The Free Market Isn't Free | The GameStop Saga Explained
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- เผยแพร่เมื่อ 4 ก.พ. 2021
- By popular demand, here's my take on the GameStop/Reddit/Robinhood stock market debacle. In this episode, we take a look at the strange and deeply funny spectacle of a bunch of normal people tanking a hedge fund, but more importantly, we analyze what the subsequent crackdown shows us about the "free market."
The Free Market Isn't Free | The GameStop Saga Explained - Second Thought
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This is a perfect example of an old idea:
"For people who have always benefited from privilege, real equality feels like oppression."
Just look at the white men reeing, becoming fascists and wanting a white nation state because other people are being oppressed slightly less than they used to be. That's how deep the patriarchy runs. Affirmative action turns white men into literal white supremacists.
its also the reason why the rich fear socialism/communism.
@@chana7276 xenophobia is a built-in distraction against the real problems, blame gay people, trans people, women, black people, native people, any people slightly different than the majority, and you divert attention away from your corrupt system, it's genius, really.
this quote perfectly explains antisocialists
damn that quote hits hard. Love it.
Capitalists: "The economy is driven by competition."
Average Joe: "Here's some competition."
Capitalists: "No, stop! I'm telling the government!"
Seriously lol
@John Spöner joe mama
Wall Street and Hedge Funds back some strong friends in Government and MSMs so I wasn't surprised when I saw how they used there legal bribes for protection, while the true average person wanting to test their capital where suddenly blocked by the blockers that supported Wall Street and Hedge Funds.
By buying stocks you became yourself a capitalist...
@@fifsousa You didn't even bother to looked at the video.
"You're poor because you make bad decisions. Maybe if you invested smartly you'd do better."
...
"Wait no stop"
"They're too sentient!"
"When I said smartly I meant spend money that went to us indirectly, not money that will eventually cost us!!!!!"
@@tony-te7gd 22.
@@raulchavez6933 22 indeed.
Good thing public education is federally funded, clearly they tell us everything we need to know. 🙃
The problem with America is: Too many people still oppose any change to the Capitalist system, because they were indoctrinated for years that change means Communism and that that's bad. But many changes just help protecting normal people from being exploited by the big companies, authorities and other people/institutions in power that are in position to take advantage of vulnerable people.
But it's their source of revenue - exploiting people. It's how both government and corporations work - worker gets paid much less, than they should, if you measure their efforts by their results.
Market was supposed to be self-balancing system, but in reality you always need to have someone to prevent monopolies from forming, as monopoly on necessities is highest form of capitalism.
The problem with America is that millions of "normal people" are being exploited by "big companies" that they willingly give money to. All day, every day. VOTE WITH YOUR MONEY.
Red scare and McCarthyism still live strong today
imagine when they discover that they can live in a country that values its inhabitants and remains a capitalist, like the Netherlands.
All the people talking about capitalism are taking excerpts which suit their own talking points. Adam Smith in his own writing would not defend what The US calls capitalism. The role of the state is to empower the public. If government cared about voters they would have sided with the Robin Hood investors. Clearly one side has a larger number of votes.
Billionaires: it’s a free market for everyone! Everyone can be rich!
People: invest and become rich
Billionaires: Kirby has found your sin unforgivable
Kirby would never side with capitalists!!!
@@TheHiddenChest Kirby uses *seize the means of production*
Wall Street uses *PragerU shit*
Kirby counters with *eat the rich*
@@TheHiddenChest corporatists**^ what happened wasn’t capitalism lol
@@SM-xo4ln Corporatists and Capitalists are pretty much the same thing, either way this stock thing is EXTREMELY capitalist
@@TheHiddenChest they really aren’t. Capitalism should be corporations that don’t have affiliation with the gov but are simply regulated and kept in check. Corporatism is when the companies are the government. We need to get rid of lobbying and clean up america
"You let one ant stand up to us, then they all might stand up! Those puny little ants outnumber us a hundred to one and if they ever figure that out there goes our way of life! It's not about food, it's about keeping those ants in line."
- A Bug's Life
I remember that film!
Holy shit, as a kid I never realized how serius that movie's topic was
It's gotta be one of the best PIXAR movies out there.
It is a bug eat bug world.
Nice this is getting sourced in my next paper
this actually reminds me of something from the movie Coraline.
“We are small but we are many
We are many we are small
We were here before you rose
We will be here when you fall.”
pretty much saying what the ants in a Bug's Life realized, and what real life people should...
When we give money to the poor it's called a "Handout." When we give money to the rich ie. banks, businesses and corporations it's called a "Bailout."
No, giving money to the rich is called 'incentive'!
@@Red-gw6kz No no no... When you gibb money to the poor, you are introducing laziness and obstructing the fReE MaRkEt! When you gibb money to the rich, its an incentive. They will definitely not keep all that money to themselves without investing. Corporations and Banks habb a problem? the govt unfreezes credit by pumping trillions and buying non performing stocks. Poor and average people have a problem? Muh they are just lazy and have to work harder.
