Go figure, dear worst-reader. Worst-writer read the linked article (below) about a week ago and it hasn’t yet left me. Also. Although I’m a regular leech of Jacobin magazine (leech being one who won’t afford to pay for the newz he consumes), please don’t go off the rails thinking that I’m a full-time French Revolutionary that, perhaps, is one shy of a six-pack on account, well, why would a left-wing, progressive publication that does some pretty good writing and other stuff name themselves after a group that was, in part, responsible for the Reign of Terror? Now. Don’t get me wrong. Was the French Revolution necessary? Was the Revolution a natural human progression after the War of Independence in the United States? Did a few heads have to roll in France in order to rid this world of at least some useless hereditary monarchy? Obviously, the answer is… You betcha! And as far as monarchy goes, according to the inner confused depths of worst-writer, it’s a shame that monarch annihilation had to stop in France. More on worst-writer’s POV regarding French Rev is here. And on that note, I die-gress.
Even though the whole Gamestop thingy has waned as I worst-write this, one very important aspect of it should remain with us forever-more. Namely, we should all heed the reality that the friggin Stockmarket is about as useful for the betterment of society as a turdblossom huddling around cowgirls in Wherever-Texas thinking that six shooters can save the world from alien invasion or vaccinations or #Americant non-white folk messing with Texas cowgirls. Or. Put another worst-way, the thing that stuck with me for the past week or so from this article is the following sentence:
…the stock market has almost nothing to do with raising money for productive investment.
-see link below for source
You know, dear worst-reader, as a loser in this game of life–who’s also done pretty well for himself by expatriating and getting out of the $hitshow that is #Americant–few things have perturbed me more than how the country of my (miss)birth has spread nothing but ill-will and dire-straits through out the world in the name of greed-galore, fake shinny teeth (and tits) and a few overly drastic colour movies. I mean, if it’s ever been true that #Americant is but a fledgling attempt at nation-state-hood only so that it can hide it’s true nature, that of greed and greed and more greed, then that truth is now. I mean. The place is royally fcuked, don’t you know. And I even voted for old-man Biden with one of them fancy online preliminary ballots on account the people that voted for former president piss-hair scare me more than former president piss-hair. But. Again. I must die-gress.
With that in worst-mind, allow me this one counter thought about where this article is attempting to go. Namely the fact that in the past forty or fifty years of devastating wealth re-distribution–as opposed to wealth dislocation–there was a short stint there where the friggin Stockmarket actually served as a pretty ingenious (re)source of wealth creation. And I think it should be remembered. Or have you forgotten (or are you too young to know about) the Dotcom boom? Here’s more from the article that got to me.
Firms do issue stock now and then, in so-called initial public offerings (IPOs), but over the last twenty years … IPOs have raised a cumulative total of $657 billion, well under 2 percent of total business investment in things like buildings and equipment over the same period.
-see link below for source
The worst-thing I’m trying to get at is this. Even though I agree with the premise of the article–something about Capitalism has run amok–I am not politically progressive enough to place all the blame on the system itself. Yes. Capitalism is bad–right now. But the fact remains, in order for the world to progress and discontinue regressing, I think we’re gonna need Capitalism. So the only worst-question that remains is not the what but the how. Or is it the other way around? I don’t know anymore. My worst-brain hurts. So let me move on and close-out.
Obviously I have no empirical data here so I’m only worst-guessing the following. There is a precedent that shows how the Stockmarket can actually be productive. And even though the Dotcom boom came to a shattering halt by the end of the 1990s, to me it kinda proved that, if done properly and without GOP and Republican Party malice–I mean could there be a connection to the fact that the Dotcom Boom happened ONLY under the auspices of a Democratic presidency and a less-than malice filled Congress–it could actually be a pretty useful thingy. And for the last time, I die-gress.
Rant on.
-T
Source: The GameStop Bubble Is a Lesson in the Absurdity and Uselessness of the Stock Market
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