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  2021-04-15

  GameStop Part Three

  A continuation of my other two posts about the GameStop stock short squeeze. As time has gone on, GameStop's stock seems has remained volatile. In the past few weeks it has dropped slightly, but nowhere near where professional analysts (who may have a stake in it going down) have wanted it to be. GameStop has changed their internal structure, paid off over $200,000,000 in debt with cash, and all things are pointing up for them. However, the most interesting part of these few weeks as far as the pandemic is concerned is the internal dissent within GameStop communities on Reddit. This frenzy over the stock began on the subreddit WallStreetBets, but the return of old moderators to cash in on the moment caused an exodus to a new subreddit, simply called GME. Like WSB before it, this new subreddit was abandoned due to poor moderation, moving now to SuperStonks. There it remains to this day, however the active posters on these subs are extremely paranoid about hedge fund "shills" coming to spread uncertainty. The pandemic, from its very beginning, spawned a new type of investor. Tesla's skyrocketing stock price at the beginning almost one year ago is what made people on WallStreetBets rich, and many people who have previously never invested before (me included) have jumped onto the bandwagon to get some money for ourselves. Many of these new investors are now learning for the first time that the SEC is not necessarily out to protect them, and that hedge fund billionaires will not necessarily play by the rules. It remains to be seen the big takeaway from this revelation for most people, once the initial paranoia is past. Some people I have seen have developed a strong sense of class consciousness, seeing this as an attack on the little guy by billionaires who became exponentially more wealthy from such trickery during the pandemic. Others accept it as the way things are. It is certainly a historical oddity that the pandemic has triggered mass participation in the capitalist stock market, and the result may be a growing number of young opponents seeing for themselves the rigged system.
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  2021-02-08

  Coronaland -- “2021 -- Here We Go Again!”

  With Carnival parades cancelled, somebody had the bright idea to start the Krewe of House Floats to (a) make up for it and (b) to offer work to unemployed float artisans. The results have gone beyond everyone's wildest imagination with 5,000+ people signing up in New Orleans, surrounding parishes, and around the world. “2021 -- Here We Go Again!” on St. Charles used ABBA songs and a "Mamma Mia!" theme to send up a variety of things related to the pandemic.
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  2021-01-29

  Four Wensdays in January

  This is a meme my friend shared in our discord, it recounts the absolute insanity that was January of 2021. The first image is of the failed coup attempt by enraged Trump supporters, white supremacists and fascists; who all stormed the capitol building with little to no resistance. While inside, they defaced the building, broke into offices and hunted for Vice President Mike Pence to hang for ‘betraying’ Donald Trump. The second photo came in response, depicting speaker of the house Nancy Pelosi holding the article of impeachment for Donald Trump. While it was argued that this was a pointless endeavor as Trump was virtually leaving office in a week, the main goal for impeachment was to prohibit Donald Trump from holding office ever again. The third image is the inauguration of Joe Biden as the 46th president of the United States, this event was made possible by the presence of the national guard, where 21,000 soldiers were deployed to make sure nothing as similar as January 6th could occur. The streets were empty as roadblocks and military utility trucks cordoned off the area, massive fences were erected surrounding the structure and soldiers patrolled the area. Largely, it was believed there was going to be nationwide attacks on several capitol structures throughout the nation in response – yet nothing of substance happened. The final image, and my favorite, would be the assault on Wall Street. This is an insane story, so I’m going to be a little less formal but this is an incredibly significant event, it is an instance of effective class-warfare. I’m not going to explain stocks, but essentially what happened is hedge fund investors made a bet that GameStop would fail, they took several ‘shorts’ out on this company to profit from this bet – however, redditors on r/wallstreetbets caught wind of this and thought “what would happen if their bet was wrong,” they began investing heavily into the company, raising its value, and as a result, costing the hedge fund billionaires thousands. These thousands in losses became millions, then billions, as more and more working class and middle class people threw themselves onto the market, to eat the rich. It wasn’t about profit, about making a return, it was a message. Eventually, this fiasco showed Americans that there essentially is no such thing as the ‘free-market,’ as these large hedge funds began blocking people from purchasing stock, forcibly selling peoples stock, using their own funds to facilitate an artificial ‘scare.’ People lost so much after the initial manipulation, but it proved that the market was only free for the rich, that once anyone else began to emulate the fraudulent strategies of the wealthy elite, they would be struck down. This is currently on going, but I cannot stress enough – it is not about money, it’s about sending a message that people are done. It’d be funny if the federal government intervened on behalf of wall-street by bailing them out, before sending out those measly 2k stimulus cheques. For the archive, this photo represents the pace in which everything moved in 2021, and the absolute absurdity of where we are today. To think, when this began we were planning on a few weeks at home, we’d make sour dough bread, then we began missing our friends and family’s – then we were in the streets marching for civil rights, and the ability for people not to be murdered by police because of the colour of their skin, fascists stormed the government, the ex-president is being impeached, again, now we’re trying to destroy Wall Street, this pandemic is absolutely wild.
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  2020-04-11

  Business Closure – Pennsylvania Gamestops

  GameStops across the state of Pennsylvania had their business license revoked by Governor Tom Wolf after the corporation did not abide by state closure orders.