my man really is the only political commentator actually doing it today. call it fake work or whatever but these vlogs help me almost every day. shout out to matt
I'd believe in Flex-Seal if they had the stones to flippantly use it to revive a busted parachute then demonstrate it's use on an infomercial like the great Billy Mays did w/Mighty Mend-It
The GME play is once in a lifetime. It was a naked short to 130% that was uncovered through due diligence via heads at WSB. The whole thing goes bust when everyone sells and the house can buy stock on the low low to cover their short. This will never happen again.
I don’t think this is over. The WSB dudes are all insisting on holding their positions through this. A lot of them are saying they’re never letting go.
I slightly disagree re Trading Places: it’s not that the writers trust the audience, it’s that it doesn’t matter if the audience understands the mechanics of futures and short selling. What matters is that the audience understands that Good Guys have bamboozled the Bad Guys, because we watch movies emotionally, not logically. But yeah, Now You See Me would have been 45 mins if they didn’t explain all the magic tricks and that is because the writers have no faith in the audience.
That makes sense. I also think a LOT of 80’s movies didn’t explain anything. But I’m probably also just thinking of kids’ movies. You were just supposed to take a lot of absurd premises for granted.
Yeah, that’s what I always assumed about it - there’s a lot of financial jargon used in the climax of the movie, but it still conveys the excitement & sense of plot propulsion on a visceral level; the audience can intuit what’s going on generally, and sense the conflict/risk/etc., even without understanding the esoteric details of all the trades.
The end of "Trading Places" is in New York, in 4 World Trade Center (later made famous by Osama). FCOJ was traded there at COMEX (along with Coffee, Sugar, Cocoa, Gold and Silver along side of NYMEX where Heating Oil and other energy futures were traded - also Potatoes, and NYBOT where Cotton was traded). In Chicago, at the CBOT you got your Corn, Wheat, Soybeans, and at CME you got your Milk, Pork and Lumber. There's since been a bunch of mergers and acquisitions and everybody owns everybody else. But my uncle was and extra in the movie and later got me a job there.
Also, they did not buy before they sold, they are selling lots they don't own, that's the short. When they buy at the end, at the lower price, that is to complete the contract. They get to keep the difference. That's what buys them the yacht.
These casts are almost always essential listening, but this particular one really turned into red-hot fire in the last 20 minutes or so. Important ideas for survival. I'm currently raising a kid who will no doubt be as low-wage earning as I am, but who will live a life enriched and buttressed by a creative spirit. At my darkest hours I take a great deal of comfort in that.
It appears our boy Matty needs to read up on the Hunt Brothers and how Jimmy Carter dumped the US Government's strategic silver reserve on the Chicago Mercantile Exchange to keep them from cornering the Silver market. This was front and center in the mind of the US public when Trading Places was in theaters. It was The Big Short of its time in a vague sense.
We are all a bunch of cyber feudal lords, in our own mind castles, raising armies and regular calls to arms, some actual. Welcome to the new Dark Ages.
The longer we hold, the more these vulture hedge funds lose money - if you're on a short position, you have to make interest payments on the leveraged short until you make good and buy back the stock at a lower price. So keep holding on to it!
This is still coordinated collective action that has materially damaged the demon class. That’s more than Occupy did. We should observe and learn, because I do not trust that the demon class are good enough designers to fix this bug quickly and totally enough. I think it also serves to demonstrate to a lot of market true believers that the market is a table they’re not invited to. All of these things are good. Everything sucks. Enjoy this and try and take notes while it lasts
@@yenaskitegar3140 don’t know that guy but yeh, patreon and crowd sourcing already did this to create, this is like crowdfunding an attack. Pretty cool development imo
Really good shit - solidarity from occupied Belfast. Unification really is on the table over the next few years but I don't see the "argument being won" on a cultural identitarian level but a kind of material necessity which leads to a new republic. Hopefully Scotland too. Maybe the breakup of the UK is a chance for some real politics
Is that really a repudiation of identitarian politics? Or just a re-branding exercise? A periodic overhaul necessary to keep the fundamental project intact? One thing I've noticed about Americans with Irish Catholic ancestry is that they assume some kind of close cultural affiliation with Irish born people that doesn't actually exist. In other words, Irish Americans have largely been discarded from the question of Irish identity not because Irish identity is obsolete, but because their 19th century ancestors are irrelevant to the question of 21st century Irish identity.
@@robertfreitag687 You're right, cultural identity will always be there, but as a socialist the opportunity for a new leftist republic finally rid of the vestiges of empire supercedes any cultural nationalism. And yes, Irish Americans are a very unique and peculiar phenomenon, and we don't claim them lol
@@talking_spectre I get it. I'm just fascinated about the way all politics is filtered through some kind of identity, and so the universalist project of socialism seems to be, maybe ironically, dependent on a deft crafting of identity. I mean, there are severe limits as to the kind of changes we can make to political identity, so I don't want to miss any opportunities. Not to be crass about it, but the Irish experience is maybe kind of a laboratory.