@@harshithsubramaniam5924 Hello Harish, frankly speaking I am not absolutely sure if you are supporting my point, which - by the way - was against governments bailing out (rich) capitalists with public (i.e., our) money and calling it by some jazzy name such as incentive, or ridiculing it. I am assuming, from the fact that you are watching this video and also from way you have spelt free market, with a jumble of upper and lower class letters, that it is the former. However, if it is the latter, then I feel constrained to point out that I have nothing against the public sector. I sincerely believe that a healthy private sector is beneficial for the country as long as (1) it is kept out of sectors such as education and health, where the profit seeking motive may cause more harm than good, and (2) if it keeps it does not stretch its profit seeking to absurd levels, even in other sectors of the economy. In other words, do not put profits before people, think of all stakeholders and not just shareholders, and invest as much of your profit back into the economy as you can to create more jobs and generate greater economic activity rather than just profits. As long as the private sector (or capitalists or bourgeoisie or whatever other name you assign to them) adheres to these fundamental principles, I have no issue with them.
@@harshithsubramaniam5924 Apologies, I got yor name wrong in my earlier comment!
Subsidy
After watching this, my desire to overthrow the government has gone up by like,, a lot
that's agitprop for you, comrade. join us, the working class, as we grow our class consciousness and help others realize that those in power do not have our best interests at heart.
(oh and watch ThoughtSlime, he's funny and cool and good)
I like social democracy
I think you missed the point by a bit. It's not really the government, but the wealthy.
@@passingshadow8934 they lie in the same bed. Don’t get me wrong, I’m happy I’m here but cmon.
@@passingshadow8934 Potato potahto.
Rich people: You're poor? Just invest in the stock market
Everyone else: ok
Rich people: Wait no you can't do that!
I saw a comment somewhere saying "Why don't you learn to code?" in the direction of investors who lost vast amounts of money in this Game Stop debacle.
@@camelopardalis84 Ngl that's based
@@eternalblue4660 I wished I remebered where I saw that basedness. Basesicity.
buying GME is not an investment.
@@edwardm2903 it is you are investing.
I naturally raise my eyebrows at any job where money is exchanged but no goods and services are produced.
And the worst thing. Those are the jobs that earn the most.
For real, stocks that pay no dividends have no intrinsic value.
Great point.
Yes. This all Financial market stuff is just numbers on a screen they mean nothing and it's a fake economy.
Is this not a pyramid scheme?
Hedge funds be like "you dare use my own spells against me, Potter"
🤣
They make bad medicine that they themselves do not want to take.
Now this is something that would be more understandable to have stormed the capitol over.
My very first comment about the January 6 insurrection was, if they were actually serious about taking their country back they'd have stormed Wall Street, not the Capitol.
@@syzygy21055 nah, if they stormed wall street the police would actually do something (*cough* occupy wall street)
@@syzygy21055 But this kind of thing is art of the reason. It is part of the same unrest
@@Ne-u333 I believe that is the original reason for the second amendment, the right to bear arms. If they won't get rid of gub laws let's just use it against them
when the rich babies start crying is when everyone starts caring.
What about us billionaires who never had to lift a finger for anything in life?
Which is why the protests turned into riots before they gave a fuck...
@Chris Ramos let's be fair, not many people probably knew about this whole thing before politicians and the media started caring...
There are two classes, the working class and the parasites.
The chance of any billionaire on earth not being a parasite is 1 in 7.5 trillion aka impossible
Capitalists:"just invest in the stock market lmao"
Proletariat:"alright"
Capitalists: *reeeeeeeee*
Hey I get what you're going for but could you not do that? Like, straight up that's literally called 'autistic screeching' so it's kinda fucked up.
@@Oldage429 alt-right /s jk don't kill me pls
@@Oldage429 You're the one who called it autistic screeching, no one else said autistic screeching.
@@Oldage429 in that case reeeeeeeeee
(I have autism that is the joke)
@@Oldage429 i think "reee" is nowadays greater than that.
I think the most infuriating thing about this whole thing is how quick the response time was for this, as opposed to, say, responding to a global pandemic which was already known could be fairly lethal.
Really shows you exactly how much a life is worth to the owner class if it isn't their own.
Rolled it out after half a week, but COVID took months just to close a few airlines
“None are more hopelessly enslaved than those who falsely believe they are free” - Goethe
Americans gave been drinking the kool-aid and chasing the imaginary carrot for so long they are completely oblivious to how they're being manipulated. They are truly living in the Matrix created by the ruling elites.
"The wealth of the wealthy is a direct result of the poverty of the poor." Great quote, and very true.
For every dollar someone gets but didn't earn, someone else earns a dollar they didn't get.
@TH-cam Censors Taking an aggregate look at the financial system, a dollar going to the wealthy is a dollar not going to the poor.
Not true about every aspect of capitalism but in this instance, very true
That's not true the wealthy in a true free market economy can only become wealthy by offering a product or a service that people are willing to pay for, capitalism is the only economic system in which the poor became wealthier, unlike feudalism and socialism where you had to suck up to the lord or commiseur to be dished out special favors and by impoverishing others.
