In 2008, subprime mortgages almost destroyed the economy and took down the country because banks were greedy, unregulated and as the old saying goes, full of piss and vinegar. They allowed predatory lending practices knowing that the people that they were lending to wouldn’t be able to pay the mortgage once those variable rates that were pushed onto them rose. Half way through, the banks realized that if enough of these mortgages were handed out, the bank itself wouldn’t be solvent because their would be too many defaults and not enough revenue coming in, so they started to sell these shitty mortgages to Fannie Mae and Freddie Mac, government backed mortgage companies. They unloaded these mortgages on the tax payer and drank Cristal and Dom to their success. One of these banks, Bank of America, even gave their execs over $40 million as a bonus for their ingenuity on screwing over the little guy. Not one of these people went to jail for knowingly selling merchandise that was guaranteed to fail. Your welcome by the way.
Now you have wallstreetbets, an unorganized group of people, going after hedge funds, some who are associated with these banks, Merrill Lynch and Balboa are both associated with Bank of America, by screwing up their shorts, or their ability to short a stock, or bet on it’s demise. People betting on the misery of other peoples suffering, what seems to have become the American way, are finally losing by having a group of self proclaimed retards investing in the stocks and keeping them afloat and giving them a fighting chance. Now, these misery loving sadists are becoming upset because they, the people, took the whips out of their hands and started to beat them with it. Well cry me a fucking river of gamestop stocks. Whatever are you going to do now that you have to spread the wealth. Now that you are simple multi millionaires and not billionaires.
Why should Gamestop go the way of Blockbuster because big business found a way to stream the sales of games to their PS whateverthefuck the number is now and their Xbox and Switch.? Everyone complains how people are less social yet are crying that a brick and mortar store is trying to stay afloat. America is becoming Hermitville and these streaming devices are not making it any better. We should encourage people to be going out and buying, to get off their couches, to go to the movie theaters and brick and mortar shops, even if just for the exercise. So Gamestop doesn’t want to lose everything and declare chapter 7 or is it 8, huh, so they don’t want to go bankrupt and they don’t want to let these fucking vampires to make money off of their misery. Well good for them. And good for wallstreetbets, I got their back. I say fuck all the assholes that love the misery of others, not literally, metaphorically, of course.
That being said, wallstreetbets has to be careful they don’t become what they hate. GME is going to be obsolete because the business model isn’t built for today. GameStop has to change with the times and go to a business model that can succeed. They should go all VR and if their on hand cash allows it, take over an upstart or up and coming VR company and build their own VR games and equipment that is exclusive to them. At this point, people that are following blindly might lose everything because sheep always get led to the slaughter, they never get led to the mansion. So, while I get it, sticking to the man, is always fun, you have to make sure you don’t find yourself leading the sheep over the cliff, and by that I mean leading these people to lose all their money because it doesn’t seem like GME wants to change their business and they are just selling their stocks to make money before declaring bankruptcy.