capitalism
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- NBQ002
20 year old commits suicide after owing $700K+ in losses to Robinhood trading platform because he didn’t know he was trading options on margin.
- Apparently it’s that easy to open an account on margin w Robinhood and trade with money you don’t have and amass great margin losses.NBQ00
- Some stocks/ options must’ve really made extreme moves in the opposite direction of his trades to amass $700K+ margin losses, yikes.NBQ00
- Easy if you ignore all the warnings and don’t read upmonospaced
- There should’ve been a limit in place. I know that ThinkorSwim/ TDAmeritrade has limits in place and locks the account if the margin losses are at certain %NBQ00
- I bet this kid had couple grand at most (if at all) in his account. To amass $700K+ margin losses is insane and shouldn’t be possible with little $$ in accountNBQ00
- Always amusing to click View Comments on that site and inevitably its a bunch of nutcases ranting about the jews..yuekit
- I don’t see any jew comment this time :)NBQ00
- You didn't scroll down far enough lolyuekit
- This is America!utopian
- Read that kids, think 10-12 are on Robinhood now day trading, while gaming just in the evenings lolgrafician
- Yeah how the fuck can teens under the age of 18-20 even sign up for trading accounts.NBQ00
- They can’t even get credit cards!monospaced
- They can have FAcebook at 13 I think and sure, robinhood at 12 no wonder the stock market is up with 20 mil. jobless pplgrafician
- ups, make that 40 mil jobless, https://www.nytimes.…grafician
- Fishy...I've never seen anywhere that let you trade more than 50% of your assets, then the margin is called when asset prices go down and 'poof'!formed
- What's to stop somone from trading $100's of million, then declaring bankruptcy? I don't know this "zerohedge", but I can't believe that could happen.formed
- @formed it seems "there's an app for that" case with Robinhood lolgrafician
- Who knows, maybe it was this https://www.bloomber…NBQ00
- I still don't buy it, though. What's to stop someone from pumping stocks, betting millions, etc.?formed
- If it is a glitch, then the kid wouldn't be liable.formed
- @formed so all the adults can do Robinhood under their kids names and if they mess up "oh, it was my kid day trading" smaaartgrafician
- i find the most interesting thing about this phenomenon is ppl switchign from sports betting to day trading. never been a big difference. always saiddeathboy
- gambling.but somehting id never have thought of in shutting down sports. one of those. oh shit moments, on centrally planned actions outside marketsdeathboy
- do the day tradrs also expect a bailout and why they dive in. will the sec step in? they signed off on hertz for bankruptcy caitapl raise,,, it makes no sensedeathboy
- unless they expect the fed to buy them out. its absolute nonsense all around and threatens soemthign americans have taken for granted forever.. reserve currencydeathboy
- 20 yrs ago we lightened up on china to shift to westernized ways. they smiled and went pseudo free markets, or facism in controllign industry and are destroyingdeathboy
- it using human capital, and fae monetray growth,,, well not destroyign it they suffer own bubbles. and showing signs of planned progress collapsing with skeletodeathboy
- cities and depreciating property value. its a very interesting time for us and world issues. since 2016 i realized no matter how smart i am and plan idiots getdeathboy
- in the way. money to skim for day to day trade, but its not real growth and absolutely ruins markets.deathboy
- So this was a case of bad UX somehow, a negative balance before the app would update latest trades?grafician
- More info https://www.forbes.c…grafician
- Nobody is talking about day trading deathboy you stupid fucking cunt. Your entire rant is meaningless as usual because of your stupidity and ignorance.monospaced
- Robin Hood isn’t day trading your retakes.monospaced
- Retard.monospaced
- utopian2
Capitalism, Coronavirus and Racism all wrapped up into one story, neato!
Rich countries are scrambling to reserve coronavirus vaccine doses, which probably means poorer countries will have to wait.
Rich nations are placing large advance orders for COVID-19 vaccines, which could mean poor countries will be left to wait once a vaccine is found safe and effective in humans.
A handful of vaccine candidates have shown promising results during clinical trials, the most in-demand of which is being developed by the University of Oxford, which has partnered with the pharmaceutical giant AstraZeneca.
- nb1
The idea of having a "world economy without the US" is one of the funnier things I've read this week. Thanks for the lolz, qbners.
It's literally nonsense. hehe
- Thanks! But give it a few more years at this rate...grafician
- But sure, QBN will still be here, we can still comment in a few years from the sidelines as usual...grafician
- If you want to see a possible scenario unfolding, here you go: https://en.wikipedia…grafician
- Mortgage forbearance or relief after covid hit, due to end in about a month from now, lots of ppl in the US will struggle with rent and lose homes over this...grafician
- Couple this with 40 mil. unemployed still...ufff brother, the great depression seems like peanuts right about now :/grafician
- grafician-4
Think the World economy must drop the US because the amount of financial stupidity and negligence going on right now in the States will drop on us like that asteroid dropped on the dinosaurs...the fallout from another full market crash will put us back 20-30 years at least!
