan who is now known as the "Great Deregulator"
@Mordrevious
3 жыл бұрын
@@AuraCreed Because rich folks not being able to make literally all the money isn’t acceptable. Any impediment to the infinite growth of wealth at the top of the pyramid is literally blasphemy and also communism. At least that’s how conservatives like to phrase it.
@SadisticSenpai61
3 жыл бұрын
Reagan hero-worshiped Calvin Coolidge - the guy that was president for most of the 1920s... and basically set the US up for the Great Depression. The stock market crashed less than a year after Coolidge left office. It's only thanks to the strength of the New Deal banking reforms that the US economy held on as long as it did without another such major crash. Even then, it was the repeal of the Glass-Steagall in 1999 (literally only Bernie voted against it and Clinton signed it) that finally paved the way for the crash of 2008 (which started in 2007 in housing market-adjacent parts of the economy). Glass-Steagall still hasn't been re-implemented, which is why another crash was inevitable and 7-10 years is the general boom-bust cycle of capitalism. We still had the boom-bust cycle with that regulation in place, but that regulation kept the booms and busts from getting too large to crash the entire economy. Not that we didn't still have major booms and busts. I remember the dotcom bubble of the 90s - and I know a guy that was personally impacted by it. In 1987, there was another major stock market crash but they managed to smooth it over by freezing all trading and by millionaires injecting a ton of money into the market to "calm the fears." It's also worth remembering that the stock market was literally on life support from September 2019 onwards. They were pumping a ton of money into the stock market to keep it artificially high every couple weeks specifically because it kept beginning to crash every couple weeks. Covid actually injected quite a bit of stability into the stock market because investors could predict what the general populace (consumers) would do. It's counter-intuitive for most of us because we don't live on Wall Street and the stock market generally doesn't effect our lives on a regular basis _unless_ it crashes. Sorry for the wall of text
@Lultschful
3 жыл бұрын
In a move towards more transparency, Robinhood was just rebranded to "King Richard."
@gabssza8569
3 жыл бұрын
Shouldn't it be Sherif Nothingam?
@TheAirBear2000
3 жыл бұрын
@@gabssza8569 Either that or Prince John.
@Servellion
3 жыл бұрын
@@gabssza8569 No, I think King Dick sums things up well.
@SorowFame
3 жыл бұрын
Isn’t King Richard usually good in Robin Hood stories? True king and all that?
@teddyberwald5504
3 жыл бұрын
@@SorowFame I think the point here is robin hood is royalist propaganda, and perpetuates the myth of the "good king"
@Griffolion0
3 жыл бұрын
"It's gambling, but with thousands of human lives on the line." It's never NOT with human lives on the line. Remember that.
@TrueInvisible
3 жыл бұрын
you do realize that since the mythical times, human lives are the most disposable, expendable, and plenty you can sacrifice tons of them and kill as many as you need, and no one gives a shit. because humans are worthless by design. while the "money" that humans made up, is more valuable .. yes paper is more valued than humans, numbers are more valued than humans , in fact ANYTHING is more worthy than humans. you have over 7 billion human garbage to sacrifice for your own self centered greed, why not just purge the race for your own greed? that is how capitalism works, you destroy others to make money any way possible. because corruption hates rivalry!
@Goshified
3 жыл бұрын
They said “human livelihoods” at 2:40.
@Eon2641
3 жыл бұрын
18-30, unfortunately.
@Bacteriophagebs
3 жыл бұрын
There's a saying in the investing world: "It's easier to make two million out of one million than to make two out of one." I recently learned that this is actually a law. SEC Rule 506(b) regards anyone worth over $1 million to be an "accredited investor," regardless of their actual education, experience, or qualifications for investing, and limits the number of non-accredited investors in a new stock to 35. This means that a new company _can't_ be funded by a grass-roots movement that will make hundreds or thousands of poor people rich if the company succeeds. All publicly-traded companies _must_ be funded by millionaires. *By law.* Yeah, it was never our economy.
@marcosdheleno
3 жыл бұрын
thing is, its like that to basically stop money laundry. its far easier to follow the money when its comming from a single entity, instead of a hundred.
@maxsalmon4980
3 жыл бұрын
506(b) is fairly specific in terms of what it's used for, and it's just one section of SEC code. There are other kinds of transactions that aren't limited in the same way, some more restrictive, some less. HOWEVER...you are correct in saying that there are separate rules that apply to 'accredited' investors and 'non-accredited' investors, and that those differences...while different in different parts of the code...often come down to limits on what non-accredited investors can do, or how much they can contribute (and therefore, how much they can risk, and how much they can hope to profit).
@Bacteriophagebs
3 жыл бұрын
@@marcosdheleno You might be right, but if so, it's kind of worse, because the rule says that _any number_ of "accredited investors" can contirbute. So you could still have thousands of people contributing just a couple of dollars or whatever, they just have to be millionaires. It doesn't actually limit the number of investors, just who they can be.
@AnonEyeMouse
3 жыл бұрын
@@marcosdheleno That's the excuse, not the reason. It sounds good out of context but I used to work in banking and then trained tax inspectors... it's harder to track a single investor than multiple small investments when it comes to laundering. You see, a money launderer wants all the money to travel in a single direction as it's cleaned. That's easy to hide as a large investment. An odd trade of a millionaire could just be a random millionaire making a poor life choice. When 100 small investors make the same odd choice, THAT is easy to spot. That draws us fast it's much rarer to have a bunch of people making a type of goof together. Imagine walking down a busy highstreet and one guy answers his phone and does an about face... you may notice, you may not. Now imagine it's thirty people... We have multiple methods of identifying and dealing with money laundering, but restricting investment to the rich isn't going to help us track it... it does keep the poor from getting too involved in the stock market. So you are right about the claim... but the claim is false.
@Cobra6Gaming
3 жыл бұрын
Because "poor" people should not waste their money on highly volatile stock that has a good chance of going under. They simply don't have the financial means to lose that money.
@you1027
3 жыл бұрын
Bane had it right all along. Crony worker: "This is a stock exchange, there's no money for you to steal!" Bane: "Then why are you here?"
@brandonporter8509
3 жыл бұрын
With how shit this world is at this point I’m just here to watch it all burn I’m poor and barely make ends meet and I’m loosing money to Continue working. I’m Literially delaying my own homelessness by working over 45 hrs a week.. I’ve Became the joker in dark knight at this point. I really just want to watch the world Burn.
@flyingteeshirts
3 жыл бұрын
"The actual ruling class propagates ideologies of individualism, while tending to act as a class. (Many of what we call ‘conspiracies’ are the ruling class showing class solidarity)." - Mark Fisher, "Exiting the Vampire Castle"
@joaomarcelo742
3 жыл бұрын
Great quote
@Bluecho4
3 жыл бұрын
It makes perfect sense, of course. If the ruling class fears anything, it's people no longer only thinking about themselves, and instead banding together to oppose the ones oppressing them. The masses must be divided against each other, lest they unite and assert their own class interests.
@Stad122
3 жыл бұрын
Honestly, the circles in the glasses makes it look like googly eyes, so it's pretty on brand.
@ionfalcom1
3 жыл бұрын
You ruined it! (or made it better.)
@Malthanis_
3 жыл бұрын
@@ionfalcom1 Definitely made it better.
@ieuanhunt552
3 жыл бұрын
Just when I I thought their costume couldn't get any more amazing.
@jailcatjones3250
3 жыл бұрын
They remind me of synth eyes or evil buu's eyes
@andrewboyko8304
3 жыл бұрын
I'm just amazed that they aren't getting a migraine from that.
@TF_Tony
3 жыл бұрын
Whenever someone tells you "the economy's growing", ask them if that mean's you'll get a raise.
@MrShagification
3 жыл бұрын
Why would it? The people who make the most are the one's who employ others. And in this system, it is only logical for them to give workers a little as possible while trying to extract as much productivity. And it is logical for workers to try to make as much as possible while doing as little work as possible. That's the system. Go live in the wilderness alone if you don't like it. There are tradeoffs for modern societies.
@jarod6714
3 жыл бұрын
"The economy is doing great!" "For who?"
@TF_Tony
3 жыл бұрын
@@MrShagification Lol. Ever heard of regulation and social democracy? "It's just natural, and we can't do anything about it. I love being exploited. I love being a pawn in the game of tyrants. Yay me. YOU are the sheep!" What a 200 IQ move.