@@kimutaironoh243 yup, couldn't have said that better myself
One thing I learned after moving to the US. So many people love "freedom", and think "freedom" (in a capitalistic sense) is the ultimate justice. But yeah, as this video says, "freedom" isn't necessarily "free" or "fair"...
@David Reads this idea of "freedom" isn't even free so you don't have that going for you
I mean whenever I use that freedom of speech I'm called a communist bot so yeah not surprised.
@@phoenixbyrd79 Can you please explain how this is socialist propaganda? What does he say that is wrong or disingenuous?
@@phoenixbyrd79 anything that I dont like is socialist propaganda.
@@phoenixbyrd79 I'm sorry, doesn't explain how the so called free market isn't free? It points out a method used to manipulate the market used by rich people, that when others who are not in the same position try and capitalise on they are stopped..... I don't know what to call it but free definitely isn't a part of it
Always remember the Golden Rule, he who has the gold makes the rule.
Yet he who does the labour makes the gold.
So why do you want to share all this wonderful treasure with me?
I need the young pair of legs and strong back to pull it off.
But there’s one problem. It’s out there, we’re in here.
Things aren’t always as they seem. So do we have a deal?
Who disturbs my slumber?
It is I, Aladdin
Proceed. Touch nothing but the LAMP!
Perfect.
@@tony-te7gd Sadly, the Gold is taken by the capitalists that has a paper proclaiming the mine as their property.
"The rich Rob from the poor, and the poor Rob from each other" -Harriet Tubman
People: I can finally pay my medical bills!
The Wealthy: Yeah, but you're doing that with money I wasn't going to spend and it needs to stop.
"Money in my pockets is good. Money circulating between people to benefit them all is bad because people should suffer and pay me and shut the fuck up"
@@tony-te7gd Whoever said that could win a contest for World's Most Selfish Person because they sound more self-centered than Liz Feeble for saying something so...unfiltered.
@@adamkalb1nah man a ceo unironically said we need higher employment, we need more people to starve.
some have even said that they’ll wait out the unions going on strike until the workers go homeless.
The Rich: You should be ashamed of yourself for manipulating the market I manipulate.
Chancellor Palpatine: "Ironic."
😂😂
Tru
They didn't manipulate it in the GameStop/Robinhood saga.
"It's a big club... and you ain't in it!"
- George Carlin
Amen to the man
And you never will be in it.
Still shocked this channel hasn’t been deleted.
It wouldn't silence it probably. And it would only prove its points even more
Now, it's only demonetized, wait and see, when they grow strong enough to make a difference, this channel will definitely be suspended, in the end, big corporations owns everything.
@@4191682 hopefully second thought starts uploading all his videos to some more neutral platform soon, so that if he gets suspended they will still be there
@@tony-te7gd nebula
@@SCP--rj8hm that's paid though isn't it?
Billionaires: *if you invest you'll be just like me*
People invest
Billionaires: *nO*
"Hate the game, not the player"
Billionaires: *🧐 No*
What’s happening now is that the poor that fell for the hype are losing their money and the rich are making money of this situation, why is everyone acting like this is still working?
"You weren't supposed to do that"
@@callumg3330 then what will?
@@whynotsa6866 what do you mean?
Oh man, that one guy who was like, "Why are you spending all your time looking at Robinhood? You should go out and get a girlfriend instead! That's the real tragedy here, all these poor regular people sitting inside looking at stocks when they should be going out on dates." Like... wtf???
"Go outside?! Sorry to burst your bubble mr. Toomuchmoney, but if you haven't noticed: THERE IS A PANDEMIC GOING ON!"
- Me
What if both they and their girlfriends hate you and wanna bet against you on the stock markets? What would be your excuse Mr Ultrarich?
@@mikkelwulff5639 Mr. Fatcat doesn't get why everyone else doesn't have a private 50-acre mansion residence or exclusive island to run off to and frolick around during a pandemic
During a Godamn pandemic too
He's basically like "too bad, we're building a gate to keep you out, you pleb. We were never inclusive to begin with and we'll keep dangling that carrot in front of you until you're bankrupt and just a pile of rubble with the rest of 'your' disgusting kind."
The American dream, you have to be asleep to believe it - George Carlin
Thank you for having the balls to tell it like it is. It is very refreshing. I've been trying to wake people up, but too many people are completely brainwashed and indoctrinated. Once fooled its almost impossible to convince them that they've been fooled. So many prefer a comfortable lie than an uncomfortable truth. I'm subscribed to the channel. Many more people need to see this. Please keep up the good work. Thank you.
What a bunch of sore losing crybabies. The money they lost won't even have an effect on their day to day lives and there they are complaining
They don't care about the money
They just hate watching average Joes succeeding in life
@@thedudecalledalan9095 well yeah, how would they feel better than us if they didn’t have more cash?
Thats the thing...yes for a small hedge fund with limited funding this would be a disaster for everyone. Melvin, Citadel,etc aren't breaking a sweat and already got bailed out by Robinhood instantly. They are simply triggered that the little guy beat them at their own game
@@thedudecalledalan9095 ah yes everyone buying @ 250 and then going to 60, true success, not like 90 percent of the gains were made by other hedgefunds.
