Wall Street vs. Retail Investors: Jon & a WSJ Reporter Battle It Out | The Problem With Jon Stewart

[@goodboid]

You can't make a person understand the problem, when their paycheck depends on them not understanding the problem

[@acchaladka]

Thank you Upton Sinclair.

[@katlynklassen809]

When their paycheck depends on there being a problem.

[@katlynklassen809]

@@doctorberkowitz i wager then he does not truly understand the magnitude of the problem at play here. Otherwise he would be aware his neck is held no differently from the plebeians he attempts to assuage and he is more separate from the controlling interests he seeks to be than the working class is from him. So I don't think he "gets it" so much as kind of sees but won't look at it. Even if someone has an internal awareness of a problem if they do not contemplate and speak on it openly then they will not really have any understanding of it.

[@americanviking5298]

This. We are money grubbing little cretins aren't we? So easily tempted to hurt others for money.

[@stschannelt1476]

What a great way to put it oof!

[@forloveofthepage2361]

This guy ignored the fact that they changed the rules to help the big wallets. Wallstreet won because they paid for the rules to change. Every time Jon nails him on a double standard he changes the subject instantly. Good attempt Jon, but this guy was not listening, he was running damage control for the people you're calling out. Another pivot. "Wallstreet rigs the system with complexity." "Well the system is complex because finance companies want to make money off it." The gymnastics needed to make that statement is astounding. "What would you fix?" The balls on this guy.

[@jvillanueva7707]

The lack of balls you mean. The guy's a journalist, he's supposed to be shining a light on those dark inner workings, but instead just shrugs it off focusing more on the surface level stuff to blame retail investors, because "ehh, what can we do shrug..."

[@forloveofthepage2361]

@@jvillanueva7707 he has huge, bought and paid for balls. He knows what hand feeds him.

[@jvillanueva7707]

@@forloveofthepage2361 if he had balls he'd be biting that hand right off. He's been neutered, and is being a good little pup.

[@forloveofthepage2361]

@@jvillanueva7707 only if they pay him to bite. They might like it. Don't judge.

[@theBear89451]

How do you propose this complexity be simplified? People don't understand related rates because they didn't pay attention in high school. That's on them.

[@cyberiad]

I'm still sometimes surprised when Jon pushes back and KEEPS PUSHING. And the surprise I feel makes me uncomfortably aware that I'm conditioned to expect interviewers to let themselves be steamrolled. Jon has incredible skill and spine, I'm so happy he's back!

[@danayoung8997]

I love that Jon is staying on this. This journalist says he doesn’t have a dog in this fight and I call bullshit.

[@CyborgPilord]

I don't understand his argument "you can interact with wall street by paying it peanuts or not paying it" then you ARENT participating. Classic deflection bs.

[@rogersmith7396]

Yes.

[@alankoslowski9473]

Since he advises people to just buy index funds, I think he's being genuine. Index funds are low-cost, simple and beat most active managers.

[@BT-su1yf]

@@xdrowssap4456 index funds are a really good way to make money over time without as much risk as buying stock in single companies. I’ve made a decent amount of money investing in ETF’s over the years. Definitely stayed ahead of inflation. If you don’t want to get your hands dirty, don’t do it, we’ll take those odds and profit. Stay mad buddy.

[@alankoslowski9473]

@@xdrowssap4456 There's nothing wrong with renting. I say that as a homeowner who's looking forward to eventually going back to renting.

[@hermesgestistruism]

Thank you for defending us, Jon. We need systemic reform or we'll never be able to invest in our own financial futures with a fair possibility of a positive outcome. "Stay out of the market" is a non-answer, you were right to press on that. We should be able to invest without literally being cheated. Chasing ghosts... If it's ghosts we're chasing, how are we actually exposing real monsters one after another instead? ✌️❤️🔮

[@Bibliotics]

John Stewart definitely came back with a fire from his hiatus. I can’t say how much I appreciate his program every week.

[@nacarreira777]

So do I! I'd like to see him take on the fact that our elected officials trade stocks while in office....disgusting.