@MobiusChickenStrip
3 жыл бұрын
@@MrShagification "There are tradeoffs for modern societies" The entire reason we began settling in river valleys at the dawn of civilization was because we discovered there was value in sharing resources, including the ability to provide for everyone. THAT's why we formed society in the first place. When 1% of the population hoards everything, it doesn't exactly work.
@NewAgeRed
3 жыл бұрын
@@MrShagification Whoosh
@theajshortman
3 жыл бұрын
The stories of people paying off debts and donating to hospitals has been truly heartwarming.
@ravenautumnfire
3 жыл бұрын
And a bit dystopian
@siddhantbanerjee3328
3 жыл бұрын
They are. And i hope more get it before the bubble inevitably bursts
@666Tomato666
3 жыл бұрын
or teacher pension funds being able to exit
@Akimbo411
3 жыл бұрын
A lot of those stories are propaganda. People have to sell to do these things which is what the hedge funds want. The point is to hold
@666Tomato666
3 жыл бұрын
@@Akimbo411 propaganda or not, if you need to exit to be able to put food on your table and have a roof over your heard for the next month, DO IT, we're not at the point where we need to force people to die to hold but yes, everybody else: HOLD, the squeeze is yet to come
@greenredblue
3 жыл бұрын
It seems pretty apt to remind people now that telling someone to "pull themselves up by their bootstraps" was originally a cruel joke. The original, literal meaning is that by tugging on the straps on your shoes you can fly.
@Call-me-Al
3 жыл бұрын
As seen in the Baron Munchausen stories.
@SadisticSenpai61
3 жыл бұрын
Yup, the whole point of the phrase in the first place was that you literally can't pull yourself up by your bootstraps. It's not physically possible. But somehow conservatives turned that into a slogan for pissing on poor ppl - I'm guessing that happened around the time ppl stopped actually wearing bootstraps so the ridiculousness of the phrase stopped being so obvious to the average person. A more modern version of the phrase would be "pull yourself up by your shoelaces." Anyone who stops and thinks about it for even half a second would realize that's absolutely ridiculous.
@Laydralae_Joy
3 жыл бұрын
we did not buy shares in GME to make money, this wasnt an investment. we purchased a product, and the product was rich people crying.
@hazukichanx408
3 жыл бұрын
Taking a million dollar bribe from some billionaire: Meh. Seeing a billionaire try to process being told "no", repeatedly, until giving up, by a 'poor' person who'd rather have their dignity: Priceless.
@tensevo
3 жыл бұрын
Except that is not what happened, at all. The hedge fund closed it's position with a loss, and moved on. A few wallStreetBets traders made obscene gains. Most people, the little guy, "average joe", got completely rekt.
@tensevo
3 жыл бұрын
What it was, was cynical traders on both sides, Melvin, and WSB, playing a zero sum game, WSB brought noobz in, literally as collateral, lambs to the slaughter. The poor just got poorer.
@Noms_Chompsky
3 жыл бұрын
As if the "billions lost" would have ever seen the tax forms of the IRS anyway; America lost no monies
@ChristesII
3 жыл бұрын
@@tensevo Don't forget about the hedge funds that made a ton of money from betting on GME and actually getting out at a good time.
@philiplynx6991
3 жыл бұрын
Robinhood: 'Hey, stop trying to steal from the rich to give to the poor, that's not what you're supposed to do!'
@talesfromthenuzlocke1619
3 жыл бұрын
@@kaizokujimbei143 10/10 prequel meme and name of top tier straw hat
@colinmartin9797
3 жыл бұрын
Problem is that this was NOT what happened. Robinhood on a pure, simple level, had legal, contractual limits that they had to operate within, and the internet was trading gamestock at a volume that literally couldn't have been comprehended.
@hazukichanx408
3 жыл бұрын
Hilariously disingenuous company, from all I've seen. Based on what they offer, they seem more like a high risk stock gambling provider than anything, a far far cry from their namesake... "Margin trading? Cool. Short sells? You bet." All the shadiest nonsense shit of the already bullshit stock market, conveniently served up to people who stand to lose everything they have at a little bad luck and/or lack of insight (which I'm sure their gamble-pimps will go to no trouble to provide them). Bah humbug, even pre-epiphany Scrooge would call that out.
@Destinychanged
3 жыл бұрын
Rich people: “STOP BEING POOR!!!!!” Human: “OK. I’ll try to make some money doing what you do....” Rich people: “YOU THIEF!!!”
@ince55ant
3 жыл бұрын
dey tuk er jerbs
@CarbonRollerCaco
3 жыл бұрын
YOU MUST BE THIS RICH TO GAME THE SYSTEM
@TheUrgleBurgle
3 жыл бұрын
“It’s not about the money. It’s about sending a message.” - The Joker
@zodd131
3 жыл бұрын
Everything stonks
@StrazdasLT
3 жыл бұрын
Shh, the joke is apperently some an unmentionable movie now according to feminists and you defy feminists jim is going to hate you forever.
@daanfranken9772
3 жыл бұрын
Society
@JB-pu3oj
3 жыл бұрын
In germany, there is a saying: The ship is off course. And a comedian replied to this: The ship is on course, it just never was our ship to begin with!
@Verganon
3 жыл бұрын
Volker Pispers? Was it him? 🤔
@herpesdergotterbote2719
3 жыл бұрын
Sounds like him
@Khazar321
3 жыл бұрын
@@Verganon Volker Pispers said something along the lines of "we are in a train and there are no other tracks, we can't change the train, only the conductor (political party in Power)." So always the same direction, no matter the party/leader and it will probably not end too well as things are going now.
@Odima16
3 жыл бұрын
"If everybody was rich, none of us could be coerced into making rich people rich." I love this line. People being poor is good for rich people because those poor people have no wiggle room to buy anything but the least expensive thing, which is what the rich provide. You have to be somewhat affluent in order to be able to support small businesses.
@vantahawk2834
3 жыл бұрын
Maybe even more crucially, poor people have nothing to sell but their own labour in order to make a living. Working at workplaces which are owned and controlled by the very people who do not need to work hard to survive, bc they get to keep and sell the products produced by the workers, and get to pocket the difference from the value produced minus wages. Capitalism _subsists_ on this inequality. Some lucky few get to live by virtue of merely owning capital which only works if the rest is excluded from that capital and thus forced to sell their labour or pay their rent to those capital owners at a loss, further growing their capital and reinforing the cycle.
@whatinthe4500
3 жыл бұрын
capitalism at its finest.
@tbalmer1207
3 жыл бұрын
If everyone is rich everyone has nothing... And still if everyone had the same eventually the same would happen...
@vantahawk2834
3 жыл бұрын
@@tbalmer1207 capitalist realism at its finest.
@tbalmer1207
3 жыл бұрын
@@vantahawk2834 hardly it's just math and knowing how dumb the average human actually is.
@AdmiralBison
3 жыл бұрын
"The 1% are powerful, the 99% when *organized* and *prepared to fight* are far more powerful" - Bernie Sanders.
@MrShagification
3 жыл бұрын
Except 99 percent while never organize so...
@exilestudios9546
3 жыл бұрын
@@MrShagification tell that to wallstreet bets, antifa, BLM and others. the 99% have had enough of the 1%s bullshit and now we are hitting them where it hurts the most their bank accounts
@quinnkaplan172
3 жыл бұрын
@@MrShagification except when they just did.
@AdmiralBison
3 жыл бұрын
@@MrShagification Yeah, especially when most of the news in the country is corporate media like CNN and Fox News Network corp un/mis-informing. The last time I found the 99% organized and dealt with the 1% decisively was the 1789 French Revolution.
@UltLuigi1
3 жыл бұрын
The 1%'s game is to divide the 99% up so that they can't organize. That's how they've been able to get away with it; capitalist promises are a very efficient way to divide up a union.
@lostbutfreesoul
3 жыл бұрын
"Yes the planet got destroyed. But for a beautiful moment in time we created a lot of value for shareholders." - Marc Benioff.
@stingerjohnny9951
2 жыл бұрын
CEOs in their space station: …uh guys, we can eat money right?
@Slappy_Box
3 жыл бұрын
Jim, It's not gambling; It's "surprise mechanics".
@casono
3 жыл бұрын
FACTS
@Sonichero151
3 жыл бұрын
And now the Elite have been surprised........... As their bullshit turns against them
@dr.chungusphd108
3 жыл бұрын
Hey there.