The 1% don't want the masses gaining momentum because the masses can actually shaken their ground if we really work together. But the elites have a lot tricks to separate the masses.
“You need to stop staring at your screens and do something that matters.” Wallstreeters stare at the market all day making money that doesn’t even make a difference in their life at this point.
that seemed like a weird thing to say, but i listened to a podcast with him (scott galloaway) once and i think he hates ego of capitalists in general. i think he doesn't want the working class to become as evil as the owning class. we don't want that either but i appreciate this 'be like water' approach of these redditors. using the rich own strengths against them works as long as there is solidarity
I think it’s projection. Dude felt guilty about wasting most of his life in front of a screen (pulling some of the cash out of the economy) and not helping his family/ community.
They don't even have to do shit anymore it's all algorithms, they're just there so make some phonecalls
Strange... They are busy convincing people to play their game as lon as they are confident in winning, then one time they lose they try to shame others for playing.
th-cam.com/video/MPX71DSrhFw/w-d-xo.html
"the wealth of the wealthy is a direct result of the poverty of the poor."
Damn that's smooth.
It is important that the Gamestop/Robinhood incident will be documented VERY well.
I studied finance and the basic function of the stock market is 'supposed' to be allocating money to grow profitable businesses and create new ones. Now it has literally become rich people making riskier and riskier bets with each other, and when they lose those bets they ask the tax payers to cover their losses. Capitalism is fundamentally broken, but the US is an absurd mockery of even the positive aspects of it.
there's no such thing as a risky bet when you have legislators in your pocket who can decide your bets cannot be risky
Your wrong, capitalism has raised the standard of living for everyone, more so than any other system. More people have moved out of poverty since 2000 than any period in human history. Humans are flawed and some make bad decisions. A truly free society requires people to be individually responsible to carry the moral fortitude to do the right thing. That burden is to much for some people. Today more and more people are failing to do that and are giving up are freedoms in exchange for the government to look after them. Soon we wont have any option left.
Hey, guess when capitalism in america did lift a large group of people up financially...that would have been in the 1950s. You know what else happened then ? Earnings above $100,000 a year got taxed at roughly 80% to 90%. Seems like they were doing the "right thing" then with great results...why not now ?!
@@googlesucks7082 if an economic system doesn't work for billions of people in poverty and requires them to have not made the decisions they did, and 'more and more people' are failing to do that, then the system doesn't fundamentally work.
you're basically telling me capitalism only works so long as a majority of humanity is fundamentally different from how it is. people make decisions as a response to their environment, and if they are suffering, it means that the modes of guidance and organization are failing - or that the -intent- is that they suffer
If you did study finance, you should also know that most of the people who followed the craze lost money and that they should never have tried.
Again, socialism for the rich, garbage capitalism for everyone else.
Aka just capitalism
I wouldn't have issue with capitalism if it worked as intended and stated it should work... but much like video games people just love finding and abusing exploits except these don't get corrected unless a fucking miracle happens or its at the barrel of a gun and theirs graves being dug. People keep saying it can happen peacefully hahaha not in any expedient sense anyways. Less you'll br happy when it comes in 5555 when everyones dead.
@@angeliparraguirre7329 thanks i guess
@@dossiebigham6916 Capitalism DOES work as intended. The rich people got together, stole all the free resources nature provides, and force the common man to either die or slave away. That's it. There has never been a "work your way up" capitalism or a "best solutions for the market" capitalism, those are capitalist lies they tell us so we blame ourselves instead of them.
@@dossiebigham6916 the working class creating vast amounts of wealth for a small owner class who just soaks it in is exactly how capitalism works, this is not a bug it's a feature.
"Socialism for the rich, Capitalism for the poor"
Gerald Celente
"I've seen these ants do great things, and year after year they somehow manage to pick food for themselves *and* you. So who is the weaker species? Ants don't serve grasshoppers! It's *you* who need *us*! We're a lot stronger than you say we are... And you know it, don't you?"
This scene from bug's life has always resonated with me. They know how powerful we actually are, we just need to believe in ourselves and rise up.
They know it too - that's why they spend so much time, effort and money turning us against each other.
That guy on the news was literally saying, "Go back to sleep." Wow
He was insulting them too "stop being socially awkward, unloved, fat losers, and don't you dare try to make money like we do"
"just ignore the stock market, close your eyes and go back to your shitty life, please! We all know you don't exercise enough anyways"
Damn is this really what those degenerates said?
@@ChineduOpara I did watch the video but I don't think I catched what they said.
@@ChineduOpara Yea it's definitely a re-watch especially when I'm new to learning about economics let alone the stock market.
More than triggered I'm actually glad to see these rich people show their true colors because now people will most likely complain less and argue for these people.
I remember that a billionaire cried because in his words “poor people were becoming rich”
Bruh.
@@AxxLAfriku nobody cares!
Also “YoUTUbE mEgAsTaR” while having 29k subs yeah you don’t even have a silver play button
If your ego was converted to subscribers count you would have more subscribers than mr beast
@@AxxLAfriku How old are you? for real
Leon cooperman?