[@princephrog]

Jon literally ran circles around his guy. Spencer's entire argument was to acknowledge that there are problems with the system, but that the status quo should be maintained. What the hell is this guy on about?!

[@cericat]

About 6 figures at a guess. Expecting the WSJ or any of their staff not to support Wall Street is pointless, they're deeply embedded in it and always have been.

[@SirPumpkinhead]

Completely agree w you. Spencer is being dishonest and disingenuous.

[@theBear89451]

Spencer is right. There is no boogie man. There is a reason Jon Stewart, never uses specifics in his complaints.

[@rogersmith7396]

@@cericat Yes.

[@XboneMalone]

Not only that, but Spencer was arguing that there should be more rules and restrictions placed on the individual investor to stop professionals getting hurt when they short companies.

[@paulweyer4339]

Jon's choice to constantly reframe this man's "telling it like it is" as "this is not how it has to be" is so important. It's not about changing how people play the game; it's about making a better game.

[@adidas2684]

That guy was ridiculous. Kept dodging the question, trying to reframe it, trying to shift any personal responsibility. "I don't have a dog in this fight," later became, "I trade stocks." Of course he has a dog in the fight. Not only does he have a dog in the fight, he's probably one of those people he claimed thinks can beat the system. If he reports on it for a living, he has to study it closely. I have no doubt he's making decent money on the stock market which is probably why he doesn't want to reform the entirety of the system. He doesn't want a better game. Just fix the stuff that's not important to him, financially.

[@SDKSeizO]

@@adidas2684 The question is not IF, but HOW would you 'reform the system'. My parents call me on the phone to clean the apartment, but I want to watch KZbin and Netflix all day. What are they going to do about it? Come and ring on my door?

[@DL1ONS]

Yes I agree but they could have better way of policing at the least. Everyone just a takes a hand out and turns an the head.

[@vlndfee6481]

kzbin.info/www/bejne/m4DWfHmFp7xonpo Future goal of the powerful: hacking animals(=humans)

[@Infectd]

We live in a system where the referees and rule markers get to play and win the game at the same time. Until Nancy and others like her in DC are forced out of Wall Street we will never see a real solution to inequality. Wall Street will never be regulated properly until those in charge of regulation are prevented from financially benefiting from the game.

[@mouseman225]

This was infuriating. Spencer: "people just need to learn how to engage with the stock market without getting their pockets picked." Jon: "Ok but see, isn't it pretty messed up that picking pockets is legal? We should reform that." Spencer: "Listen, Jon, people are gonna pick pockets. It's up to the CONSUMER to avoid those back alleys and bad neighborhoods." Jon: "Or we could just clean up the back alleys and arrest the pickpockets." Spencer: "No... No... Let's not even focus on the pickpockets, they're just better than you. You should just avoid them if you don't like them."

[@DumbledoreMcCracken]

This is a naïve view of life. You want them to make it easy for you to make money? It is a zero sum game. Any money you make is a lost opportunity for someone else to make money. So, Spencer is saying: If you see an opportunity to buy a stock, you set the price you want to buy it, and put in your order, and you will get it for that price if the market has a fool willing to sell at that price (or you are the fool to pay that much at that time). If you put in a market order, you are going to pay what the brokerage is willing to sell it to you for. But Spencer is also saying, just buy index funds, and hope for the best (if you don't want to play the game of buying an individual stock). Easy peasy.

[@OfNoImport]

@@DumbledoreMcCracken Uh, no. We don't want them to 'make it easy for us to make money'. We want a level playing field. It only happens that a level playing field would tilt in such a way as to bring retail up and big money down.

[@christopher6600]

@@DumbledoreMcCracken We know what Spencer's saying, and we know it's full of shit, completely ignoring the manipulation and collaboration that goes on to rig the market at the expense of retail investors. It's not naive to challenge the status quo, it's a necessary step towards reform. "Any money you make is a lost opportunity for someone else to make money" - Which is exactly why a rigged market is a problem, and why we should challenge it.