@digitaldeathsquid3448
3 жыл бұрын
Suprise economics!
@REfan001
3 жыл бұрын
they sure were surprised
@spawniscariot9756
3 жыл бұрын
It's only class warfare when the poor fight back...
@diegoarmando5489
3 жыл бұрын
Robinhood is like being kicked out of a casino for being too skilled at blackjack.
@Haan22
3 жыл бұрын
I mean, card counting can absolutely get you kicked out of some casinos. Always read up on local laws and regulations. That said the Robinhood CEO and all the other apps that blocked retail traders can suck a blade.
@PancakemonsterFO4
3 жыл бұрын
Luck 10 amiright?
@TheDarkjedi94
3 жыл бұрын
Exactly. Once the house starts losing money the rules change and the game pauses. You’re only allowed to win at the cost of people below you Losing. They keep us going against one another so they can stay rich.
@jazzycat8917
3 жыл бұрын
@@Haan22 That happened to my maths teacher. He's banned from most locations in Vegas for card counting
@archmagusofevil
3 жыл бұрын
@@Haan22 that is exactly the point. Counting cards isn't cheating. It's basic strategy. Why wouldn't you take into account what cards you could possibly get when deciding if you should get more? But card counting lowers the casino's profit margin, and we can't have that.
@IronSpider87
3 жыл бұрын
Jim looks so happy with themselves, it's actually really refreshing. Fuck Wallstreet, thank you :).
@val7885
3 жыл бұрын
Exactly what I was thinking, I love seeing it
@Se7en2107
3 жыл бұрын
They really have been glowing lately. You do love to see it!
@Highland_Ronin
3 жыл бұрын
@@Se7en2107 that's the best way I've heard it described. Jim really does seem so much happier and I'm happy for them.
@SeymourDisapproves
3 жыл бұрын
We love to see it! :)
@joshuaamy3010
3 жыл бұрын
Chaotic gender neutral
@nrc1965gm
3 жыл бұрын
They told millennials to stop wasting money on avocado toast, and this is the result
@alexjaybrady
3 жыл бұрын
Remember the rule: if a service is free, YOU and your information is the product
@nicolaim4275
3 жыл бұрын
(with the possible exception of products that are open source and/or publicly funded)
@FlorSilvestre12
3 жыл бұрын
@@nicolaim4275 Or if it's so incompetently run that it can't seem profit off of you no matter how much it tries (*cough cough* Tumblr *cough*)
@AoiLucine
3 жыл бұрын
@@FlorSilvestre12 I sort of love tumblr for this, as much as I hate it (and the smut ban, so much wonderful art lost to the wilds... so much good photo references lost to the wind...!!)
@falconJB
3 жыл бұрын
@@FlorSilvestre12 You are still the product even if they suck at selling you.
@FlorSilvestre12
3 жыл бұрын
@@falconJB Tumblr users are what is known in economic terms as a "bad"
@ChengTeoh
3 жыл бұрын
You're unpredictable when you have nothing to lose, you know it, and you don't give a f0ck. That's what they fear the most.
@adaptorperish1322
3 жыл бұрын
It’s KZitem, you can swear here. If you’re typing “f0ck” meaning “fuck”, then just type so.
@MasterfulPeon
3 жыл бұрын
They don’t fear us, and never have. We are just the livestock to be used and abused as needed.
@falconJB
3 жыл бұрын
Big financial companies, like Fidelity, BlackRock, and Vanguard, own millions of shares of GameStop, they could end this anytime they want to. They are using people to kill off other companies that they compete with and when they decide they are done playing this game they will sell their shares crashing the price and leaving all the little guys with nothing.
@aeternusdoleo4531
3 жыл бұрын
Yeap. It's not weaponized autism. It's weaponized nihilism.
@aeternusdoleo4531
3 жыл бұрын
@@MasterfulPeon Any farmer knows to stay well away from a stampede. You do not want to be in front of, or worse, buried under several thousand pounds of pre-beef.
@terrab1ter4
3 жыл бұрын
Best comment I read somewhere: "Poor people do not worry about 'recessions' because their lives are a continuous recession."
@jakubivanecky8184
3 жыл бұрын
George Carlin: "Rags to Riches, The Amercian Dream... Because you have to be asleep to believe it"
@kaltaron1284
3 жыл бұрын
It happened form time to time. Like winning a lottery happens to some people. And yes for the rest it remains a dream.
@eicha41624
3 жыл бұрын
@@kaltaron1284 there are many studies on how winning the lottery ruins peoples' lives, and many lottery winners become even poorer than they were before. It's tragic, that the thing people believe will save them ends up doing more harm
@Wastingsometimehere
3 жыл бұрын
He was always decades ahead of the rest of us.
@marcinpomidor1226
3 жыл бұрын
He had also said: "it's a big club....and you ain't in it" god bless George
@kaltaron1284
3 жыл бұрын
@@eicha41624 That's true. A lottery win is often not that much money in the grand scheme of things so people not used to having that much money tend to waste it. Not everybody does for sure but there were many cases who did. Makes hoping to win the lottery to make it big even more of a pipe dream.
@andreus719
3 жыл бұрын
Robinhood: "Trading for the rest of us." Normal people: "Okay" Robinhood: "Not like that"
@Jollefjoll
3 жыл бұрын
As I understood it Robinhood halted the buying of the stocks because they didn't have liquidity enough to actually clear the trades. Therefore needing to raise money to clear future trades, which they then did and allowed customers to buy these stocks again?
@cybogg13
3 жыл бұрын
@@Jollefjoll Isn't the Liquidity delivered by the stock exchange? If I remember correctly the Brokers only execute orders, if there wasn't any Liquidity, every Broker would have had to shut down the trades. Besides that, their connections to Citadel make this explanation especially hard to believe lol
@LessDevoid
3 жыл бұрын
Fuck Robinhood, I'd advise everyone to get the fuck out of Robinhood. I'm switching my portfolio and investments to Fidelity since they didn't put a stop on trading GME and 49 other stocks. Charles Schwab and Fidelity are the two I know off the top of my head that didn't stop active trading of any stock since this short squeeze started.
@llab3903
3 жыл бұрын
@@Jollefjoll idk who told you that’s how the stock exchange works but they lied to you
@dreamerabe
3 жыл бұрын
@@llab3903 That's the excuse Robinhood gave.
@sentrysapper45
3 жыл бұрын
"Truth is, the game was rigged from the start."
@jonathantillian6528
3 жыл бұрын
Hey, this is serious. People with _multiple boats_ are being hurt here!
@gydorack
3 жыл бұрын
Meet Jeff Bezos. He was on his way to becoming the world's first trillionaire. Now that his brokers can't shortsell junk bonds. He may have to spend the rest of his life as a measly multibillionaire. Can you live with that guilt on your conscience?
@jonathantillian6528
3 жыл бұрын
@@gydorack *bad Sally Struther impression* You too can adopt a multibillionare for as little as $300,000 an hour. With your donation you will be providing a multibillionare with the caviar, Dom Perignon Rose Gold, and Swiss bank accounts they desperately need ton continue to feel superior to the rest of the world.
@Jcewazhere
3 жыл бұрын
How dare you! They're not boats, they're yachts! :P lol
@mithos56
3 жыл бұрын
Kinda undersold how twisted the hedgefunds are. They shorted more shares then actually existed, and the plan was to drive the stock price down to zero ( they even release reports on the health of the companies to help do so) so they'd never have to pay them back at all. The plan wasn't to spend some money to make a profit, the plan was to spend no money to make a huge profit.
@lachlanmcgowan5712
3 жыл бұрын
Yep. They do this any time a publicly traded chain store starts looking like it might be in financial trouble. It's how they killed Toys R Us.
@MrSkeltal268
3 жыл бұрын
And that it wasn’t redditors driving up the price in the beginning, it was the mere fact that when you short a stock over 100%, every share and then some has to be bought back at a lower price. Every share has a potential buyer. So introduce a few more buyers and supply and demand takes care of the rest.
@BurningFyre
3 жыл бұрын
Literal insider trading and a bunch of "free market" advocates jumped to its defense
@jeronimo196
3 жыл бұрын
One of the very few people int this comment section that knows anything about the topic. "Shorting the house market bad" - Jim Sterling has lost the plot completely, years ago.
@hazukichanx408
3 жыл бұрын
"Hello good sir, I'd like to sell something I don't have." "Certainly sir! You seem rich enough to not have to obey the basic laws of reality! =D" Spot the problem. _Hint: It's the second guy, being the second guy._ Don't be the second guy, people.