@@robertfreitag687 That's interesting, and it is certainly a fine balance here. Some in Ireland respond to the prospect of unification with a kind of triumphalism, others talk of "coming together" and "forging a shared future" etc. Personally I think the latter is more effective/worthwhile even if, ironically perhaps, it tends to come from more liberal or socdem elements
@@talking_spectre Yeah. This is how I schematize the evolution of political paradigms in my head: Traditional politics is all about conflict, be it national/ethnic or class. Neoliberal politics is almost a kind of anti-politics, in the sense that it assumes such an overwhelming capitalist hegemony that all there is left to fight over is empty symbolism. What's next? I'm toying with some different kind of limit to conflict, one that has some built-in guarantees to avoid becoming existential. It's not that conflict in itself is bad or wrong, it's just that we can't allow it to become so all-consuming that it becomes counterproductive. I really do believe that some level of conflict is healthy, or even necessary. Probably the most dangerous aspect of conflict is the illusion of ultimate resolution. But what is conflict without stakes? You'd think the existential threat of climate change would be challenging enough to keep us all occupied and rowing in the same direction, but that may be assuming a great capacity for rationality than we actually have as a species.
Excellent synopsis of Trading Places. I remember watching it sometimes on Comedy Central growing up - definitely a complicated plot for a kid to understand in a movie without all the exposition and internet explainers we have now.
Except he has s wrong. They did not buy future's early. They borrowed them paying premium from money entrusted to them. They sold them high and bought them low to cover the borrowed future's.
Matt: I’m just a layman, a conversationalist Also Matt: Lincoln was a Whig before a republican and had always been an appreciator of Clay…causing deflation, by literally pulling precious metals out circulation … liquidity became the question of the moment
Time for my another blackpill However, any resistance to the order is welcome, regardless of its causes, effects, strategy and tactics. This is why at least in my country the Philippines, I have more cautious optimism in my generation (the Zoomers) to reject the world we have been endowed and seek to create a brighter future. As for our American comrades, keep fighting and keep organizing. This century may be the last century of capital, and we must be prepared for it. I may be wrong though. Cheers!
I don’t agree... too many people on the Reddit side.... they may slow it down or put a circuit breaker on it but those are temporary......it’s the beginning of the peasant class chain reaction and then the next mass meme trade will reinforce the power shift. My 2 cents.
@@420JackG lol everyone’s poor and everything sucks. Who fucking cares anymore? I would gladly trade this sham democracy for the ability to burn Wall Street to the ground (metaphorically)..... Or whatever.
@@420JackG , it will be like whack a mole.... the realization that we can use our collective force in one avenue like a few select stocks will bleed into other creative ways to move money towards the proletariat class. But that’s my take as an eternal optimist who love love loves disruptive changes in the status quo 😉✌️
On self-selected sickos indulging in online politics on the basis of their personal neuroses, rather than any economic relations : "The advanced societies of the future will not be governed by reason. They will be driven by irrationality, by competing systems of psychopathology." -JG Ballard
One of my favourite things about Trading Places is that it leaves you to figure it out. As a twelve year old it felt respectful of my intelligence. Look where we find ourselves...
Some friends of mine from the Movimento dos Trabalhadores Rurais Sem Terra once said that the purpose of radical action is to force the contradictions of capitalism to their absolute limit so that they are laid bare for all to see. I don't know what the redditors' endgame is but I think they have achieved at least that
I'm Uncle Sam /that's who I am Been hidin' out/in a rock and roll band Shake the hand that shook the hand Of P.T. Barnum/and Charlie Chan Shine your shoes/light your fuse Can you use/them ol' U.S. Blues? I'll drink your health/share your wealth Run your life/steal your wife Wave that flag Wave it wide and high Summertime done Come and gone My oh my Back to back/chicken shack Son of a gun/better change your act We're all confused/what's to lose? You can call this song/the United States Blues
I check out wallsteet bets and there are people who invested couple grand knowing full well they are gonna lose 80% and "hold the line!" To take down a couple hedge funds. Lol
Christ, they sold short and then covered their short positions. You can sell what you do not own by agreeing to pay the settle price on the settlement date.
They most certainly did not cover their short positions. There's still 102% of shares sold short. Also, there's no expiration date on a short sale, but they do need to pay daily interest on what's owed to the broker. Current interest on borrowed shares of GME? 20%
everytime i watch cushvlogs my hope for the future just dies even more, do you have any hope or methods for bettering the future? or is everything just bullshit that sucks and makes things shittier
Mr. Christman, I would really like to hear your opinion about the "front running" of stocks. I've lost track. Perhaps take a moment, consult your peers, touch your contacts? Mom is devolving into Alzheimer's madness. I am otherwise involved. Got ahead. Do your worst. And Matthew, let the sunshine in.
Engineering doesn't take imagination?? C'mon man.. "A spider conducts operations that resemble those of a weaver, and a bee puts to shame many an architect in the construction of her cells. But what distinguishes the worst architect from the best of bees is this, that the architect raises his structure in imagination before he erects it in reality".
@1:01:00 You're preaching to the choir, Matt. What do you think the right wing version of you is telling his audience right now? What are you going to do when they form an AfD party? Good luck reaching them..