@@raiyanalghamdi1489 look at his channel, i'm pretty sure he's just making a bad joke ^^
@@insomnia2869 it's a spam bot. You see similar things everywhere these days
This is exactly the senario when the kid who makes a game changes the rules when he loses
Serfdom is sadly alive and well in the modern era.
“That’s why they call it the American dream, because you have to be asleep to believe it” -George Carlin
This is getting overused quickly
@@henrycrabs3497 If it fits the context that is not an overuse.
@@henrycrabs3497 I was going to say the same, and its true that overuse of a quote can dilute its its impact, but the said thing is that the quote works so well, so often
@Ariel Sasson but I guess Americans are mentally allergic to Socialism
"Why is this same exact comment on every single video?"
-Abraham Lincoln
The enemy is not your white, black, yellow or red brother or sister. Know who the real enemies are.
THIS. THISSSSSS!!!
Stop fucking fighting against each other! The funniest thing about the middle class and working class is how they fight between each other to BE the primary subservient
The fact that 'culture war' and 'race war' take up such a huge part of modern discourse is literally a divide-and-conquer strategy by the owner class.
Almost every big news source that push these topics despite the ONGOING PLAGUE and subsequent poverty and eviction crisis are funded by the owner class.
The owner class NEEDS you to focus on anything other than them, because it's only through keeping us afraid, anxious, stressed, tired and not talking to one another that they can keep their power over us.
Eat the rich!
Divide and conquer
@Ryan Alex I'm a bit sad for you, especially if you're American
Hopefully you're jk...
The enemy is green
Don't be ridiculous! Of course the free market is free!
Free of regulation.
Free of responsibility.
Free of conscious.
Free of fairness.
Me, a year later, sighing nostalgically when it was ONLY half a million people they sacrificed on the altar of capital.
I'm a Hispanic, suburban, single mother of 4. I am a tax preparer and have a conformable life, but I am sick of the status quo.
I love your videos and that's why I support you on patreon. I've seen you talk more and more about how there's an urgent need for us, the 99% to organize. But I don't know how or where. There are so many that just change sides once they gain a bit of power, it's disheartening.
It'd be awsome if you can highlight people doing this right so more of us can join!
For every person that changes sides there are thousands struggling.
you're not alone, same boat
I would like to organize too, I feel like voting is not enough.
-Form mutual aid unions.
-join or create co-operatives in construction, farming, food distribution etc.
- community credit Unions
- if you pay rent join or form a tenants union.
Worker cooperatives.
Could happen fairly easily with a few laws. Before a company’s owner shuts a business or sell out to a competitor a reasonable offer should be made to the company’s employees. Who better to run the company than the people who were hired to run the company?
I can hear people reading their "Basic Economics " to explain why the stock market is vital to the progress of humanity while simultaneously leading to a chrysis every 10 years
bAsIc eCoNoMiCs
@@skullthunder3181 i love how capitalists or socdems think that Marx and all the marxists after him aren't a true economics school just because they don't praise capitalism
crisis*
@@Marzsala not really, many people just think marxists don't know economics and need to inform themselves. Of course I don't generalize, but many times that's the answer I get. That or "well you wouldn't like living in the USSR wouldn't you mate?" like that's what all marxists look up to as a successful implementation of communism
@@Marzsala then you you should research demsoc
Guess what? The lawsuit that was filed against Robin Hood was dismissed.
LAND OF THE FREE BABY🇺🇲🦅💥
I started to actually tear up when I heard that after normal people started doing what the rich do all the time the normal people got shut down. I’m fed up with the wealthy in this country. I was pissed at the U.S and still am at times for allowing it to happen, but I realized I’m mostly pissed at the predatory wealthy class. We need Socialism. I love that in this video it shows that every day average Joe and Janes did GOOD things with their money. They just never make it into office because the system is rigged. We need that Rank Choice voting system and obviously the dissolution of the electoral college.
Seeing this channel go from a random science facts channel to a nonpartisan marxist class consciousness project is truly a special thing
yeah because it went from bad science to pure uninformed and dishonest propaganda
@@namenloss730 Can you refute any of his claims tho? His comments on how the billionaires crashed the economy in 2008, reaped the benefits and saw no just recourse for their actions?
@@thekingoffailure9967 I did, multiple times:
Lying about the lack of political reaction, the cherrypicking of the little guys "winning" in spite of an overwhelming number losing, a lack of understanding of the stock market since he doesn't knwo the difference between trading and investing, etc...
And he lies in every single video pretty much, before going on the main "argument": capitalism bad because made up capitalist boogie man
I never mentioned the 2008 crash because that is true, in a more complicated way than he cares to explain.
@@namenloss730 do you have any other source that explains the Robinhood/GameStop issue in a more objective/fact based way?
@@tektauron I have a very good one in french that is entirely free of ideological or political BS.
But many trader channels have talked about the facts of this GME thing probably being a grift by some prime movers who made shitloads of money.
More people need to see this. What a dystopian world we live in today.
no, this is propaganda from someone who doesn't know a thing about the situation.