@samkeiser9776
3 жыл бұрын
I’ve heard that this whole thing is largely bipartisan, which isn’t surprising, when you have a conflict like this with two sides that are “the rich” and “the poor” no one is going to side with the rich.
@executioner_ecgbert884
3 жыл бұрын
Unless they are very gullible or scared
@Beoslasher
3 жыл бұрын
There’s an irony in being called Robin Hood (Stealing from the rich and giving to the poor) and being more like the Sheriff of Nottingham. Need to rename that app I think
@hazukichanx408
3 жыл бұрын
Robbing Neighborhoods. Not quite as pithy, but vastly more accurate.
@MrJohndoakes
3 жыл бұрын
Then people will just run the bit with Alan Rickman: Guy of Gisborne : Why a spoon, cousin? Why not an axe? Sheriff of Nottingham : Because it's DULL, you twit. It'll hurt more.
@Enema27
3 жыл бұрын
James Stephanie sterling, if you want to get em out, open an only fans and let us know!
@bernardoheusi6146
3 жыл бұрын
Brave man...
@shloopaboopa7718
3 жыл бұрын
I'd sub to it
@emanuilspasov3678
3 жыл бұрын
i'd simp
@ceresbane
3 жыл бұрын
according to legal eagle, you are free to show tiddy.
@alexschmitt2980
3 жыл бұрын
@@ceresbane That just means that state governments (in those states where you have that right, which is not all of them) won't come bonk you on the head for it. KZitem handles its fiefdom with a much sterner hand.
@sludgemouth1408
3 жыл бұрын
"Bullshit ain't born in a bubble." Jim out here just racking up the bangers
@andrewmandrona7891
3 жыл бұрын
No, short selling is not gambling. It's much worse (in this case). The hedge fund shorted GameStop by more money than it was worth, meaning that without ridiculous demand from Reddit, the stock was guaranteed to fall simply because they had enough money to short it with. In other words, they were directly causing GameStop to fail, not profiteering from it.
@JewTube001
3 жыл бұрын
a short is only a bet, GME was falling anyway due to fundamental reasons, hence the large bet it would go down. if people started shopping at the gamestops again then the shorts would have no power at making the business fail. if they really didn't care about profiteering, then they could simply do a takeover and then liquidate or shelf the firm.
@andrewmandrona7891
3 жыл бұрын
@@JewTube001 don't think you understand. Selling stock makes that stock's value go down if you sell enough of it, regardless of the company being traded. Shorting a stock is like selling it in this sense. The reverse is a pump-and-dump. Buying so much stock that the value becomes inflated, and selling at a profit. Market values always take into account how a stock is selling.
@JewTube001
3 жыл бұрын
@@andrewmandrona7891 selling is a natural part of the market; if people don't like it to the point where sells outnumber buys it shows the good being traded is losing value. this is simply basic supply and demand. you don't understand that you're putting the horse before the cart here and why the business is failing. the bets on something failing aren't the cause for failure. furthermore your reverse PnD makes no sense here as that's a two part inverse scenario where in this case the shorters are expecting a dump only - in other words they expect the firm to fail - a pump side simply wipes out the shorters. as a bonus round: PnDd tend to be very safe as the front runners dump on the following dumb money in short order, where as a heavy short position like this is extremely risky as it's long term exposure while anyone with some money can come and simply buy back up all the stocks. hopefully some of this made sense and you'll continue to learn more about finance.
@andrewmandrona7891
3 жыл бұрын
@@JewTube001 I don't think you understand how things are valued on the market, or how supply and demand can be manipulated. Selling things that are losing value is fine. But one of the factors in the value of a stock is how well that stock performs on the market. Even if a company is struggling (and regardless of if it is), selling a large amount of their stock will cause it to be valued less, and it will make the company take a financial hit. We can see this in the immediate aftermath of market crashes. People start selling massive amounts of stock, and perfectly stable and productive companies take a hit despite not losing real value, only perceived value on the market. What the hedge fund did was this kind of manipulation. Sure, GameStop was failing, but using shorts to sell more GameStop shares than there actually are directly made the stock less valuable, and helped them in the short. What you have to understand is this: THE ACT OF BUYING OR SELLING A STOCK IMPACTS ITS VALUE. And by betting against it enough, you can lower the value all by yourself. Also, if a stock's value is what determines buying and selling, and not the other way around, why did GameStop's value skyrocket when a bunch of people bought stock in it? It's obvious market manipulation that directly shows how disproportionate the impact of buying or selling a stock is compared the the performance of what it is supposed to represent. Here's my main point: stocks don't represent real value. They represent the perceived value of a company, based largely on how well it sells, and with enough money you can control the sales, and thus the value of the company. This is why market manipulation is possible and why markets can crash due to overvaluing stocks that represent _literally nothing_, like the synthetic CDO's of the early 2000's.
@JewTube001
3 жыл бұрын
@@andrewmandrona7891 so going by your logic every buy or sell is "manipulation", or only short selling because you think they're bad or whatever? GME was failing because it was failing, but it seems your slowly starting to realize this now. as for the rest, the key you seem to be missing is that thing called RISK, these are bets - that means risk is involved. you make a short like this, you risk everything you have in the position. now think bigger, this means all these plays have a chance to lose, and a chance to be severely punished - that means again, a short is a bet, but more importantly there is a balance to the game. and yes, market fundamentals play a huge part in loading that balance. im not sure how to tackle your end conclusion without you admitting profiteering was the motive or not, as to be entirely honest, it's a wingnut conspiracy theory, especially if you don't understand how these markets work. now is gambling maybe a bad thing? sure can be. is it bad much the economy runs based on our confidence of it? well that's more complicated, because that's how we treat life in general, the stock market is simply an extension of that in monetary terms. why do things work this way? because we have no better metric to go by.
@cheater00
3 жыл бұрын
Inb4 "sTaY oUt oF pOLitIcS, gAmEs jOuRnO" Thank god for jim, queen of gaming journalism and our hearts
@Draclord35
3 жыл бұрын
Well, we probably wouldn't have had such an attack on hedge funds thanks to communists now, would we? They're more into occupying WS and rioting in the streets last time I've checked. 🙄
@sethbritton6970
3 жыл бұрын
@@Draclord35 Honestly? The Occupy movement and all that's followed was the polite final warnings before things get *really bad*. Do you remember how Tsarist Russia fell? Because the people had nothing left to lose. It sure is a good thing that America hasn't locked everyone but the wealthy out of America's success, and are sharing and uplifting everyone, and not leaving them to die out of sight out of mind, unmourned and alone. Because that would sound awfully familiar to those of us who took an even passing glance at history.
@Draclord35
3 жыл бұрын
@@sethbritton6970 You mean like when Russia was up to its neck into WWI? Yeah... the situation some armchair commies sipping on Starbucks late (who probably never flipped a page of Engels) are currently in isn't even remotely that dire. Don't get me wrong, I like to see bad actors of capitalism bleed money (that's the beauty of capitalism done right). It doesn't mean that I want it to be replaced by something even more stupid like the dictatorship of the proletariat. In case you're like myself and didn't pay attention to history classes: text book revolutions never end well. A few guilty heads roll... but many more innocent ones do too.
@sethbritton6970
3 жыл бұрын
@@Draclord35 Yeah. Revolutions suck for everyone, but that's on the heads of the ruling caste. Protip: their should never be a ruling *caste*, and yet.... Again, balls in their court, and I really don't want to see that timeline. But if that's the direction they're steering, what can I do? They deliberately locked everyone else out of the controls.
@divinityd662
3 жыл бұрын
He is our Kween!
@chemicalfire99x29
3 жыл бұрын
One of the best Jimquisition episodes I've ever seen. You absolutely nailed the summary of the past week and how corrupt wall street has gotten over the last few decades.
@RowanTS
3 жыл бұрын
Can’t believe the stonks meme was prophetic honestly
@Se7en2107
3 жыл бұрын
This is why Nintendo created Animal Crossing. They've been secretly training us for this very moment.
@heavensspire4421
3 жыл бұрын
Apollo smacking us all
@freddogrosso9835
3 жыл бұрын
All memes are prophetic.
@esbenm590
3 жыл бұрын
@@freddogrosso9835 Definitely not.
@freddogrosso9835
3 жыл бұрын
@@esbenm590 Just wait and see...