And with coronavirus going on up until the 2022 at least, we will be doomed for real this time
WW3 will be an economic one...
- Bro, do you even know capitalism? :)
“World economy must drop the US...” what? World system without the US would be fucked.NBQ00 - That's what I'm saying unfortunately...
Dropping the $ would be WW3 on an economics levelgrafician - couldn't we just wait 20-30 years till all the owners of that debt die out and start a new balance sheet meanwhile?uan
- Pull everything and buy real assets fast, until the $ value goes to shit. Printing trillions unbacked by real assets & giving it to the rich without helping...grafician
- ...the real economy is madness and can't be sustained much further...bro!grafician
- instead of starting war about some numbers?uan
- @uan mate there was a time when the $ was backed by gold - then the US said "no more" and starting printing "fake" money and here we are...grafician
- and no, debt is inherited through generations, basically all the trillions printed now are backed by "future generation's work's worth"grafician
- btw billionaires like Gates or Bezos don't really own billions (expect the real assets they own), they own in part debt. The entire system is based on debt now.grafician
- it was maybe necessary to make us grow, but we have enough knowhow about economy now to implement a better solution.uan
- the problem might be, there is no 'we'. or at least I don't see one atm.uan
- except* their real assets...Anyway we just pass along debt now, the system is built on debt now, not real money/value.grafician
- There is no "We the people" no more, correct. There are only central banks that control currency and so forth debt. It's all a big "I O U" system now...grafician
- and no, you can't really reset the system either, as it will crash! Only solution would be to freeze it somehow and build more real assets to cover the debt...grafician
- ...but that will take generations, think billions of ppl to work nonstop to cover the debts of past generations, for decades! Unreal...grafician
- we need a 'we the humans'. make lives worth living. let us (as in gov) pay us for living. and make an economy that grows without destroying the planet.uan
- and ikr, it's just some late sunday hippy yoga idea. as a designer looking at the economy, trying to put it all together in order, it's what I would suggestuan
- Capitalism is a system that promises infinite growth based on real life finite assets. Unsustainable. The planet is already sold.grafician
- We literally use all the resources the planet can offer in a year, in 2-3 months! The rest of the year is actually living on borrowed time.grafician
- We actually need to just hold on long enough until we build a post-scarcity society where all the needs are met. Not in our life times unfortunately...grafician
- Here you go: Michael Venuto
@michael_venuto
·
6h
The Bank of Japan owns nearly 80% of all ETF assets in the country.grafician - We actually work in the society just to pay the interest on future debt. We don't own shit.grafician
- And the financial system is so convoluted to intentionally keep the regular folk in the dark so they don't get the big picture.grafician
- you got a house, food, cloth, electricity, phones, internet...even if you don't own shit. that's not scarcity no more.uan
- While the ppl that actually get it and go ranting about it seem like mad men to regular folk. The truth just hurts, "eat the rich" won't be a joke for too longgrafician
- and that's why my friends, we can't have nice thingsgrafician
- @uan mate, you have those now, but on the expense of somebody somewhere else that doesn't have those things! This is thehard truth, but enjoy it while it lastsgrafician
- we will only know peace when having zero or having enough are equal, that's the real hard bottom line.grafician
- I suppose Romania is bustling enough to keep it going without the USmonospaced
- @mono nope, we don't even qualify anymore for the Euro zone, politics, economics...But happy you got a new house man!grafician
- @mono btw, come here for a weekend, we have the same beers for cheaper, faster internet for cheaper, all that, bring your mask tho'!grafician
- @mono I'd be happy to discuss economics with you, Bucharest is basically Berlin or Paris, but way cheaper, because money and debt and capitalism.grafician
- @mono btw you can get a cheap flight from NYC to Paris to Bucharest for like 2k to do a corona test that costs 50$ here, way under $18k cost in NYC lolgrafician
- @mono tell all your friends, cheap coronavirus tests in Bucharest, no need for bankruptcy in the States if you're not covered by insurance...grafician
- didn't the Romanian gov sell its territory to NATO to place land-based ballistic missiles?uan
- @uan we didn't "sold" anything, we are part of NATO, EU country and all that lolgrafician
- so you didn't get any money for this?uan
- @uan we actually bought more second hand F16s from Portugal I think, but some of our corrupt officials still have Swiss bank accounts, care to elaborate on thatgrafician
- @uan we put most of them in jail, but you know the money they stole still sitting in Swiss bank accounts paying interest for you guys, funding your lifestyle...grafician
- ...but what can we do, it's all capitalism right?grafician
- Just so you know, the Swiss only export banking and maybe chocolate and tourism? If the final balance comes, you guys are left with absolutely nothing lolgrafician
- Just don't get mad at me, I'm only saying it like it is, the Swiss are not even part of EU, you only have better trade deals than the fuckers in the UK lolgrafician
- bit weird you end up in Nationalism...ok I triggered it, but still! I‘m willing to discuss Switzerland with you, but not in sidenotes!uan
- A corona test is free in the US. You’re getting ripped off.monospaced
- And the US is cheaper than Paris for most crap now I hear the euro is so damn weak.monospaced
- Finally. That rare for a flight to Romania is robbery. It’s about 4x overpriced.monospaced
- on the flip side graf to the US monetary policy is other nations that can and do take advantage of it. if the us doesnt do it you have the upcoming chinadeathboy
- who can be your controller. its all kind of funny and i hate the us monetary policy from one perspective but also see good guys finish lastdeathboy
- @mono if the corona test would be free in the US then how come ppl getting bills over $18k for a test? Might be free for you if you have insurance but it's notgrafician
- Bro, do you even know capitalism? :)
- utopian3
The Rich Have Stopped Spending And That Has Tanked The Economy.
