Manage episode 285925925 series 2883776
This week Main Street took on Wall Street in an epic battle in the stock market. Everyday Americans had noticed some interesting trends by the hedge funds and devised a plan to invest into specific stocks, like GameStop, and run the price up. Hedge funds were forced to purchase the stocks at a higher price due to their short positions and lost billions of dollars in the process.
That obviously upset them and they decided to fight back. They waged the war in mainstream media and among their political friends. In the end, trading apps, like Robinhood, decided to suspend trading. This manipulated the market and dropped the price, saving these firms millions. Now there are class action lawsuits and requests for investigations.
While all of that happened, there are three things that we can easily see in the situation that we must pay attention to. First, the elites of this country have a lot of money and power. They all stick together and are willing to make everyday Americans suffer to protect that power and money. They have no issues with crony capitalism.
But that brings us to a second thing to learn from this situation. When you have a situation where the two groups are divided like this, it gives you a clear picture of socialism. Socialism has two distinct groups, those who have and those who have not. Those who have devise plans to manipulate markets and situations to retain their power. If Democrats have their way and move the US to socialism, things will only get worse. Right now, everyday Americans have a chance, outside of most likely criminal acts by trading platforms like Robinhood. Socialism will prevent that.
The last thing to learn is that President Joe Biden had a chance to stand up for those blue-collar Americans that he claims to identify with. He said he knew how to protect them and would fight for everyone. Instead, this time he chose millionaires and billionaires on Wall Street. The same ones that donated nearly $150 million to his election campaign. How better to repay them than to save them by doing and saying nothing. Biden is only the President to those he chooses to represent, which are those who control him.
Music courtesy of Greg Shields Music. http://www.reverbnation.com/GregShields