#Gamestop #Wallstreetbets: Insurrection

As I pointed out in multiple tweets as the story entered the mainstream, it is an error to look upon the Gamestop / Wallstreetbets event as a purely financial matter. 

Instead, the motivation of those driving up the share prices reflects something far greater. 

The people investing today are driven by righteous anger, about generational injustice, about what they see as the corruption and unfairness of the way banks were bailed out in 2008 without having to pay legal penalties later, and about lacerating poverty and inequality. This makes it unlike any of the speculative rallies and crashes that have preceded it.


Those trying to analyse what is happening with #WallStreetBets #GameStop from purely markets perspective are misunderstanding the psychology at play. It bears more in common with a populist movement — it’s an anti-establishment collective action against elements of the financial elite.

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