Last night I had a conversation with a close friend of mine. We started talking about the economy. Full disclosure I am a full time trader i stare at charts for a living.
I've been warning him for over 2 years now that the plandemic and all the bullshit they implemented was going to cause a massive recession into a depression the likes of which we've never seen. That the credit crunch was gonna be unbelievable and that buying at home at all time highs during the plandemic was retarded and that he should stop pouring money into his 401k at his work.
He continued to pour money into those wortheless funds at work, he bought a house in 2021 which he got into a bidding war with and he even bought a new truck.
He is now complaining and blaming others about all the shit that's happening to him. He's going through a rough marriage, his work (new build developers) are now talking about massive slow downs and putting projects on suspension because the cost benefit analysis is weak etc etc.
He's mad at wall street for his problems. Just blindly pointing the finger at anyone but the mirror.
He's also giving me attitude lately because he finds it absurd that I can make money on a declining economy.
This is normie mentality 101. THIS is the core of the problem. Now I wouldn't even bother talking about the DS with him cause there is no point.
There is a level of personal responsibility that every man needs to take account for when entering a decision.
The cabal offers the system but doesn't force entry. My friend is entered because of his desire for material things. His home purchase was beyond what he could afford in a market where far more affordable homes were available. What did he do? He went way above budget to begin with AND then threw fuel on the fire by getting into a bidding war for it.
He then bought a new truck AFTER the above. This is retail for the last 5 years minimum. That is the behavior. That is inexcusable. if you were to do the above and come to me blaming others, I would call you a retard and tell you to get your shit together.
Blaming the cabal for absolutely everything is a lazy way of thinking.
Emotions. I see this over and over again in forums I'm in and groups of traders I chat with. They get their hands on something and convince themselves it's an outlier to the farm of shit just underneath the paint you so eloquently put.
I never understood this. I can understand having hopes in a company that could show some change and provide quality but you have to understand even, if not especially that is a target.
To quote Avon Barksdale - "The game is the game"
Making money is the game.
People get caught up in the hype of the story about a stock, and convince themselves it is "going to the Moon!" Any counter argument pointing out flaws is dismissed with disdain.
A mod here on GAW, bubbles-burst, acted like a coward and banned me for nothing more than pointing out that Ryan Cohen's motives might not have been so pristine in his actions around BBBY.
I had the facts on my side, but censorship was just as swift as the "fact checkers" on Twatter.
Classic example of emotions clouding judgement.
The meme stocks have all tanked because they are dog shit companies.
The only exception MIGHT be DWAC due to a POTENTIAL Trump involvement. But even that company has ZERO REVENUE, and unless/until that changes, it is going bankrupt with the rest of them. If Trump merges, then that could be a game changer.
Which by the way, I see no reason why he couldn't just come right out and DO IT anytime he wants. Since Trump doesn't seem to be making much of an effort to take Truth Social public, it is one of the reasons I am suspicious that DWAC management might just be blowing smoke up everyone's skirt so the insiders can cash easy paychecks.
Even if it happens, there would be PLENTY OF TIME to jump on board that bandwagon.
But noooooo ... can't have any non-Moon! dicussions because the ego is too fragile to consider that they might have been fooled.
I will be shocked if BBBY figures out some way out without filing bankruptcy. The NFT angle for GME is dying a not-so-slow death, as the head cheese for that deparment jumped ship to a different company. Not as bad as the CFO for BBBY jumping out a window, but let's not let logical thought processes stop us from a bunch of rah-rah smoke and mirrors ... in a BEAR market.
Nice to see two or three folks in this thread with their head on their shoulders.
A welcome change on this forum.
I didn't even know there was a BBBY hype or that anons were into it lol. During the DWAC initial hype I had posted here a simple chart about it's rocket. Lots of folks got into early but once peak formed I warned it's time to get out.
The number of people who came at me was wild lol. From "you're not a patriot" to "HAHAH DiAmoND HAAnDS". There are a few in here who are still upset lol
What's even more hilarious is I called 17 area to be where it will bleed back to. They came at me with every fundamental bs they could about why it's valuation was gonna be at min 39. It's at 16.81 now lol
As far as GME goes, I honestly didn't pay attention enough to care about it as I didn't bother trying to understand the hype or reasoning behind it.
If it moves up and makes money for anons then great but I don't get it lol