@mikethegrunty5968
3 жыл бұрын
As a wise young lady in a host club once said: I hate these damn rich people
@smokealotapotamus_104
3 жыл бұрын
Weeb
@mikethegrunty5968
3 жыл бұрын
@@smokealotapotamus_104 and?
@jubuttib
3 жыл бұрын
Ouran?
@mikethegrunty5968
3 жыл бұрын
@@jubuttib yup yup
@jubuttib
3 жыл бұрын
@@mikethegrunty5968 Been a good decade since I last saw it, some things just stick.
@mattvoelker241
3 жыл бұрын
I think my favorite quote out of this mess was "We can remain irrational longer than they can remain solvent."
@timothymckane6362
3 жыл бұрын
Rich people: "NOOOO YOU CAN'T BET ON AN STOCK APP THAT MAKES GAMESTOP RICH AGAIN!! YOU'RE GOING TO RUIN THE ECONOMY!!!" Poor people: "haha stonks go brrr"
@Black_Star_Racer
3 жыл бұрын
HAHAHAHAHAHAHHA
@jonathangarmuth8975
3 жыл бұрын
You kids need to turn those chat rooms dowm!
@MechaPlays
3 жыл бұрын
@@jonathangarmuth8975 brrr said the stonks
@hazukichanx408
3 жыл бұрын
Fear the old memes.
@TheSecondVersion
3 жыл бұрын
"It is easier to imagine an end to the world than an end to capitalism.” -Fredric Jameson (or Slavoj Žižek).
@krikorklenjian9696
3 жыл бұрын
capitalist realism by Mark Fisher actually
@belldrop7365
3 жыл бұрын
@@krikorklenjian9696 Pretty sure it was Albert Einstein.
@falconJB
3 жыл бұрын
@@belldrop7365 George Washington said it first.
@JT-iv7ju
3 жыл бұрын
@@falconJB No. It was FDR during the Gettysburg Address in 1776.
@spiraljumper74
3 жыл бұрын
Kim Stanley Robinson says it’s a Fredric Jameson quote, and I believe him.
@the.bloodless.one1312
3 жыл бұрын
I’m actually super down for some Jimquisitions being focused on just politics sometimes! This was amazing!
@OpinionatedHuman
3 жыл бұрын
This video in one sentence: We are just the NPC's in the rich mans world.
@abadenoughdude300
3 жыл бұрын
Reminds me of that scene at the very end of Men In Black where those aliens play marbles with universes.
@HangryOrc247
3 жыл бұрын
Thank you kind sir!
@jamesmallone
3 жыл бұрын
There's a reason Jim plays an instrumental of ABBA's "Money" so often in this series, and yes, I got into it because of it, and it is a great song that (mostly) holds up. "Money money money, must be funny, IN A RICH MAN'S WORLD. AH-HA, HA-HA, all the things I would do, IF I HAD A LITTLE MONEY, IT'S A RICH MAN'S WORLD!"
@nikoteardrop4904
3 жыл бұрын
I just can't get over how goddamn appropriate the Drill Queen theme is now.
@FanOFTrueHeroes
3 жыл бұрын
So long as someone named Sterling is yelling about the game industry...I will watch this Inquisition.
@crinosG
3 жыл бұрын
"What Radicialized you?" "KZitem videos about video games." I mean hey, whatever works right?
@danielramsey6141
3 жыл бұрын
Yep, so far that’s what happened to me.
@ilovecoffeev
3 жыл бұрын
Renegade Cut?
@VladiMatt
3 жыл бұрын
I hate the term 'radical' in this context. It implies this isn't a completely natural and rational way of thinking. It implies it's abnormal. Fuck that. The radicals are the ones defending the status quo.
@ConspiciousCultist
3 жыл бұрын
I was just playing video games and totalbiscuit's game reviews. Wtf happened? Where are my pants?
@ManyMonstersMedia
3 жыл бұрын
The fact that it’s thought of as radical at all that everyone deserves an actual fair shot to survive is absolutely bonkers
@maeschder
3 жыл бұрын
"Bullshit aint born in a bubble" Nope, it's produced in board rooms
@frostfairy40
3 жыл бұрын
In this house, we support Jim rocking their non-binary finery. Just sayin’.
@andrewovery6458
3 жыл бұрын
@@zeapic8500 *they
@manosassassin
3 жыл бұрын
I think it's disgusting
@frostfairy40
3 жыл бұрын
@@manosassassin Then why are you watching? Also, I don’t remember anyone asking you.
@manosassassin
3 жыл бұрын
@@frostfairy40 Because I like challenging my own opinions, and try to keep an open mind. Jim does know what's going on.
@bhutehole
3 жыл бұрын
@@manosassassin I couldnt agree more. these evil corps hes bitching about are the ones promoting this shit lol
@peterpobel4700
3 жыл бұрын
Whenever you hear or read the term "free market", replace it with "rich people doing whatever they want, no matter the consequences". Because that's all it ever was or will be. Trust me, a lot of things you didn't understand before will make a lot of sense.
@OnDavidsBrain
3 жыл бұрын
Remember, hold the line. It's like the Joker said, "it's not about the money, it's about the message." That message is, we know how your game works trust fund babies and we're taking all the goodies.
@sigzil1985
3 жыл бұрын
Problem is, they said 'no you aren't' and they make the rules.
@monkeyking9863
3 жыл бұрын
"they got their money, what else do they want"- USA police union chief
@pb1105
3 жыл бұрын
You not worried that its gonna be poor folk who take the hit when the bubble bursts?
@sigzil1985
3 жыл бұрын
@@pb1105 This is definitely what will happen but its what always happens. Even if only hedge funds lose, that's still pension funds etc. all tied in to that loss. The best thing that will come out of this is that it shows exactly how that happens.
@TowerArcanaCrow
3 жыл бұрын
Striking at the rich, showing they aren't immortal and showing they'll do anything to harm us at their profit, is the goal. And I'd say we've done pretty good at it so far.
@OrlyYaRlyK
3 жыл бұрын
They aren't 2000$ checks anymore either. They lied about that too.
@TresTrefusis
3 жыл бұрын
I'm all for calling a spade a spade and I'm an independant, not a democrat, but... 600 the first time, we were told by then president elect biden to consider that a downpayment and he brings us 1400, basic math, 1400+the 600 down payment comes out to 2000 dollars.
@dafff08
3 жыл бұрын
lets not forget how countries are being kept poor artificially because someone dude in the stock market decides this countries currency is worth just a fourth of whats the dollar is supposedly "worth".
@jrfour2408
3 жыл бұрын
Just want to say that you expressing yourself freely is honestly inspiring and heartening to see. Thank god for Stephanie James Sterling.
@randomsam949
3 жыл бұрын
As an oldskool, backwards, anti woke sort of chap myself, who will admittedly still giggle at a chap in a dress -just not be a dick to them in person, i gotta say... Jim has done wonders for my acceptance of this strange new world. Yep hes an odd one, by god we know hes an odd one. If putting on a wig makes him happy, you fucken go for it bud 🤣👍. Its not like hes any odder now. Bravo.
@sciencefantastic
3 жыл бұрын
My stepdad is the kind of person who thinks “socialism” is a dirty word. Sad considering it’s the wealthy who have a socialistic safety net for them while poor people starve to death because they’re “lazy”.
@shadowscribe
3 жыл бұрын
My sister pointed out the you came out (on Jimquisition) was the first time you really looked happy. Not smug when you're 100% right about a thing they harangued you with, personally happy.
@caseygoddard
3 жыл бұрын
"Locked out of the free market" is a good one. I'm going to remember that.
@bleakautomaton4808
3 жыл бұрын
When occupy had failed I had lamented to someone that it fell so hard and they told me "you should have just supported it more". Yes, buy an expensive plane ticket and join what was being mocked as 'a useless drum circle'. It was like the annoying pricks who would say "if you don't like this country then just leave" only with a more expensive proposition than getting out to wall street from a farther away state. I do still feel bad for not being as vocal as I could have been realistically, that didn't make that person less annoying at the time.
