The War on Wall Street
It’s time for Congress to stop ignoring the economic inequalities in our country
We’ve all heard about the GameStop stock price skyrocketing due to a Reddit group collectively organizing to drive up the price. At this point it’s no secret that what’s occurring on Wall Street is monumental. So much so that trading platform Robinhood halted the buying of several stocks to try and combat this organized attack. Even Congress has taken notice and is beginning talks on how to properly address the event. The likely outcome of this fiasco will either end in lawmakers changing the rules to the stock market game or the GameStop stock plummeting to new lows. But the price of the stock isn’t the story people should be paying attention to. It’s what the situation represents that’s important.
For decades the stock market and Wall Street as a whole has been viewed by people as some sort of social club the rich visit to flaunt their wealth. Sure, regular people are allowed to join with a modest income, but we all know they’re not really welcome there. This lends itself to the old adage that America’s economy is structured to allow the rich to get richer and the poor get poorer. Unless you’re wealthy yourself, it’s pretty hard to argue against this notion. Just take a look at the pandemic’s toll on our economy. Mitch McConnell and numerous other GOP lawmakers were more interested in providing tax breaks to billion-dollar corporations, while millions were laid off and are currently going hungry.
But change is on the horizon. People are fed up with the wealthy controlling our government and to an extent our country. Wall Street tycoons walk around like they own the country and for the most part, they do. Almost every politician in office right now has a vested interest in the stock market because they have millions in the market themselves. The CARES Act was passed by Congress in record time not because people were suffering but because the stock market was. Our country is being run by people who have no idea of the struggles everyday people face. Does anyone really think that any member of Congress knows of the anguish of having to choose between paying rent or putting food on the table for there family? I think the answer is pretty obvious.
The Reddit group r/wallstreetbets witnessed this inequality and decided to wage a war on Wall Street. They chose to exploit the market while simultaneously making a statement. One visit to the group's daily discussion shows just how serious they view this war on Wall Street. Constant comments like “hold the line” and “bleed these mother fuckers dry” rule the discussion. This metaphorical war on Wall Street is starting to shine a light on just how massive the divide is between economic classes. Perhaps that same light will force Congress to see the reality that is just how unfair our economy has become for the working class.
We can all learn something from these self-proclaimed Reddit warriors. In a country that has been dominated by the wealthy for so long, the eventual conclusion will be a revolt from the underrepresented people. Those same people are realizing how unfair it was for there government to give them $1,800 during a global pandemic, while simultaneously handing out billions to massive corporations. Maybe it’s time we all stop allowing the wealthy to roll over the working class while our government gives us there scrapes to get by. The war on Wall Street will eventually end. And as it is with every war, we are left with the choice to either allow the old ways to continue, or to rebuild a better and more equal society.