[@DumbledoreMcCracken]

@@christopher6600 Okay, then what is better? I would be surprised that Tulip Speculators in The Netherlands weren't manipulating the market in the 1600s.

[@DumbledoreMcCracken]

@@OfNoImport any tilting of the scale introduces price disruption, yes? Say I want to sell $100000000 worth of shares in a stock, and I will take any price (meaning I will take less than that), am I allowed to sell those shares outright? Or, am I forced to sell based on the terms of some regulatory body that "tilts" the machine?

[@shetlandapache949]

The cognitive dissonance necessary for this guy to engage with this system and not see anything wrong with only excluding the people without power already and still see himself as a power for good change is truly impressive. Humans can do anything

[@oregonwildboy]

The mental gymnastics is strong in this corrupt dirt bag.

[@rogersmith7396]

The man works for the WS Journal for Gods sake. How many radical bomb throwers do they employ?

[@alankoslowski9473]

He doesn't say that. He says, rightly, you can efficiently buy into the system with index funds. They're simple, low-cost, and beat most active managers.

[@98ws6m6cvert]

He's ignoring it.

[@sidewinder3781]

This thread is nuts. He stated up front the best way to create wealth (low-fee index funds) and stated he’s highlighted $100+ million illegal activity in progress. He clearly is beat down by the system and trying to keep his job, but he gave the single most important fact on gaining wealth.

[@cody8009]

Finally somebody that is not afraid of saying the truth, thank you JON. Fair markets, that is all we want

[@AlbertCloete]

I love the fact that Jon Stewart understands exactly what's going on with this saga. So good to have a highly watched celebrity in the know and shining light on this issue.

[@benk9973]

Next week's headlines "Jon Stewart is racist transphobe misogynist blah blah" it'll happen. Maybe not next week but once he starts ruffling feathers he's gonna get canceled

[@Bisquick]