@TheTherapistGamer
3 жыл бұрын
I personally see the Occupy Wall Street protest as effective. Sure, it didn't end capitalism, but it had positive effects. For example, prior to the protest, no one used the phrase "99 percent," "1 percent," etc.Those terms really came into the public consciousness because of those protests. Mitt Romney was seen as a 1 percenter, and that was a big part of why he lost the presidential election in 2012. People like Bernie Sanders have been saying the same thing for decades, but after the Occupy Wall Street protest people actually started to listen to him and think differently. Protests rarely "work" in a day, a week, a month, or even a year. But I think the Occupy Wall Street protest changed the way many people talk about the economy. And controlling the narrative is half the battle. Many people online claim that protests don't work, but that is false. They have worked for thousands of years. Civil rights came about in the US because of protests. Women's voting rights came about because of protests. The list is very long.
@bleakautomaton4808
3 жыл бұрын
@@TheTherapistGamer That is a very nice point. Who knows where this sort of stuff will be in a few years. Thanks!
@tidalink
3 жыл бұрын
Gotta love the irony of a stonk selling app called Robin Hood
@silverchariot1570
3 жыл бұрын
More like robbing hood
@akmal94ibrahim
3 жыл бұрын
@@silverchariot1570 They should rename the app to Mayor of Nottingham.
@AileTheAlien
3 жыл бұрын
Well, at least people know their name is a lie now. :|
@arkinyte13
3 жыл бұрын
Prince John app. 🤴
@Canadish
3 жыл бұрын
I mean, the selling point was that it was about allowing normal people to trade stocks. That was the USP and slogan. It just turns out it's owned by Citedel, one of the very institutions its allegedly railing against. 'Controlled opposition'.
@SetsuneW
3 жыл бұрын
They aren't just betting the company will do worse; in many cases they take direct action to drive down the stock price and damage the company purely for their own profit margin.
@MrBazBake
3 жыл бұрын
That's illegal. You might be confusing it with when people take direct action to drive up the stock price and prop up a company's image purely for their own profit margin, which is legal.
@ManyMonstersMedia
3 жыл бұрын
@@MrBazBake oh yeah the rich never get away with doing illegal things and no one ever does anything illegal
@fuzzybuzzy3159
3 жыл бұрын
@@MrBazBake Murder is illegal but it happens anyway. They don't have rules, real ones anyway outside of very extreme circumstances. Even then... bailouts.
@sethbritton6970
3 жыл бұрын
@@MrBazBake As we've seen this week, 'legal' or not, the investor caste only cares if they stand to lose in some way. Or do you believe that the investor caste actually follows the rules that they wrote explicitly to punish poor people and keep them in line.
@Bladius_
3 жыл бұрын
@@MrBazBake Incorrect. Influential people in upper circles can very much talk bad of a stock and talk people into selling/not buying to drive it down. They're simply "stating their opinion", nothing illegal about that, right? Except it should be very illegal. Obviously. If you are rich, the law does not apply to you;, in fact, as we've seen this week, it will actively warp and bend around to you to protect your interests.
@procrastinatingstudent9773
3 жыл бұрын
Shorting a stock is not inherently bad but these hedge funds short the stock to 140% of all available stock Or in other words they were betting more that the whole company available that it would drop. It was sheer incredible greed bigger than anyone could ever think of. #buyGME #BUYNAKD
@NooneWillKnowExeptMe
3 жыл бұрын
It was market manipulation!
@brentwillems1316
3 жыл бұрын
This topic reminds me of something that was mentioned in the anime Aggretsuko: From the moment you are born, you are in debt. A debt that you will never truly be able to get rid off
@susantummon3463
3 жыл бұрын
Hmmm....yeah. I had to stop watching that show cos it hit too close to home.
@Potato-qv6hq
3 жыл бұрын
the true original sin
@davidtooby7481
3 жыл бұрын
David Graeber's book 'Debt: the first 5000 years' covers this idea a lot. Definitely worth a read.
@Wardog01Actual
3 жыл бұрын
Get 'em, Jim! You are a blessing to mankind. Love you, sis.
@sarahperkins6421
3 жыл бұрын
Tadano for president.
@blockyoxwinkle5829
3 жыл бұрын
Now I'm just imagining a Metal Gear scene where someone tells Snake about how Thicc Dad's Club fought back against the economic oppression.
@glitchedoom
3 жыл бұрын
Snake has to rename his swords Thicc Dad's Club and Potato in My Ass.
@blockyoxwinkle5829
3 жыл бұрын
@@glitchedoom this is a significantly better plot than anything in MGS4 or V
@DailyCorvid
3 жыл бұрын
"THICC DADS CLUB?" and then "SNIPER WOLF!" or maybe "WALL STREET WOLF!"
@blockyoxwinkle5829
3 жыл бұрын
@@DailyCorvid its just the LA LI LU LE LO scene but replaced with Thicc Dad's Club
@ginko2692
3 жыл бұрын
@@glitchedoom yes fuck omg
@meowpower08
3 жыл бұрын
The whole time this was happening i was like “jims gonna love this” + congrats again
@Yeshua_Kristos
3 жыл бұрын
Let's face it: the Jimquisition is _always_ relevant, but this is the first time in a LONG time I've seen Jim be genuinely happy with what they're doing. :D
@sku11bropat45
3 жыл бұрын
"they just locked people out" well, as they say in gambling, "the house always wins" ...usually because they straight up kick you out for winning too much but whatever
@StepBackHistory
3 жыл бұрын
I didn't say anything on the last video, but yeah I am so happy for you!
@grannys_sinister_corn_matrix
3 жыл бұрын
Honestly, side salad, can we all appreciate how HAPPY jim looks now that they're out in-showw and presenting the way they feel comfortable? absolutely delightful
@GrandSirThebus
3 жыл бұрын
"Can we keep politics outta my STONKS?" - some rich guy probably
@ptwob
3 жыл бұрын
I'm liking this fem sterling anti--capitalist arch
@SweetLittleAki
3 жыл бұрын
Aaah, you're already hitting the "when are my tits illegal?" phase of transition. Well Done
@SadisticSenpai61
3 жыл бұрын
Remember, "It's one big club and you ain't in it." That applies every bit as much to Wall Street as it does to the political parties - and frankly, it's all the same club for the most part. It's hard to find a politician in DC that doesn't have some kind of connection to Wall Street. AFAIK, the Squad and Bernie don't, but they're more the exception than the rule and the Dem party is working hard to try to convince the Squad to go along with the party line. Bernie being an independent actually gives him a lot of freedom of movement as he doesn't have to worry about what the party leadership thinks as much as the Squad does (who all have a D behind their name). But his newfound celebrity (he's spent most of his 30 years on the Hill as an unaffiliated nobody) does mean he has to be very careful about what he says and does and ppl are paying attention to him in ways that they never did before. One of the main reasons he's been so successful for the past 30 years in slipping progressive amendments into bills (which is how he earned the nickname Amendment King) is specifically because no one knew who he was or cared, plus his lack of party affiliation meant working with him on a bill cared no political penalty. Now if he puts an amendment into a bill, everyone takes the time to actually read it. And working with Bernie on a bill now? It's going to make headlines and bring political pressure and attention. Bernie's name recognition and political notoriety has effectively hamstrung him, but he's now head of the Budget Committee so he does have new power within the Senate to drive the political agenda on the Hill in a way he never had before.
@Tolly7249
3 жыл бұрын
You being giddy is absolutely delightful. You've really been happier lately and it shows in your work, I'm so happy for you. You absolutely bloody inspiration you!
@kathmorgan3429
3 жыл бұрын
Evidently, the problem with capitalism is that eventually you run out of other people's money.
@81OH4Z4RD
3 жыл бұрын
just have the government leak the slaves a little more $ ... funded by debt for their children to repay. generational wage-slavery accomplished.
@blacksun3884
3 жыл бұрын
"The last capitalist we hang will be the one who sold us the rope."
@wexaztor9394
3 жыл бұрын
what if someone made the rope from nature stuff?
@silver3981
3 жыл бұрын
"No ethical consumption" kinda throws the whole thing.
@terminaldeity
3 жыл бұрын
@@silver3981 No it's actually just an extension of the same thing. The idea is that moralizing basic consumption of goods is pointless if it exists within capitalism, because unethical practices are at the heart of all capitalist production. The "hang them with the rope they sold us" quote is attributed to Lenin, and meant to highlight that revolutionary power comes from the working class, and that power comes not in the form of ethical consumption, but an overthrow of the capitalist class. "Voting with your dollar" will not free workers from the capitalist mode of production, so we should worry less about ethical consumption and more about the power of collective action directly against the capitalist class, even if it means using their own tools against them.
