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welcome ladies gentlemen comrades and welcome to the program in case you haven't noticed something unusual has occurred in the stock market or not that unusual after all you see reddit found out that a bunch of very very rich people were essentially betting on the gamestop stock to go down which forces them to buy the stock on a later date if the stock goes down in the meantime they make money if it goes up they lose money because reddit figured this out they essentially boosted the price by buying this stock on mars and boosted us up to more than 300 i believe even tipped to 400 dollars that's a lot for game stock stocks what does that mean well that means that all these big hedge fund companies that are invested in this have to buy these stocks from these wall street bets people the problem is these wall street bet people are not selling the stock until it's very very expensive essentially just kind of forcing the hand of wall street in order to buy these stocks at ludicrous prices now i'm not going to get into the whole nitty-gritty about the the stock market because for one i'm very unqualified to talk about this and for two there are many people who can talk about this much better than i can so i'm not going to do that i'm instead going to talk about this from a socialist perspective what does this mean for socialism for one it boosts class consciousness you see um in the wake of this happening what these headphone companies did was essentially block normal people normally everyday people from trading these stocks what that means is that people saw the light all throughout the pandemic the idea that the rich aren't your friends have become more and more abundantly clear the idea that we're all in this together doesn't really go up when one portion of those people can [ __ ] off to a yacht somewhere the same with climate change you're not really in this together when one part of the population can just live on a solar powered york for the rest of their lives even if the entire world is in the water what this shows is that these billionaires will always put money above the interests of everyday working people they will even plausibly commit crimes in order to back up their monetary interests now this is nothing new of course it's not the idea that wall street [ __ ] over everyday people isn't exactly a new concept but right now is a great opportunity to tell people that it's happening to show people that these wealthy people are not your friends their interests will always go above yours they don't care that with that money you earn from that stock you could pay off your college debt or pay your rent or gift to your family that really needs it because they want it the thing is if they lose all the money they're gonna drink any less champagne but they have to move out of their manhattan mansion probably not they probably won't have a problem with it because they'll get bailed out anyway it's class warfare just like it's always been the entire history is littered with class conflict and this is just another example of it an example in which people figured out that when they work together when they bant together and have the strength of numbers they can outsmart these people they have more power collectively than these hedge fund companies have on their own and that is a great feeling it makes them feel powerful of course it does outsmarting these billion dollar companies of course that feels good especially if you make a bunch of money on the top of it now i'm not naive enough to think that this will be a turning point in in leftist ideology and all of a sudden all these wall street bet types will join the left and join the cause of socialism i mean i've seen very mixed opinions on them from the left some people are saying that it's an amazing thing because they're treating billionaires out of a bunch of money which i agree with and other people saying well yeah that's true they are treating billionaires out of a lot of money but are they really working class people so let's talk about that shall we what class do they belong to well if you take the binary class system that marx put a forth that wherein you have two groups the proletariat and the bourgeoisie in which group are they for them well if we take the definition to be the proletariat earns money by working by labor and the bourgeoisie earns money by owning things then they would be bourgeois yes they do things of course they do you know market research whatever but that labor that work doesn't contribute to the value of the product or the value of the company that is purely something they do for themselves it's like cleaning your room yes it will work i mean it doesn't really add value to anyone but yourself not to say that you shouldn't do it clean your room so are they bourgeois well but they do have different class interests then the billionaire headphone companies we saw that this time around they're very clear different interests although on some parts they do align they have the shared interests with these people that the stock market does well that's a shared interest whereas a a working-class person doesn't really have that interest as long as that company can afford to keep them so so are they bourgeois well it kind of shows the limits of a binary class system i would probably argue that they are more bourgeois light like they have a lot of the shared interests but also different ones so that makes the question are they our allies quite difficult i would say that right now our interests are more aligned and with our i mean the interests of socialists more aligned with these wall street bets types than with hedge fund managers i don't think that's a very controversial thing to say because although these people make money off of you know what we would consider to be um unethical means i think there's a lot more to it than just that and if you don't know what i'm talking about when i say unethical means allow me to introduce you to a concept called surplus labor value what's that surplus labor value is the theory in marketing economics let's say that you are a baker you work at a bakery and you bake bread the dough that you bake the bread with is one dollar per bread and you sell the bread for five dollars that means that your labor value the value of the labor that you put in to turn that ball ball of dough into a bread is four dollars but if your boss only pays you a dollar for making that bread the surplus of the labor value that you put in is three dollars that money goes to the big man upstairs that's profit and profit is what's pay being paid out in dividend when you buy stocks now not all stocks pay you dividend but let's for the sake of argument say they do if you own a stock if you own a share of the company you're being paid dividend you're being paid part of the profit if you own one percent you get one percent of the profit of that company you didn't work for that profit it wasn't your labor that turned the bread or the turn the dough into the bread you didn't provide any labor that really added value to the company or to the product for the end consumer so that is what people talk about when they say surplus labor value you are profiting by owning something by owning us to owning capital in order to buy a share that you didn't work for you might have heard the expression um for any man who gets a dollar they didn't work for someone has to work for a dollar they didn't get that's the concept it's really as simple as that so what do i think of stocks that being said on one hand you can [ __ ] over hedge fund billionaires which is fun of course it's hilarious on the other hand they are unethical my personal opinion of them is that currently the question isn't do you do someone profit off of surplus labor value or no one if you choose as an individual not to buy stocks that doesn't mean that money is going back to the workers that money is just going to someone else who buys the stocks and if no persons no individuals like you and me buy stocks that's me that just means it's gonna go to wall street so in that point the question is would we rather the money go to wall street or to wall street bets and my personal opinion is that it's much better for average day people to have enough money to pay off their college and to buy a car and to pay rent than it is for these wall street billionaires to have another few billion dollars so at this point i would say that buying and selling stocks doing this kind of trading stuff falls in the same category as there is no ethical consumption that capitalism yes you are contributing to the mechanisms of capitalism but you're doing that as well when you buy an iphone when you buy a macbook when you buy an ikea table you are also enabling the mechanisms of capitalism just in a slightly different way but you're still doing it so in that sense i think at this point it's uh it's very very based to trade stocks especially if you [ __ ] over hedge fund billionaires but what it truly means is that right now in the future it's our job as leftists to turn people to the left use this as a very valuable example of why our class interests are utterly divided and how the interests of even even people who make quite a lot of money on wall street bets are completely different to the interests of the billionaires their interests are to keep you poor and our interest is to stop them from doing that workers of the world unite