I would say he vaguely intuits what is going on and is surely giving a voice to the nebulous, but very correct no doubt, notion that _something_ is fucked which is no doubt closer to reality than living in the transparently unsustainable contradiction riddled hellscape that we all know at some level that it is, while also believing its ubiquitous delusional apologia masquerading as "natural" or "objective" (a conflation of "is" and "ought" primarily, as Hume would put it), _but_ the enormous gaping ideological lacuna obscuring the full picture here is the "business ontology" necessarily cultivated over time when living within the mode of production of capitalism (or more accurately, when circumstantially and arbitrarily born into a position where sustaining one's life materially in such a social order is even possible; ie the relative comfort afforded to the bourgeoisie - aka owners of property capable of being a "means of production" node - from within the core of a global financial empire that remains largely unseen by most). And _there_ is the _actual_ problem at its root and uncoincidentally the one that has been taken off the table in peoples' minds after decades and decades of red scare propaganda because the reality is both Jon and Spencer are correct here ostensibly merely without the ability to imagine an alternative to capitalism because of that ingrained assumption that "there is no alternative" (as Thatcher put it). _"It's easier to imagine the end of the world than the end of capitalism"_ indeed. But not only _is_ there an alternative, if our goal is to live on a habitable fucking planet, which is you know, kind of a precondition for anything else, that alternative _must_ be brought about. We've dug ourselves into a giant civilizational hole here and upon becoming conscious of this have apparently decided the supposed solution to this is to dig that hole more furiously than ever, just pure social inertia keeping this shitshow going at this point. What maintains that social inertia at its foundation (ie how we organize material reality in terms of ownership and control, out of which emerges the implicit social organization that dictates _class_ ) and boundaries (the impossibility of reform being only _one_ such boundary) will reveal the whole thing clearly, and this is far more easily grasped when we zoom out to a macro geopolitical level and apply a materially grounded analytical lens to history and its progression. Doing so we can pretty clearly see a continuous thread of class struggle, the modern age being carried forth in the fervent working class radicalism of the sans-culottes, their idealism slowly falling out of favor with the bourgeoisie in the National Convention in the French revolution as their egalitarian project encroached on this middle-class material power, despite riding this momentum to overthrow the Ancien régime. This is the concept of "historical materialism" (undergirded by a "process metaphysics" consideration of "dialectical materialism", as opposed to a more Kantian notion of insulated "things in themselves" - if too jargon-y don't worry about it lol) and it's why that Marx guy, as it turns out, was absolutely correct and why people should absolutely read what he wrote for themselves as it will _actually explain_ and clarify everything rather than further abstracting/obscuring it. His conclusions are accurate specifically because, unlike the caricature of moralizing dumbass painted of him in the hegemonic cultural memory, he _intentionally avoids_ normative claims to critically examine systemic functionality at a purely _descriptive_ level (ie _materially grounded_ in a Thucydides-esque way; the shortcut to cut through rhetorical shibboleths/ideological smokescreens being to ask what is really the _only_ political question: 'cui bono?' who benefits?) because as Sartre succinctly described the causality here, it is necessarily the case that "existence _precedes_ essence," precisely why all these reactionary right-wing attempts to explain...really, anything...are inherently flawed as the always rely on a normative notion of essence, particularly of "culture" without ever considering that "culture" doesn't spontaneously generate from the ether and is the result of how material reality is organized and bounds possibility (in our case strictly bound to profitability of course). _"The bourgeoisie cannot exist without constantly revolutionizing the instruments of production, and thereby the relations of production, and with them the whole relations of society. Conservation of the old modes of production in unaltered form, was, on the contrary, the first condition of existence for all earlier industrial classes. Constant revolutionizing of production, uninterrupted disturbance of all social conditions, everlasting uncertainty and agitation distinguish the bourgeois epoch from all earlier ones. All fixed, fast-frozen relations, with their train of ancient and venerable prejudices and opinions, are swept away, all new-formed ones become antiquated before they can ossify. All that is solid melts into air_ [Metaverse/NFTs/Crypto/finance/tech bs, all unconsciously undergirded by global US corporate empire entirely taken for granted], _all that is holy is profaned, and man is at last compelled to face with sober senses his real conditions of life, and his relations with his kind."_ - some guy (Marx to not be pointlessly facetious), a bit optimistic at the end we wouldn't just choose individual delusion while the planet literally burns around us... There's really only two choices for humanity, to echo Rosa Luxemburg during and prior to the 1918 German uprisings that lead to the recapitulation of the Liberal state merely without the Kaiser, before of course being executed by the freikorps paramilitary (later becoming the SS, shocker) at the behest of Ebert's ostensibly _social democratic_ party, instantly echoing and resonating the truth of such a succinct political dichotomy to this day: *socialism or* [continued] *barbarism.* _"The ultimate hidden truth of the world is that it is something we make and could just as easily make differently."_ - the late great David Graeber

[@MWhaleK]

A little knowledge and a LOT of common sense as well as experiance goes a VERY, VERY long way.

[@johnjacopec6668]

Thank you Jon Stewart for talking about these real problems that no other media digs in on. From Corona to now a war, they dont ever talk about these very real problems right here in our country. Please keep talking about these economic issues.

[@kjohntec5530]

"...there is a retirement crises coming..." He said those words without acknowledging that the corruption of wallstreet and corporate greed are what killed the pensions and also what are keeping the average person from having extra money to save more toward retirement. By skimming so much of the individual investor's gains they are getting rich while adding fuel to the upcoming retirement crises. The stock market of today is looking like someplace to put a minority of your investment dollars.

[@jc.1191]

The American market isn't the only one available.

[@zehrajafri9252]

Jon Stewart is great, he's trying his best to understand and cure the corrupt system destroying the planet and all life. 👍 👍 💖

[@theotherguy6155]

Yeah the problem is though he kept losing focus on the interview. questions were asked and then were diverted to another topic. it's a problem trying to learn on the fly. payment for order flow is not bad. The entire 'problem' with peoples understanding of the PMFOF is the fact they live in the USA, the greatest liquidity market in the entire world. Go to another country and look at the spreads which can be DOLLARS wide. the fact you pay fractions of a penny to get spreads that are pennies wide is absolutely worth it. in fact, most brokerages are losing money on every trade simply because they don't make money from you trading stocks. their goal is to get you in and hopefully you start looking into other derivatives like options, futures, etc.