@BenWard29
3 жыл бұрын
I guess there’s no compromise. I would feel much better about something like communism if it wasn’t so easily subverted by authoritarians. I just think humans are inherently hierarchical- I’m not sure we can ever throw off that yoke. I have witnessed first hand the failure of deregulation and the aggressively neoliberal form of capitalism, but why not shoot for a properly mixed regulated economy? Socialist but with some free-market features? Personally I’m not attached to any system- I just want less human misery in my life and for others. I also can’t say I think a reign of terror would be a good thing- I would hope a peaceful revolution could happen. I just don’t think you can solve violence with more violence.
@silver3981
3 жыл бұрын
@@BenWard29 I think there's a decent case for a hybrid system of socialism for the people, capitalism for the market. You want something driving progress in economic terms and that's Capitalism's strong point. Socialism is a good defensive strategy for the public against predation by unfeeling profit driven hand of Capitalism. A tangible support structure if you will. I don't think any economic system is best embraced on its own, honestly. I think they all stagnate in some way.
@Jed05
3 жыл бұрын
"REAL TRASH GIRL SHIT!" - STEPHIE THEE STERLING
@Syurtpiutha
3 жыл бұрын
To quote Run the Jewels: "LOOK AT ALL THESE SLAVE MASTERS POSIN' ON YO DOLLAR"
@DrunknLama
3 жыл бұрын
Or Royce Da 5"9; "Rob the rich and leave 'em with the fucking bill!"
@macrussell78
3 жыл бұрын
"We kill'n them for freedom cause they tortured us for boredom and even if some good ones die, fuck it the lord will sort'em. -Killer Mike
@Ayoken007
3 жыл бұрын
Literally learned about Run the Jewels 2 weeks ago thanks to a random suggested video from the algorithm.
@Syurtpiutha
3 жыл бұрын
@@Ayoken007 The Alogorithm works in mysterious ways. Glad it worked out for once!
@arkinyte13
3 жыл бұрын
“You don’t give a fuck that’s them tho.” “Till a peasant puts gun in your window.” -RTJ
@Mr.Spongecake
3 жыл бұрын
RobinHood years ago: "LET THE PEOPLE TRADE!" Robinhood now: "WHOOOAAA WHOOOAA too much trading for the people! "
@MikaelLevoniemi
3 жыл бұрын
Robinhood was originally - and still is: "LETS FIND OUT WHAT PEOPLE WANT TO TRADE AND UNDERCUT THEM"
@danielfulford6135
3 жыл бұрын
To be absolutely fair the reason why RobinHood et al stopped people buying is because the companies they use didn't have enough capital to cover the buying costs on the shares, which went from 2% to somewhere near 100%. Louis Rossman has a few videos on the finer details of the situation. This isn't defending them by the way, just providing additional information what actually happened.
@MrShagification
3 жыл бұрын
@@danielfulford6135 a lot of people here are just here to bitch about the system. They don't actually care why things happened, they just want to believe the worst because they enjoy complaining.
@tensevo
3 жыл бұрын
Robin Hood was the real noob in all this. They showed to be clueless when it comes to trading in a cash flow crisis, when all they have known are good times. I hope they can learn, draw a line and move on. Though many small investors got rekt. Which was not supposed to happen. Their marketing was such that is was supposed to be the other way round. People should be protected from the markets when they are playing with their life savings and unable to support themselves. This is no different to gambling when you are trading in sh*t coins, penny shares, or companies on the verge of bankruptcy. Nobody was saying this though, no just keep trading and keep "Sticking it to the man".
@PurushaDesa
3 жыл бұрын
“Your labour IS the capital.” That’s why it’s given the term “human capital” - and it’s hard to think of a more depraved term normalised by mainstream discourse.
@nena0900
3 жыл бұрын
I want a t-shirt that says “real trash girl shit” now
@MarquisdeL3
3 жыл бұрын
Same
@StarberrySlash
3 жыл бұрын
I'd buy that for some dollars.
@executioner_ecgbert884
3 жыл бұрын
What about one that says "when are my tits allowed?"
@fuzzybuzzy3159
3 жыл бұрын
My transmasc self demands a boy equivalent lol
@CeramicShenanigans
3 жыл бұрын
@@executioner_ecgbert884 yep I'd buy that one too!
@backupplan6058
3 жыл бұрын
I don’t care how many times people try to explain what these hedgefunds were doing that earned them money, no matter how much they dumb it down. It still makes zero sense to me...I guess that’s the point.
@freddogrosso9835
3 жыл бұрын
Yeah. Me too.
@archmagusofevil
3 жыл бұрын
The stock market is magic. The value of a stock is NOT based on the value of a company, it's based on the value people think a company might be worth in the future. To make matters worse, short selling literally breaks basic causality. These people are selling a thing they don't have and then buying it in the future so that they could have sold it now. It's trashy time travel, but for billionaires.
@MrBazBake
3 жыл бұрын
Hedgefunds don't exclusively short sell, they invest in a lot of witchcraft to make sure they never lose too much. The stock market is basically built on pixie dust and dreams. Sometimes people get money by exploiting labor value in the form of dividends paid to shares, sometimes they get money selling the shares to people who want the dividends or who want to resell the shares to other people who think others will want the shares. Shortsellers look at the market and the actuals and see a stock go up and go, "This stock is not going to pay dividends. The only value it has is that other people think it has value." They find someone with this inflated stock and say, "Can I borrow your stock? I'll sell it for you and when the price drops to where I think it should be I'll give it back with interest and pay your dividends." Inflated-stockholder lends them the stock. Shortseller sells it to someone who thinks the stock is good at that value and crosses their fingers. Either the stock was really worth the higher price and the shortseller has to eventually cut their losses and buy high-priced shares back at a loss, or the stock was overinflated and the shortseller buys low-priced shares off the market and pockets the extra cash they made. Shortsellers are betting that there is negative value to the current stock over what it can stay at sustainably. Considering Reddit just drove up stock through speculation over 3000% and told everyone they were doing it, this is basically a wrapped present for any shortseller who got out of their position when the price first went up. A hand-delivered stock that everyone but retail investors knows is worth nowhere near what it's at. This is the key. That subreddit, hedgefunds, long investors, shortsellers. All of these people are trying to make money off of how *you* and millions of others are going to react by either selling their shares to you or buying their shares from you, either right now or at some point in the future. All of them are trying to manipulate you. All of them are willing to lie to you. And they all know more about the market and what's happening in it than you do.
@marcosdheleno
3 жыл бұрын
@@MrBazBake basically, they "rent" stocks, sell them, and hope it loses value so they can buy them at a lower price to return to the "renter". imagine it like this: "BROKER A" rents 100 stocks from a group, sell those 100 stocks for 50 bucks each on the market, hoping their price will drop. 5 months later, they buy it back, now that they cost 10 bucks each. then they give those 100 coins back, with some extra to pay the rental. of course, they do it hoping the stocks price will fall. in the case of GME it did not, and they lost money because they sold them when they were around 20 bucks, and now they cost around 17,5 times that.
@MrBazBake
3 жыл бұрын
@@marcosdheleno Melvin got rekt because they overleveraged the stock 140%. A nimble hedgefund could have easily bought the stock back when they saw the spike, reloaded high when it hit 400, and when the stock dropped 240 points a couple days ago dumped it on clueless retailers in the frenzy and have covered their losses and then some. Right now shortsellers are riding the bubble Reddit created and GME shot up to the third highest shorted stock in the world. The market's a closed system, capitalists just pretend that it's not to rob you. When it snaps back, that's when you get a crash or when the bubble bursts.
@jimdotbeep
3 жыл бұрын
I appreciate Jim Sterling calling out Joe Biden.
@teacooper6485
3 жыл бұрын
Ngl, most lefty people hate him... and most liberals to be fair, they never make the changes they promise but we get stuck supporting them because they don't say openly racist and sexist shiz as much
@fearlessjoebanzai
3 жыл бұрын
@@teacooper6485 , you're kidding me right? Biden's the guy that said "poor people can be just as smart as white people", amongst other things - and don't forget that he's most proud of drafting the bill for minimum mandatory sentences...... the reason why there is a disproportionate amount of poc in the US prison system right now. JB's the worst. He's the worst by a long way.
@Nikolai064
3 жыл бұрын
@@fearlessjoebanzai He's absolutely horrible and I wish he was the worst but the choice was between an old white racist and an old white racist fascist so once again we settle for second worst because anything better than the two worst options was trampled out before it could become a third option.
