jPay Message #219

Winter sucks. Its only redeeming factor is that it signals time’s passing, the world’s changing, that I’m slowly inching towards home.

I’ve disciplined myself enough to keep up my workout regime even in the blistering cold. I jus do supersets of pull ups, pushups, dips, and squats, and then retreat inside.

Im just glad to be back at it again, hard af…

So I’m in the old man unit now, after everyone got shifted around when the whole compound got covid. I think it’s starting to rub off on me in my TV preferences–binge watching Antique Roadshow& PBS, documentaries on Discovery & Science, and then the news, and business channels.

This past week I was riveted, like everyone else it seems like, by the whole GameStop saga. Yesterday Robinhood suspended the stock, along with a slew of others like AMC and Blackberry, from being traded –well, they allowed you to sell but not buy.

They dressed up their decision in moralistic language, as if they were “protecting” the lil guys from getting burned in a volatile market, when the opposite was true. The hedge funds were getting burned, bad.

I’m sure Michael Lewis has already started writing the book about GameStop’s meteroic rise, and the institutional power reacting against it, as I’m sure there’s a ton of articles explaining the actual buying and selling and (especially) shorting better than I ever could. Fundamentally, however, this whole episode is emblematic of the class war going on in this country.

Anytime their power and authority is threatened, the ruling class injects race into everything because it divides us up along arbitrary lines (humans are, after all, instinctively tribal) and distracts us from the wholly destructive way they run this country. We’re at each other’s throats instead of wondering why all these guys at the top are making an obscene amount of money. 

(They always cloak their self-interest as looking out for the disadvantaged and then have their shills in the media propagate the idea. Andrew Ross Sorkin on CNBC is one of the most transparent examples of this sort of hoe, posturing as a guardian of the unprivileged while jockeying for the hedge funds…)

Does anyone know how Wall Street traders and hedge funds make billions of dollars? They don’t actually make anything. A significant part of the market is dedicated to shorting stock, which does not add any value to the economy but does devalue good companies, and high-frequency trading, which should be illegal. This practice uses a high-speed connection with a 1 nanosecond advantage over the rest of the market to execute thousands of trades that rake in billions by gaming the market. It’s fucked up.

I know a convict railing against authority is almost tediously cliche, but the shit in the news over the past year has me feeling like I understand how the French Revolution happened. I don’t think a country has ever existed with a ruling class as antagonistic to a majority of its population as America’s is now.

All of our institutions are corrupt, working to protect the status quo and insulate the elite from fair competition. When people actually should go to prison, the system fails if its a member of the rich&powerful (&pretty stupid, tbh) ruling class.

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s