[@barbarabradley8881]

Ya he is! He is awesome!

[@theBear89451]

Jon Stewart does not understand what is going on. Notice he never talks in SPECIFICS, just some general "system" and "they".

[@rogersmith7396]

He understands completely. He has their number.

[@mercedes932]

Jon is a voice of reason in these turbulent times

[@emhu2594]

What we need is a voice of power.

[@mercedes932]

@@emhu2594 Unfortunately it seems that all voices of power currently are corrupted by self-interest or corporate greed

[@martinlutherkingjr.5582]

@@emhu2594 Distributing the power to multiple voices is preferable IMO.

[@rogersmith7396]

And completely ignored by the powers that be.

[@MacNif]

@@doctorberkowitz and Morgan Freenan, and Russell Brand

[@christophertstone]

This was so infuriating. I don't know how you stand talking to these corporate bootlickers, but I'm glad you are.

[@TheDanielClem]

I've never been a bigger fan of Jon Stewart than I am right now. Great job, Jon!

[@SamForViceroy]

What a great master class on how to not answer difficult questions.

[@ninakore]

This journalist panicked at being asked to name a sector needing reform and then went on to attack TikTok influencers, like they’re a huge problem. He’s got friends all over Wall Street he doesn’t want to call out.

[@GreilMerc7]

There is a scene in the big short where they have irrefutable proof the game (MBS) was rigged and it was going to collapse. The “journalist” gave the runaround about how he was not going burn his friends and connections on Wall Street over the “crack pot theory”. The push back about the situation has and always felt like gas lighting. Why should I trust a media that has repeatedly told me to “Sell now ask questions later”.

[@kevinscholer256]

I tried to post same comment..I'm banned from commenting now

[@cericat]

Look at his employer, the WSJ belongs to Dow Jones (they sold most of their share of the indices to Chicago Media but still hold about 10% I believe), who themselves belong to News Corp. He doesn't need friends on Wall Street to be compromised, he's part of the same system.

[@rogersmith7396]

I'm surprised bitcoin did'nt come up. Its the latest scam to fleece the world.

[@barnabusdoyle4930]

Any time some Wall Street Fund Manager gets on TV saying a certain sector is about to get hit. You can bet that person has shorted that sector making millions on its drop, then buys into it near the bottom to make even more money. How is this not manipulation.

[@orrfannut9527]

This guy sure says a whole lot of nothing while constantly avoiding questions.

[@8BitNaptime]

I think that's his one line resumé.

[@philcarpenter]

As per the usual crooked financial journalist. It's all a bunch of nothing.

[@darrenwilkinson1742]

“APE’S” participated in GameStop to bloody the nose of a corrupt institution. Period. Any industry that can short sell more than 100% of a something with a finite quantity. And it was hilarious and glorious!

[@Thezuule1]

But ultimately it changed nothing.

[@lexerdaniel4843]

BlackRock, the world’s largest shadow bank, thanks you for inflating the price for long enough for it to make billions. Them and the multiple hedge funds that didn’t short GME and bought in to make obscene profits off the short squeeze. You didn’t win anything; you didn’t change the system or expose anyone. You just gave your money to other powerful people.

[@Highhook1818]

@@lexerdaniel4843 I changed something: my retirement balance. Doubled it at ago 59 so I can now retire at 61 not 67. People who were in it for the "movement" lost their ass, and as you say, just gave (lost) their money as the moment the media picked up the story it was waay to late in the game to "stick it to the man" or make any money.

[@zackeryrussell7744]

@@Highhook1818 exactly. Moon soon.

[@darylreuben4871]

You guys have missed the main point. It's about '' rules for thee but not for me ''. The problem was that the rules of the game seemed fair as long as Wallstreet was winning, but the moment retail starts winning then suddenly the game isn't fair and Wallstreet wanted to change the rules mid game in order to change the outcome in their favour. Once the rules of a game have been established, you can't change it while the game is going on, you change it afterwards. They halted the game in mid play. For a situation such as Gamestop, it was clearly stated by multiple people, including the CEO of Interactive brokers ( I think, might have been a different broker ) that the price of Gamestop would have definitely gone far into the THOUSANDS if they did not halt it and change the god damn rules of the game. This is why people are pissed. All these points you made are relevant and 100% part of the problem, but please grill people on this.