@fearlessjoebanzai
3 жыл бұрын
@@Nikolai064, everyone trying to forget about Kanye? The worst of it to me is that the democrats had better alternatives in their primaries - Tulsi Gabbard being the best option. Hey, even Bernie would've been preferable, even though his double quitting made it obvious that he's just a phoney.
@stingerjohnny9951
2 жыл бұрын
@@fearlessjoebanzai even after all the shit with Bernie-boy, I’d still pick him over all the shit we were given. It’s like the system is intentionally picking the WORST people for the job on each side just to fuck with us and force us to choose.
@faralteezee4474
3 жыл бұрын
_"If Gamestop's stocks are ever worth anything, I'll gender bend."_ - Jim Sterling, at some point in time.
@Montesama314
3 жыл бұрын
The billionaires literally call low income stock traders "dumb money."
@DailyCorvid
3 жыл бұрын
Dumb money is the cause of divorced stock traders LOL
@thomaskphillips2582
3 жыл бұрын
that piece of garbage stephen colbert said dumb money
@Montesama314
3 жыл бұрын
@@thomaskphillips2582 That was from a report, not Colbert. If he mentioned it, he was probably speaking second hand.
@Wryyyong
3 жыл бұрын
@@thomaskphillips2582 the character Colbert plays on _The Colbert Report_ is just that: a character. "It should probably be noted that Stephen Colbert, the fake news anchor, was, in fact, a character that Stephen Colbert, professional comedian, played. He did not believe the views he espoused on the show, and has referred to the character as "a well-meaning, poorly informed, high-status idiot."" tvtropes.org/pmwiki/pmwiki.php/Series/TheColbertReport
@pyrrhicvictory5844
3 жыл бұрын
"Nothing is true, everything is permitted." Don't know why, but this seemed appropriate
@Mansovile
3 жыл бұрын
immanentize the capital eschaton
@TheArtist808
3 жыл бұрын
The elite: oh noes we might not get the 3rd yacht Everyone else: tough tits Finance industry: bail... I mean stop transactions
@Drachnon
3 жыл бұрын
So here's the thing about short-selling that I learned during a short course on investing organized by my town for amateur investors. Given by a guy who professionally oversees investments for a pension fund. Short-selling is a financial tool that's useful for big financial organizations to limit risk. If a big fund has 30% in short-sold stock and the market cashes by 40% then instead of losing almost half of their investment they instead lost 28% (still bad but it can make a big difference) the flip side is that if the market is booming your short-sold stock is costing you money, but not as much as your other stocks are making. Now the important part, he also told us never to try and make quick money with short-selling. Because with an investment the worst possible outcome is that you lose 100% of your money. With short-selling you can lose much more. Like in this case where the hedgefunds who short-sold gamestop for over 100% of available stock. With that ratio of short-selling any hike in price will have a highly amplified consequences which is what resulted in the value going through the roof because reddit users had a lot of stock in hands that they weren't selling while hedgefunds had to effectively buy stocks to get out of their short positions, amplifying the supply vs demand of the stock. As the price rose by 1500+% which means that hedgefunds who shorted it lost 1500% of their initial investment. Which is why you should never try shorting stocks as a ways to make a quick buck. So yeah what these hedgefunds was basically gambling and really shitty to do but its also not the real purpose of short-selling stock.
@kdefinition
3 жыл бұрын
And TNT started as simply yellow dye. Something's intended use doesn't matter much when it's practical use is primarily destroying lives. And who cares big financial firms have yet another tool to "mitigate risk?" They're rich! That's all the risk mitigation they need.
@sipsake
3 жыл бұрын
Jim, I'm lovin' you more with each passing week. Keep doing you!
@mylabot
3 жыл бұрын
I'm dying, the red is just so perfect on them.
@celestia849
3 жыл бұрын
I really want to know what kind of lipstick they got. The shade looks so good
@lunarbeing4982
3 жыл бұрын
I could've sworn they always worn red lipstick lol
@oniinu
3 жыл бұрын
@@lunarbeing4982 they did! then switched
@ManyMonstersMedia
3 жыл бұрын
Honestly the first time I saw them wear lipstick I knew I was in the right timeline 🙌🏾💖
@vulpixluver
3 жыл бұрын
That's what I've been saying! I hated the pink on them! I swore up and down it washed them out and made them look pasty. I'm so glad they went back to red. I just complements them
@maxmaier7023
3 жыл бұрын
I have been dying to hear your thoughts on this, finally, everything is right with the world
@robertwinslade3104
3 жыл бұрын
Well... everything is wrong with the world, but atleast now way more people are aware of that fact 😅
@notsm
3 жыл бұрын
Me too man, me too. The moment I heard of the whole thing I have waited for Jim to give his rant about it. It's all I hoped it to be and more.
@cythetyx
3 жыл бұрын
me too
@xanderellem3646
3 жыл бұрын
No, everything is wrong with the world, that was the point of the video, did you watch it?
@AJ-xv7oh
3 жыл бұрын
It will be forgotten next week and the stockbrokers will go back to laughing at you whilst you do absolutely nothing about it.
@dwjim6186
3 жыл бұрын
SEEING SMILE AND LAUGH AS YOUSELF IS SO WONDERFUL BEAUTIFULLLLL AND CUUTTE
@philipschorr5145
3 жыл бұрын
I hate that the "they figure they're only gambling with their futures, so they figure there's nothing to lose anyway." thing has actually come true. This kinda stonks move giving what I'm now calling "selfish, dumb money" a taste of what those lamprey have done to us is LONG overdue!
@ince55ant
3 жыл бұрын
i think this pandemic is helping people come out as trans. not having to be around arse-holes is at least some solace in these trying times
@FranNyan
3 жыл бұрын
I think a big part of it is that when you're in lockdown and all you have is yourself, you finally start to notice things that you were only doing because of other people. A year of not having to put on a false face can help a lot of people find their real selves and/or not want to put that false face back on again. One of the few upsides to this whole ordeal.
@teehundeart
3 жыл бұрын
@@FranNyan so my true self is being a lazy fuck who enjoys video games and coffee way too much?
@Call-me-Al
3 жыл бұрын
@@teehundeart welcome to the team
@FranNyan
3 жыл бұрын
@@teehundeart Quite likely! And ain't nothing wrong with that.
@MarquisdeL3
3 жыл бұрын
It's also a good time to experiment with your appearance without having to deal with what other people think. As a low stakes example, I have several friends who have tried out very different hair styles or dyed their hair dramatic colors that they would never have tried before because of their jobs.
@connormccutcheon8570
3 жыл бұрын
We support you, Jim Sterling. Thank you for years of service and dedication. ❤️
@RoyalFusilier
3 жыл бұрын
Broke: This is an attack on rich people! Woke: Yeah, that's the point. Bespoke: Consider why it's very likely that a bunch of redditors having a laugh were able to do far deeper damage to the stock market than Occupy Wall Street could. I'm not sure myself, but it might indicate an important lesson going forward.
@ej5677
3 жыл бұрын
I’ll have a crack at answering that. 1 - because it showed people how capitalism exists to serve the rich and powerful alone. Hence, why they acted so quickly to preserve hedge fund managers’ wealth and froze everyone else out. Despite no rules having been breached. 2 - it openly displayed how quickly those in power could act with regards to issues regarding money (stimulus checks, social welfare, tackling poverty and inequality etc.) 3 - The Occupy movement was in many ways symbolic and, as a result, easy for those in power to ignore. We saw people working on Wall Street openly laughing and drinking champagne while people marched through the streets. This time around, the money was targeted, and so it was seen as a real threat.
@redherronrecords
3 жыл бұрын
Bruh... they wouldn't let us take back their ill gotten gains by force in 2010/11, and now they won't let us take them back even if playing by the rules of their rigged bullcrap in 2021. Moral of the story: the richest people on this planet are whiny pussies at ALL times.
@KaiserMattTygore927
3 жыл бұрын
I like how this is basically 10 years after Occupy maybe in the next decade the rich will be living in the streets :)
@MrBazBake
3 жыл бұрын
@@redherronrecords The idea of us taking power from Wall Street by competing against Wall Street using rules set down by Wall Street with less money, time, and experience than them was a joke. The only people who win when you play by those rules are the people who set the board and the people who know how naive a bunch of people who have never tried will be and how easily they can be duped into making some guys on Reddit rich.
@DarksiderDarmoset
3 жыл бұрын
Peaceful protest doesn't work. Reddit hit them where it hurt.
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