He lied a bunch of times and misconstrued things, his take is flaming garbage
It started out good but very quickly became classist and emotional
@@AK-pz1xz It didn't start good, the intro of the video is full of factual errors and lies...
@@namenloss730 Yeah.... Kinda sad seeing the likes to dislikes. So many "eat the rich" types in the comments
@@AK-pz1xz Yeah, I really hate second thought, his content is super popular in spite of him being a zero information compulsively lying propagandist...
Don't be surprised by the number of "eat the rich people" here, he is one of them, and has called for violence multiple times already.
His entire thing is "capitalism bad! Because the capitalists and landlords are greedy!" and he doesn't even seem to understand any of the notions he "explains".
In this video alone:
He lied about the absence of political reaction, a bunch of them from the entire spectrum reacted on the side of the little guy.
He gives the example of the few people who made money but forgets to mention the tens of thousands or more people who lost everything because trading is gambling if you don't know what you're doing.
He forgets to mention the hedgefunds that got burnt have mostly recovered and others made a shitload of money.
He doesn't understand/misrepresents the timeline of the events.
He talks about "hoarding wealth" because it's a cute buzzword they love, but it's entirely meaningless because he doesn't understand it.
And he is one of the idiots who think attacking wallstreet by wallstreet rules on wallstreet turf with wallstreet means and no preparation is a good idea.
This fills me with so much anger, this system is awful, with horrible people at the top
I'd been subscribed to this channel for a long time and it makes very good points. Only up until I lost half of my saving in the GME scam is it that I now fully understand what this channel has been truly about all this time. Not equalizing society but rather providing equal opportunities to everyone.
"It's not about the money, it's about sending a message."
“Their morals, their code; it's a bad joke. Dropped at the first sign of trouble. They're only as good as the world allows them to be. You'll see- I'll show you. When the chips are down these, uh, civilized people? They'll eat each other. See I'm not a monster, I'm just ahead of the curve.” - average redditor -
This 💯
My worry is what message was sent? The stock has fallen back to $50, Melvin lost money but survived. I feel the message sent was "we can hurt you -- but not all that much"
@@danielnarevich7579 That's fair but a little pessimistic. I offer another alternative:
_"You aren't untouchable. You can throw all those punches at us, but never forget that we can also hit back"_
@@danielnarevich7579 No matter how good the fairytales sound
In the end the ones who got the cash are the ones who win
“A society becomes totalitarian when the ruling class has lost its function but succeeds in clinging to power though force or fraud” - George Orwell
"I just farted" - George Orwell
@@yonyosef Ah, the words of a true visionary.
@Riley Dwyer what about gay jewish anarcho-communists?
@Riley Dwyer doesn't mean he was wrong about those in power
Citing a paedophile and a plagiarist, daring today, eh?
You know Second Thought is really blacklisted when there aren't even ads in the video.
Idk if this is a quote I heard somewhere or if I really did make this one, but "The only freedom the free market gives you, is freedom for the first few take as much control as they're willing to"
"Money makes money, and the money that money makes, makes more money."
Compound interest
And this is just fundamental to capitalism. We create all the value, and they reap it all by creating no value.
@@1tropik And how does getting to work will accomplish that when the income one gets is barely enough to support their life?
Or are you suggesting people start living in shanty towns and eating rats for a few decades while saving every penny so they can invest in their 60s?
Capitalism is broken, primitive and incompatible with current day logistical conditions.
@@fl00fydragon we could just pool money together as a large group and buy assets.
@@StormCoderWorld
In that case it would be better to use the amassed money to build a non-capitalist logistics based such as setting up an urban aquaponic farm in a repurposed abandoned building that runs as a co-op or a community driven project.
Same could go with small scale/regional manifacturing that utilize newer technologies to bypass barreirs of entry in manifacturing
Basically instead of investing in assets such collective moves would be better used to create parrallel power structures that could permanently make parts of capitalism non sustainable until the system's replacement becomes inevitable.
However this should also be paired with a legal battle people should get into to undo one of the most harmful practices of capitalism: abolishment of patents.
I have always loved American hypocrisy!
"Just invest but when you do that you're not allowed to make money"
"We are the bastion of democracy but undermine the results of democratic elections"
"Our government is free and fair and controlled by the big companies"
Et cetera, et cetera...
This is more dangerous than Oceania in 1984 book.
@@primeroyal7434
With all due respect, mate, the fact that we as a people can have such widespread notions of rebellion at all means that it's not as bad or as dangerous as 1984.
@@festethephule7553 I am talking about the widespread hypocrisy of American exceptionalism.
"we export freedom to world by opressing the countries we're freeing"
@@saberline152 People would rather fancy themselves with delusions and idealism than see the actual world.
"Wait, the stock market is a joke?"
"Always has been." *gunshot
I want someone to make a visual for this.. Bodies piling up in a mountain in 2020 while the rich sip on champagne, and then doing everything they can to stop normal people from playing their own game
A turtle doesn't approve of billionaires
🤔 same name and comment on other clips. Love the dedication
I need to seek out videos I highly disagree with and look for your comments to see what you're _really_ about.