The wealthiest American households are keeping a tight grip on their purse strings even as their lower-income counterparts are spending a lot more freely when they emerge from weeks of lockdown. That decline in spending by the wealthy could limit the whole country's economic recovery.
- NBQ000
Ballerina reveals she rakes in £75k-a-month selling her ‘smelly’ sports shoes and used underwear online https://www.thesun.co.uk/news/11…
- NBQ000
Heyyyyy...
The stock market is back at the previous highs pretty much but millions and millions people lost their jobs.
That's what the last video I posted was all about.
- zaq3
- click. on the broken imagezaq
- full version https://www.youtube.…zaq
- well executedutopian
- Snowpiercer?antimotion
- This is America!utopian
- utopian8
America's billonaires got $484billion RICHER during the pandemic - with the top five seeing a combined $76billion added to their personal wealth.
New report shows the country's billionaires have grown richer during pandemic
Jeff Bezos and Mark Zuckerberg are among those who made financial gains
Between March 18 and May 19, the total net worth of the 600-plus U.S. billionaires rose from $2.948 trillion to $3.382 trillion, the report found
It is estimated over 38.6 million Americans have lost their jobs during the crisis
- Isn't that mostly based on stock value? But astonishing none the less...grafician
- Stock and who's buying with what fundsdeathboy
- The fed picking up Corp debt creates opportunitiesdeathboy
- Again not capitalism and better politicsdeathboy
- fuck look at hertz stock . this will be interesting.. grabs popcrndeathboy
- formed0
For those that would like to educate themselves on how/where the motivations for our current economy, this is a great read (insanely thorough). As they say, 'truth is stranger than fiction'.
This is also for those that would like to learn about a 'real' conspiracy that is actually shaping our world as I type this. Fascinatingly terrifying!
'“The United States is now at one of those historic forks in the road whose outcome will prove as fateful as those of the 1860s, the 1930s, and the 1960s,” writes MacLean. “To value liberty for the wealthy minority above all else and enshrine it in the nation’s governing rules, as Calhoun and Buchanan both called for and the Koch network is achieving, play by play, is to consent to an oligarchy in all but the outer husk of representative form.”
Nobody can say we weren’t warned.'
- It's ironic that those that fall for this ideology are also the ones yelling about "freedom", "free markets", etc., etc.formed
- msde it a bit more than half way and realizing it made not a single statement and read more like AI pulling random data i gave up and went back to hulu.deathboy
- could u simplify your take for us? i know you didnt really sun up anything in th epost. all tease no tail.deathboy
- what strcuk me on the tease whcih didnt pay off as far as i read is the "value liberty for wealthy" i want to know definition of such liberty of wealthydeathboy
- and how it differs from poor. i have a big hunch puff peace of disinformation on that little note. but again it was all over the place and felt very AI withdeathboy
- pulled facts and no correlation and some ssumed positions and no backing,deathboy
- Shocking that you couldn't make it through the article...it's pretty clear if you read it, but that would require critical thinking...formed
- yea it was clear to me reading half of it. i said what was clear to me. i didn't see anything there. so what is your takeaway?deathboy
- utopian3
Nothing like good oldé American Covid Profiteering.
Let's charge them dumb American's only $1 buck for the product, but charge $9 bucks for delivery for a 1oz package.