[@billybigwig1154]

Good job Jon. You do what no one else will.

[@jeremiahbuck2450]

Thank you Jon Stewart for being a voice to represent the average Joe who is also trying to have their money work for money in a system that is no longer made for them to win except for the hedgefunds

[@theBear89451]

BS, there is more information and lower costs for small investors now than there has been at any other time in history.

[@jeremiahbuck2450]

@@theBear89451indeed, all paid for by the hedgefunds

[@theBear89451]

@@jeremiahbuck2450 No, reduced cost of information and transactions are because of technology. Hedge funds are not subsiding retail.

[@alankoslowski9473]

That's fallacious. Index funds beat most hedge funds. Index funds are inexpensive, simple, and accessible to most investors. It's not the 'system's fault' many investors are duped by hedge funds.

[@dirivl4954]

@@theBear89451 Ah, right, that's why Citadel hadn't been the largest portion of Robinhood's income stream.

[@unipartyhellscape8895]

Stewart treated this “financial reporter” with kid gloves and still made him look like the bootlicking tool of the billionaire class that he is. Well done sir.

[@JK_Clark]

The other guy's analogy is a casino, and he's encouraging investing in low-cost index funds. Didn't see any 'bootlicking', just a pragmatic assessment of the reality in Wall Street.

[@killzone866]

Are you 12? The guys point is that people will get fucked if they play the game. The game is rigged. Regulation needs to happen, but again the game is rigged.

[@unipartyhellscape8895]

@@JK_Clark Stewart mentions reforming Wall Street about a dozen times and the reporters response to that was to change the subject. That’s the form his bootlicking comes in. The wealthy don’t want any rules for their casino and this reporter is all too willing to shut down any talk of that.

[@SirMonday]

@@killzone866 Yes, and when asked "how do we reform Wall Street" or "what reforms would you suggest", he kept turning back to "apes bad, too much risk, buy low cost index funds, don't pick stocks". He's a broken record whenever someone presses him to talk about the actual problems rather than returning to an at longest 2 month period over a year ago.

[@RiceChrispy0527]

I just find it weird that these people are advocating for a system that they are clearly too afraid to speak about, honestly, in public view. Why are you so afraid? You can clearly see Spencer is afraid that he is going to say something wrong. What is the reason for that? I think that's probably the answer we really need to find.

[@martinlutherkingjr.5582]

People who work in or around the finance industry are typically like herds of sheep. Clout and reputation matter much much more than anywhere else, they’re on par with politicians.

[@RiceChrispy0527]

@@martinlutherkingjr.5582 pretty much the same with any field. What it needs is a check system in place to make it so it's not too egregious. To keep things relatively balanced. It's fine to gain enormous wealth but it shouldn't be through exploiting the corrupted systems, only through putting in the work. Cheating only feels like work to a cheater. But to anyone who has actually accumulated wealth legitimately, cheating feels too easy, like you don't deserve it.

[@JohnDoe-ll7sg]

Because he is at mercy of the people illegally naked short selling. He claims it doesn't happen yet somehow short interest can be 50%+ higher than the entire float... Buy to sell ratios at 5 to 1 yet the price tanks... But it's totally retails fault for wanting the right to speculate in a "fair market" that is the heart of the financial system...

[@fourshore502]

because he will get fired if he speaks up. its exactly like the wsj journo in "the big short", total coward.

[@rogersmith7396]

Spencer does'nt want to get fired by the WSJ. John does'nt want him to get fired. If his guests all self immolate he will have no guests.

[@actualcollegegrad]

The way this guy ignored Jon's point was intentional. He seems paid off to stay on topic. Keep digging Jon Stewart.

[@franklinhall4901]

These two make a good point. Wall Street does appear to function more like a casino.