Me neither.
still following me everywhere I go I see...
Hey look, a 🐢.
Wall street investors: "just invest in stock"
Working class: "ok"
Wall street investors: "on second thought"
Good wordplay, have a like.
@@Pan0108 I don't get it. Care to explain?
@@44remingtonmagnum53 lots of economists were saying “if only workers would invest in the market, then everyone could be rich, poverty is totally voluntary. We need no regulations”
Then the same people said
“Robin Hood is letting people buy stock in ways that makes us lose money to the working class! We need regulations immediately!!!!”
Literally.
*"BAD, PEASANTS!"*
*- The Elites*
*"THE BEAUTIFUL PEOPLE...THE BEAUTIFUL PEOPLE...*
*IT'S ALL RELATIVE TO THE SIZE OF YOUR STEEPLE"*
*- Marilyn Manson*
I got a Robinhood ad on this video. Capitalists really have no self-awareness.
Its so funny how our whole system is set up to benefit the rich. And really everything that could change that only a bit is illegal. To like this system you have to be rich or consumed by the thought you could be rich yourself one day.
The saddest thing is that the "thinking you could be rich yourself" scam is working.
In most of the places you cannot even sleep in your car. Literally. You either own a home you pay taxes on or rent one. If you don't then you are basically a criminal.
And I am not joking with you. Living on the streets IS a crime in hungary. It has been for a couple years now. The police is literally to fine the homeless.
@@markkocsicska2590 Same thing in most countries, especially horrible in the USA. Fine the homeless, yeah that'll surely encourage them to not be homeless again! How do they plan to collect the fine from someone who has nothing. They are homeless for a reason after all.
This is exactly it. The game is rigged to work infinitely better for the rich, and if you, a normal person, play by the rules, it will never change. The rules and laws are set in place to make sure that it NEVER changes. This is why the whole "vote to change it" will never work, they've already accounted for that by BUYING off both sides of the same coin and having laws and litigation set in place to make sure they stay rich while we stay poor. Let me repeat that, the working class will never EVER change anything by playing by the rules of neoliberalism and capitalism.
@@user-gz4ve8mw9l The aim is not to help or rehabilitate them. Quite the opposite. The goal is punish whoever is in a bad situation. To make an example out of them. Make their life a living hell and keep them there. Not only that but make it quite visual! So that the others will look and think twice about not showing up to any workplace they have regardless how little they earn or how degrading it is. They will not strike not to loose that little they are let to have. Only so they can avoid getting into a worse situation that is, just like their current life impossible to get ahead from.
it's old and clichéd and all that but, "eat the rich" does sound more and more reasonable in these trying times...
We'll if we all get hungry enough. They're kinda pushing us there.
Fuck the meat I just want to kill them for the fun of it. Chairman Mao style.
I mean, we're not there yet, but after this Gamestop debacle I sure enjoy drinking their tears.
Indeed
6:16-6:48
TL;DW
"Surely you'd much rather be working for our corporate interests than against our interests?"
"They want you to think its Right vs Left, its not. Its Insiders vs Outsiders and what insiders fear isn't, the end of Democracy. Its, the end of their control over it."
This video NEEDS to go viral. A comment for the algorithm.
🙏
same
definitely
yes
Probably use community posts to exploit the algorithm.
It isn't about the money. It's about sending a message.
The information in this video is so important in pointing out the lies they sell. You know what they say in business deals, "if you don't know who the sucker is, it's probably you". And now we know.
Its very disappointing when Google deletes reviews while naming them 'Spam'. Its clear that those apps are getting you profit so you won't budge
This is something that our extremely polarized society can agree on unanimously.
Unfortunately, no. Not when you've got people worshipping at the altar of Tom Sowell and other personal responsibility dipshits.
I really hope so. I think conservatives are slowly becoming aware of it.
@@mcsquisherton Conservatives will never be against fantasy concepts like "free market" and "personal responsability". And too many of them will still be staunchly against helping people in need because "they put themselves in that situation".
You need to realize that people who manage to evolve away from that particular mindset are no longer conservatives.
Conservatives will never be our allies.
I wish but American conservatives clearly dont give a fuck whether we die in the streets like dogs
As a son of trumplicans in trumplican America, you are sorely mistaken. They will find a way to blame big government for this rather than blaming the capitalist system.
Every one of your vids just wows me every time. You have a knack for assembling information while remaining transparent of where you stand and come from. 🤙🏼
Should be a wake up call for a lot of people.
Appreciate your hard work.
poor people: trade stocks
Rich people: Wait thats illegal!
Poor people: does anything to get themselves out of "the hole"
Cronies: THAT'S ILLEGAL! Get back in your hole, pleb!
I specifiically thought to myself this morning, upon seeing yet anothet headline about Gamestop, that I refuse to learn what the whole thing is about, because I'll only get wound up about yet another thing I have no control over.
Well I guess I'm learning about it after all. See you all in 13 minutes, lol
It's been 18 minutes, is your blood boiling yet?
@@mathwei7526 It's a Second Thought video, what d'ya think!
