Well said Will.
I rememver having so many conversations during the Occupy Wallstreet times.
I was pissed that people were organizing to protest... by buying camping gear and utilizing tools of media to make a statement.
All of that was consuming more, making the rich richer while they ignored the issue. As always.
Now, finally, with this Gamestop action the common folk have shown an ability once again to exercise their will in a capitalist economy.
The power has always been ours. Don’t like paying $100 a month for cell service? If everyone stopped paying and refused to purchase the service again unless it was reduced to “at-cost” prices, well we would certainly pay less.
Instead of being price gouged for the maximum we can be bled for, we would pay the least amount which allows the businesses to operate on a fixed budget and pay their employees.
The only companies that would get rich by charging a premium would do so for actually producing an amazing product.
It would cripple the rich (and unfortunatley the economy) if we just stopped paying for anything but the bare essentials. Save our income and start buying again when prices come down.
Eventually, the pressure from smart consumers would create better products offered at better prices. Nobody would be working slave laborers to become billionaires because the money wouldn’t be there.
Smart consumers would only buy quality products made by well paid union workers for fair prices. Fuck the CEO and his yacht. I know plenty of people will step up to run companies for 6 figure salaries. You don’t need billion dollar incentives to get shit done or drive innovation.
THAT would make America great again.
Stock markets were never meant to be a tool to manipulate riches. When a commodity was produced in surplus, it had to be held in storage until the market demanded it. Like, a full harvest of corn wouldn’t be eaten in one week. But farmers still wanted paid and selling shares of that commodity to people that found themselves with disposable income made sense. If they bought in wholesale and held out for the demand to peak, they made money. It was hard to tie up income back in the day, so the reward for the hardship was a deserved gain.
Investing in start ups still has a similar operation. Help a good product come to market and get a share of the take when they start to turn a profit. After all, you took the chance in helping them become a business.
That’s it. That’s the only legitimate thing I see, from my understanding. All this shit going on nowadays is criminal. Anything that inflates a value to get rich and leave others holding nothing but dreams has to stop. I am glad the tables have turned for once. But, I hope the final outcome of all this is regulation that stops the gambling and games and returns the stock market to a sensible function.