[@pinesparrow]

"It's a racket." "Those stock market guys are crooked." ~Al Copone

[@Poppa_Capinyoaz]

It's an infinite money machine, how could it not be a scam.

[@rogersmith7396]

Al would know how to solve this problem. Get me Frank Nitty.

[@FinancialShinanigan]

Gaslighting the retail investors, classic WSJ

[@paul.vanhout57]

Appreciate Jon’s willingness to engage those with a different view. Lack of discourse further fuels our divisiveness and prolongs our systemic flaws.

[@jjherrell]

"It's only slightly sleazy." 😂😂😂😂😂 He actually said that. Either he's incredibly naive, or he's in on the game and is defending it because of the money to be made.

[@markclifford5712]

The second one

[@michaelbenti5383]

Jon is so good at interviewing and doesn't let the naive or wallstreet shills spin their narrative.

[@henryclinton9317]

The wisest thing that should be on every wise individual's list is to invest in different stream of income and don't depend on the government to bring in money especially now the pandemic is hitting the economy

[@wilsonjudson1650]

you are definitely right , waiting on the government is a big waste

[@henryclinton9317]

Investments are the stepping Stones to success especially if you been guided by a professional

[@fredrickconte6270]

Investing is good but investing in the right thing is the actual key to success . who is your pro ?

[@henryclinton9317]

That was exactly what I did, I trade with a professional stock expert "TERESA JENSEN WHITE " who i met in one of the seminars..

[@henryclinton9317]

There are so many investment out there but if profits must be considered then not all investments are good to go into.

[@34jrose34]

"You can be in the stock market without being a speculator" Translation: You can be in the stock market as long as you invest your money through index funds so that the corrupt guys who own the market can leverage your money to their maximum benefit.

[@alankoslowski9473]

There is no 'corrupt guy who owns the market'. Index funds are simple, inexpensive, accessible to most people, and beat most active managers. Being diversified in the entire market means you aren't overly leveraged anywhere.

[@OnTOPtheROOF]

@@alankoslowski9473 hello Bot.

[@alankoslowski9473]

@@OnTOPtheROOF I''m not. I'm just educated and practical rather than ideological. Try it some time.

[@kimhayes6910]

@@alankoslowski9473 I'll take 'wise' over 'educated' any day. The money makers don't make money on the stock, they make it on the 'mechanics' (along with insider trading for the connected) of the stock market. Pretty much the entire point of the video. So again... for the uneducated/unwashed masses - take the stock crumbs and leave the biggest piece of the graft stock-pie (paid for by the unwashed masses) to the professionals. Think that was Jesse's point @ Jesse Rose?

[@alankoslowski9473]

@@kimhayes6910 Historically, global stocks have returned about 7% annually. Anyone can access these markets with total market index funds. How exactly is that not making money? Again, index funds avoid most 'mechanical' costs. The 'mechanical' costs you refer are from active managers, most of which have lower returns than the total market.

[@liambrearley]

Journalist who is supposed to hold the finance industry to account doing all he can to protect the corrupt status quo.

[@nikkia5399]

Jon- your work and passion is amazing. I consider myself somewhat informed (really eyes opened when Bernie ran the first time). You take us all to that next level of validated information. My question to you is how are you able to keep going and keep asking the real questions- knowing the answers will sicken you at your core- it is hard for me to watch even though I want to know. There are times- not with just this video but with everything going on- I have to push pause and take a step back or I may end up a puddle of emotions on the floor. You are made of tougher stuff- thank you for shining a light on all these things that need to be changed.

[@petemitchell7171]

This guy is the epitome of what’s wrong with the media! He’s a financial journalist that instead of reporting truths, he is scared to death to upset the apple cart. Bravo Jon Stewart !!

[@MarkBelain]

I mean how is he the epitome of what’s wrong when he’s the one willing to sit down with John Stewart and get this stuff reported?

[@dancoyle6911]

The GameStop squeeze scared hedge funds so much that they resorted to, and had the power to, close those entire stocks for what was it a week a week and a half? Those retail investors do not hate the stock market they hate that they don’t have the same power and pull that the hedge funds have, and they have more rules on their end of the investing than hedge funds have.

