- Reaction score
- 10,220
What is occurring with Gamestop is sending shockwaves through the whole market, just look at global stock markets over the last 2 weeks as this story developed, also those who bet on the shortfall are often using finance tied to bigger companies who are all in on this insider trading, ultimately the panic here for many is not the loss of personal wealth but the fact this could be the catalyst for a financial crash that makes the one in 2007 look like small change, it has exposed illegal activities and now there is an attempt to use illegal activity to stop it running away and effecting everyone.How does this affect pensions DW? Surley this is about shorting, if any pension funds held shares in Gamestop, which I doubt, then they were due to lose anyway if the shorters (is that a word?) were correct in their gamble in the first place. Don't forget the shorters borrowed shares hoping the value would drop, so not good for pension funds.
If you have a private pension you are likely to have been affected already, I know some who have been knocked back 2yrs in the value which long term isn't a worry but this could escalate and if panic sets in we will be looking at another crash in the wake of Corvid 19 that has already put us in depression in the financial sense.
I believe I saw a report only yesterday that says 70billion has been wiped off Wall Street in the wake of this.
PS - those welling in the glee of seeing the big boys getting a piece of their own medicine may be short lived, it like rejoicing you have killed the mouse hiding in the closet but ignoring the realisation you just burnt your house down doing it.
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