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robertpaulsen

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Member since: Tue Oct 14, 2003, 04:09 AM
Number of posts: 8,558

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The Paradoxical Politics of the GameStop Pump

The Paradoxical Politics of the GameStop Pump

r/WallStreetBets and the double-edged sword of a self-aware Internet.

By Ryan Broderick

We are now barreling into our third week of financial meme hell. Video game retailer GameStop’s stock rose over 1,000 percent after it was championed by the r/WallStreetBets subreddit. The stock fell 30 percent on Monday, however, leading many to believe a crash may be imminent.

What started as a half-serious Reddit campaign to rally around GameStop has ballooned into something much larger. Is this Occupy Wall Street 2? Or is this a second Gamergate? Are the Redditors that are leading the movement right now populist heroes? Or is this, as Elizabeth Warren has suggested, just a psychotic Internet casino that is tearing the fabric of society apart?

What can’t be denied is that a Reddit community was able to harness its scale to bend the market to its will. That’s a genie you can’t put back in the bottle.

r/WallStreetBets is a 7 million-strong subreddit for stock traders. It was created in 2012 by a banking technology consultant named Jaime Rogozinski. Its users—who commonly refer to themselves as “retarded degenerates”—bond over edgy memes, insane bets, idiotic financial trolling, and sharing what they call “loss porn”—screenshots of their tremendous losses. To get a sense of where the community’s values lie, Martin Shkreli—the former hedge fund manager who became a target for public hatred when, as CEO of a pharmaceutical company, he jacked up the price of a lifesaving drug by 5,000 percent, and was later convicted of fraud—was a frequent contributor. In a 2017 thread, a user asked the subreddit why they loved Shkreli so much.

more...

https://www.thenation.com/article/politics/gamestop-stock-r-wallstreetbets-meme/
Posted by robertpaulsen | Tue Feb 2, 2021, 06:49 PM (1 replies)

Has the FBI designated the Proud Boys as a domestic terror organization yet?

I think that official designation is well overdue.
Posted by robertpaulsen | Wed Jan 6, 2021, 06:30 PM (0 replies)

Zingers I would love Biden to fling at Dump

"His travel restrictions on China allowed 40,000 exceptions, including thousands direct from Wuhan. 40,000 people from an infected country is not a travel ban - it's a superspreader event!"

"The first broken promise of his campaign was built on a lie. We know it was a lie because five years later, Mexico still hasn't paid for it!"

Any others you want to hear tonight? The Rude Pundit came up with some good ones.
Posted by robertpaulsen | Tue Sep 29, 2020, 07:03 PM (13 replies)

Trump PANICKING, Accused of Laundering $170 Million

Trump PANICKING, Accused of Laundering $170 Million

David Pakman Show

--Donald Trump in a panic as the bombshell NYT taxes story joins the money laundering story, painting a grim picture of the financial situation for Trump, his business, and his campaign

Posted by robertpaulsen | Tue Sep 29, 2020, 06:34 PM (1 replies)

For a closing speech debate knockout, how about using Reagan's words to destroy Trump?

It was almost 40 years ago, October 28, 1980, that Reagan used the closing speech in a debate to frame a litany of complaints within the "Are you better off than you were four years ago?" context to draw contrast with President Carter. I think you could make the exact same argument and the impact is much worse against Trump, because he's a much worse president than Carter. Or Bush. Or Nixon. Maybe even Buchanan.

Here is a letter I sent to the Biden campaign with my recommendation:

Dear Team Biden,

We all see the polls tightening down to 4-10 percent undecided among registered and likely voters in swing states and across the nation. How best to guide them over to our side? I believe the best way is through the appeal of historical analogy as presented in this speech Joe Biden should give in the closing speech at one of the debates:



In October of 1980, Ronald Reagan stood before the nation and asked, "Are you better off than you were four years ago? Is it easier for you to go and buy things in the stores than it was four years ago? Is there more or less unemployment in the country than there was four years ago? Is America as respected throughout the world as it was; do you feel that our security is as safe, that we're as strong as we were four years ago?"

Today ... I don't even have to ask. You know we're worse off than we were four years ago! Four years ago, you didn't have to stand in line to get in a store, searching for items frequently out of stock or at inflated prices, then be notified when you're about to pay that there's a national coin shortage. Four years ago, we didn't have unemployment exceeding the Great Recession or a GDP drop that was the worst in modern American history. Four years ago, we didn't have other countries preventing Americans from traveling to visit them because our leadership failed to keep them safe from the worst pandemic in over 100 years. It didn't have to be this bad.

