In recent days, there has been a misconstrued effort to blame the GameStop stock surge – which has upended financial markets and inflicted billion-dollar losses on major hedge funds – on Trumpism.
CNN said the saga had “its roots in Trumpism”. As a former Trump voter and a long-time lurker in the ‘WallStreetBets’ Reddit forum that led this audacious assault on the Wall Street establishment, I think this entirely misses the point.
To me, the GameStop short squeeze and the election of Trump are both symptoms of a larger problem. Both the people who elected Trump in 2016, and those who are now jumping on the Wall Street bets bandwagon, see an opportunity to fight back against a system they believe to be rigged against them.