#MAGAMAZON
- add more to your cart for free shipping, Mike... & try and remember your single lil purchase will go thru 10+ hands (shipping) and cost $x.xx in gas/packing etcPonyBoy
- For many products on Amazon it does not work that way, even if you're a Prime member. These companies find creative ways to get around the free delivery.utopian
- Having someone hand-deliver a 1oz bottle to the location of your choice anywhere in America should cost WAY more than $9nb
- NBQ003
- someone should tell him about shopify.hotroddy
- shopify lol, their platform barely works. my dev team loves building with shopify.utopian
- I'd almost forgot about Pocahontas, ever since Dems and eher home state rejected her, She pining for VP? Biden will choose either a ratchet or an underage girl.BustySaintClaire
- Get yourself a different dev team. Shopify is going to own ecommercehotroddy
- shopify barely works? sorry but you clearly haven't used it then.fadein11
- Clearlyhotroddy
- Shopify only works for small businesses.
its a shite closed ecom system.sted - sure, if fortune 500 companies are what you mean by 'small business'hotroddy
- not to mention it's empowering small business to compete against the likes of amazonhotroddy
- utopian4
'Heads we win, tails you lose': how America's rich have turned pandemic into profit.
As 26 million+ Americans lose their jobs, the billionaire class has added $308 Billion to its wealth.
Never let a good crisis go to waste: as the coronavirus pandemic sweeps the world, America’s 1% have taken profitable advantage of the old saying.
Some of the richest people in the US have been at the front of the queue as the government has handed out trillions of dollars to prop up an economy it shuttered amid the coronavirus pandemic. At the same time, the billionaire class has added $308bn to its wealth in four weeks - even as a record 26 million people lost their jobs.
- Yup, there will be a revolution, eventually, at least until there is a guaranteed minimum incomeformed
- (which the billionaires will happily fund to keep from getting lynched)formed
- Gov handouts more aligned with socialism. U should really focus your anger on the enemy than be a puppet of what u dislikedeathboy
- why? why not lynch the political class for enabling this in the first place?grafician
- Takedown the socialist gov!deathboy
- Of course doing that requires quite a bigger loss of real free markets... Can u stomach the fake growth through money policydeathboy
- Giving money to corporations is not socialism you donkey.i_monk
- It's gonna start trickling down anytime now...lolMilan
- haha imonk actually it is exactly socialism. just not your prefered varity or end gamedeathboy
- It's the exact opposite of socialism and you'd know this if you took even a moment to look up what socialism is (you clearly have no idea) or for the first timei_monk
- in your life were honest about your deeply entrenched biases.i_monk
- Bailing out corporations with public money is crony capitalism and has nothing to do with distributing wealth, agency or ownership to the public.i_monk
- Your ignorant bluster might take you far on twitter or in your circle of ignorance, but you are factually wrong.i_monk
- Now go drink some bleach.i_monk
- haha hey you said crony capitalism. Does that share more similarities with free market capitalism or trend more towards socialismdeathboy
- id say socialism. and if you don't like that word facsim,communism,soc... all the same. we can say collectivism.deathboy
- were the few decide for the majority by rule. how to distribute capital for the greater good. in this case and historically all cases will benefit the rich.deathboy
- and connected. wether lenin or any dictator. historically the small majority who "decide" for others on capital and business never help those they promised toodeathboy
- help. so yes call it crony capitalism if it makes you feel better but just a twin sister of socialism or any other collectivism and totally opposite of capitalideathboy
- crony capitalism is like bizarro capitalism in they share the same name but absolutely oppositesdeathboy
- and so you dont get confused. i dont like it as much as you. im just not a muppet of the system. blaming failures of political systems gaming markets for biggerdeathboy
- and bucks while minimizing competition. neverunderestimate a successfuls company desire for protectionary measures form competitiondeathboy
- Shhh, the adults are talking.i_monk
- adults can talk and they can still be very very wrong. perhaps by adult u mean smart enough to dodge a response? just answer is crony capitalismdeathboy
- just a term that has nothing to do with capitalism but political leaders and power that is far more collectivism in functiondeathboy
- u said "Bailing out corporations with public money is crony capitalism and has nothing to do with distributing wealth, agency or ownership to the public."deathboy
- As most collectivism philosophy it usually denies defining the public. For sure corp shareholders are public. more so considering gov pensions. and as much isdeathboy
- distributing wealth. what public did you wish your collectivism would work for and how? run for office with a plan. Every cunt does itdeathboy
- Bailing out owners is not socialism. Period.i_monk
- shapesalad1
- I followed his story in the past years. Quite amazing how he made over $30M and didn’t even care about it, kept living with his parents and told nobody.NBQ00
- utopian0
Almost none of the $500 billion in a coronavirus relief fund for businesses has been spent
- wrong threaddeathboy
- you’re on the wrong forum shitboymonospaced
- because that makes any sense .... sigh.... so tiresomedeathboy