I'm offering you a better way. A way to build back better and give state, local and tribal governments the necessary aid to get COVID-19 under control; to safely restart the economy with millions of good paying jobs that prioritize American manufacturing and clean energy. That means corporate America paying their fair share so that small businesses can thrive and carry the economy forward. That means treating American workers and working families fairly and that women are treated as equals. Key to all this is advancing racial equity - working to close the racial wealth gap, enact police reform and criminal justice reform to undo the systemic racism that has plagued our quest to form a more perfect union. We can do this! If you want it - I ask for your vote.




Please disseminate this speech to the appropriate people so that once Vice President Biden delivers it, the millions of Americans still sitting on the fence might realize electing Biden is the only way to change how bad things are right now. I am an enthusiastic supporter, have donated and will vote for Joe Biden, but I am not seeking any recognition or compensation for this speech - feel free to take any snippet or the entirety of it. Whatever you feel can help Biden win - do it!

Sincerely,
Robert Paulsen




Now I edited my list of just how bad things have become in the last four years to fit a closing debate speech. I think there's potentially a list long enough to talk about for hours. Feel free to list in the comments whatever you think is wrong now that wasn't four years ago. Just off the top of my head:

Four years ago...we didn't lock children in cages.

In any normal time, that would be enough to necessitate a one-term presidency.
Posted by robertpaulsen | Mon Sep 28, 2020, 07:44 PM (3 replies)

Is social distancing summer fun possible? We tried Downtown Disney and Knott's Marketplace!

It’s the middle of summer. The scorching heat of the southern California sun is driving us crazy. Our normal knee-jerk reaction would be to get out and have fun. But with social distancing measures still necessary in the middle of a pandemic, is fun still possible? Neek, Sar and I set out for Downtown Disney, determined to find out!



Posted by robertpaulsen | Tue Sep 1, 2020, 03:15 PM (5 replies)

Disneyland's Rise of the Resistance: Boarding Pass or Fail?

Okay, we have crappy phones with crappy coverage so we really didn’t think that we could do any of the virtual queuing that Disneyland had required to get a boarding pass for Rise of the Resistance ride at Galaxy’s Edge. But we braved the tsunami of people there to give it our best shot!


Posted by robertpaulsen | Fri Feb 7, 2020, 11:48 AM (15 replies)

Building my own lightsaber at Star Wars Galaxy's Edge at Disneyland!

The desire for a lightsaber faded to the background as I grew older. But it reignited this year with the opening of Star Wars Galaxy’s Edge in Disneyland. I found out that within the town of the Black Spire Outpost on the planet of Batuu, there is a place called Savi’s Workshop. At Savi’s, you don’t just buy a lightsaber, the workers there help you create your own personalized lightsaber. I had heard the experience was almost like a ceremony. Suddenly that desire from childhood was back: I had to create my own lightsaber!


Posted by robertpaulsen | Mon Nov 18, 2019, 03:17 PM (6 replies)

Disney's Galaxy's Edge - Fuzzy Tauntaun, The Millenium Falcon, and building a Little Droid Friend

Disneyland has done a great job in bringing this film universe to reality. The details of the planet Batuu where Black Spire Outpost exists is quite amazing. The droids, ships, buildings are all scaled to realistic proportions and the skyline blends in well with the texture and color of the surroundings. It does seem like you are in another world.




Posted by robertpaulsen | Fri Nov 8, 2019, 03:33 PM (5 replies)

Two US senators told Ukraine's president that 'only Trump' could release military aid: report

Two US senators told Ukraine’s president that ‘only Trump’ could release military aid: report

Two U.S. senators now appear to be implicated in President Donald Trump’s scheme to pressure Ukraine into publicly announcing an investigation of his political rival Joe Biden.

High-ranking Ukrainian government officials, including president Volodymyr Zelensky, debated whether to give in to Trump’s demand for a public announcement of that investigation or refuse and lose desperately needed military aid, reported the New York Times.

Zelensky had privately assured Trump in a July 25 phone call that his government would look into Biden and his son’s dealings in Ukraine, but he feared losing bipartisan support in the U.S. by appearing to aid Republicans the 2020 campaign.

The Times reported that additional pressure came from two senators — who told the newly elected Zelensky that only Trump himself could unlock the congressionally approved military aid.

more...

https://www.alternet.org/2019/11/two-us-senators-told-ukraines-president-that-only-trump-could-release-military-aid-report/


I'm guessing Graham was one of the senators. Any other guesses?
Posted by robertpaulsen | Thu Nov 7, 2019, 03:29 PM (21 replies)
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