Same here, had too, sick of people talking about it, this video does a great job
This shit is sick... We see it everyday but these mind controlled zombies make it seem like this is ok and normal. Thank you for putting yourself out there with this content, and the great way you present it.
Still watching this in 2023 to remind me of the actual system people are living in.
I'm a simple man, I see a Second Thought video and I click the like button.
This incident directly triggered a strong backlash from the entire capitalists class. It's like a monarch furious at small offences. Because capitalists and monarchs know how fragile their crown is.
Just an idea: Would it be legal to create an app that notifies its users whenever a big fund or a corporation shorts any stock, so that they can buy these stocks to mess with the corporation and even gain some money?
I’m in agreement with your sentiments but I’m disappointed you didn’t mention one of the reason RobinHood and other Brokerage apps limited buy orders of the stocks mentioned. The Apps couldn’t afford the capital to purchase stocks on the behalf of the apps users. When the apps purchase stocks on the behalf of its users the brokerage has to put up their OWN money not the money that the user used to buy the stock. The Apps give that money to I believe a clearinghouse. So Robinhood and others had to put up billions of dollars to match the buy orders put in. Not to mention that apparently the clearing houses asked for an increase of capital due to the volatility of the stocks in question. Now the biggest news about Robinhood is that they denied the issue of liquidity, meaning that they stoped the trades of GameStop, Amc, and others for some reason other than not having enough money to back up the orders being placed. So yes shady.
The “chronically online” yep that’s definitely me.
Last time I was this early, gamestop was still irrelevant
Or relevant...if you really go back to the early 2000s.
Here's a bit of nuance. That regular people got to squeeze out some hedge funds: AWESOME! But...... and here is the nuance: do not forget that short sellers are NOT Wall Street. The rest of Wall Street got rich of these new investors. Exchanges, Brokers, Long hedge funds, banks, all got richer of this! In the end you CANNOT BEAT Wallstreet by BUYING their products.
I love your video's! The most sensible content I've come across on TH-cam! Thank You!
"The wealth of the wealthy is a direct result of the poverty of the poor" wow that was wonderfully written. sent chills throughout my body.
Its not true, new wealth is being created every day, if your not doing something to build your wealth, you will never get there. wealth was created in this country from nothing, day after day, year after year, for centuries. The dynamic changes and its not easy with no guaranties. But even the little guy can live good in the right conditions exists (which they dont right now). stop worrying about what other people do and grow yourself.
@@googlesucks7082 "if your not doing something to build your wealth, you will never get there" --- We spend almost every day of our lives creating someone elses wealth. When you work a job you are paid a wage -- the person paying you is able to reap the benefits of the wealth creation while you get an ever decreasing small piece. Wealth is not created in this country from nothing, wealth is only created through the direct actions of humans effort, day after day, for centuries. You don't understand the dynamic at all.
@@googlesucks7082 Wealth is not created, it's redistributed. For you to become richer, someone else has to become poorer.
@@ShinobiXRevived when you only have yur labor to sell, yes its difficult unless your have valuable skills. the more value the pay. when you invent something and sell it, it create a hole new industry, along with supporting business, new wealth, your not work at the right things.
@@googlesucks7082 How's Trump going these days? 🤣
this did a better job at keeping me awake than an 8am physics class
same...
I'm hooked on how that guy tried to effectively say, "touch grass," because we were looking at stocks all day, which I WHAT THEY DO EVERY FUCKING DAY.
You might want to redo some of this, melvin has been shorting GME since 2016, and the pump was caused by other hedge funds and melvin themselves covering losses. There is a fake narative going on the small players collectively even had enough to boost it. And there is a reason for this, it's too make it look like the levers of power are within any sort of reach.
he might want to redo it entirely, edit out the lie, the misinformation, and the uninformed crap he spewed is as amazing as usual.
But no the tens of millions of people putting simultaneously money in the same few stocks is enough, google "short float" and "trading" to understand how that works
"The market is neither free, nor fair." My new slogan.
“WAIT NO YOU CANT HAVE MONEY ME AND MY MONEY HOARDER FRIENDS HAVE TO KEEP ALL THE MONEY NOOOOOOO POOR PEOPLE”
Mood!
"time to give the rich a taste of their own medicine."
A comment both for the algorithm and to say thanks to Second Thought for bringing us excellent content like this!
The stock market is just baseball cards with companies on them. Unless you are buying stock directly from a company, you are gambling.
“In the short run, the market is a voting machine. In the long run, it’s a weighing machine.”
- Warren Buffett
And robinhood took our ability to vote.
It weighs the diamond hands!
@@joeykeilholz925 nah, just the billionaires who own robin hood, the ap can’t do things without their approval :P
“The best way to scare a Torie is to read and get rich”
-IDLES
love the IDLES
Petitions, and a nationwide strike might show em we want a change, and they will be powerless to stop a change like that.
Agreed.
I wish
This was a perfect summation of the situation, thank you for the video!
I have watched nearly a dozen of your videos but probably this was the first I saw an AD in your video.
I’m amazed myself!
@@SecondThought the quality of scenarios and video is superb! Thanks for your efforts!