[@dontforgettolike7127]

That wasn’t the squeeze, it hasn’t happened yet.

[@dontforgettolike7127]

@@yamchadesertbandit9368 how about providing an argument? “Lol” is not one.

[@Tayfaan]

@@yamchadesertbandit9368 😂😂

[@victorguerrero3197]

Shorts did not cover

[@Tayfaan]

@@yamchadesertbandit9368 Learn about what? That we're wrong about that the market is COMPLETELY FUCKED? Perhaps you're the one that should 'learn'.

[@brysonjace8676]

I strongly believe in professional support. If you're someone who wants to remain in control of your wealth and assets after the "Great Reset" takes place, then you'll need a strategy as strong as the one the Central Banks have.

[@theoking1712]

Yea go on and pay your fees ! Every information you need is free and available to you online. The risk is part of investing.

[@brysonjace8676]

that’s why the S&P is constantly trumping your portfolio

[@loganjackson8515]

I watch these videos for education and mostly entertainment 😂. I don’t know why this logic is not pushed more ! For me I get my peace of mind knowing a professional is monitoring the market and my portfolio, and making needed changes.

[@andreabrooks5948]

Recently started out an investment manager and it turned out to be exactly what I was looking for, highly recommended especially for beginners. The risk Management is amazing. Also the experience and guidance throughout not only keeps me away from lame stocks it also helps me pin down the amazing profits.

[@mikesmith-it6bt]

Well In an environment where realizing a healthy return on investments is proving more challenging to people, getting help might be the only solution.

[@freddiesimmons1394]

The fact that Jon is still talking about this speaks to the value he puts on the facts and not on "the news cycle". He will be persistent until there's nothing more to say. We love you.

[@MrRiVoS]

I really hope he keeps on talking about it!!!

[@biggusd32]

How corrupt is the market when Spencer just accepts it and advises investors not to speculate on stocks. Whole idea of a free market is for capital formation and for investors to put money behind companies they believe in. The market in the US appears incredibly corrupt and rigged, best play for companies is to float on non U.S. exchanges and for retailers to invest in companies not listed on U.S. exchanges. When that happens perhaps someone will do something about the wrong doing and bad actors, until then unfortunately the market is far from free and to blame it on retail is ridiculous.

[@swesimon3925]

The day when the EU or Asia bans its citizens from investing in the US because it is not safe, is the day people on Wall street end up in jail.

[@krypttoenight9971]

@@swesimon3925 Heck didn't China blacklisted citadel for 5 years for its corruption?

[@zackeryrussell7744]

@@krypttoenight9971 yes! For excessive illegal short selling!! Fuck YESSSS

[@josho6038]

So he says it is corrupt and then says "send all your money to it to buy the whole thing so they can decide where your money goes while they churn your account" lol. A simple bank run ends this game as Canada pointed out already

[@JohnDoe-ll7sg]

@@zackeryrussell7744 But WSJ says they wouldn't do that... We are chasing ghosts! /s

[@claudiaroedel1368]

Jon, thank you for this series. For years I have been saying that betting on horse races is safer than investing in the stock market, because the system is rigged. Thank you so much for shining a light on it and pushing for change!

[@dameongeppetto]

"It sounds very sleazy but it's only slightly sleazy." Wall Street in a nutshell.

[@jvillanueva7707]

A nutshell couldn't contain the amount of sleaze there.

[@selmonpogba6080]

@@jvillanueva7707 Yep

[@tobarstep]

I just imagine this guy an hour before the interview on the phone with his _sources_ at Citadel going, "Ok, what should my talking points be?"

[@redhottoaster2434]

"Just keep saying that the anger of the Apes is misplaced"

[@petersulewski]

This WSJ journal guy just basically said "American Dream is dead. Just stay a peasant, peasant"

[@rebelsquadro7514]

The "fuller picture" Jon talks about, is just how badly the free press (in this cast WSJ) wants to shift the narrative away from reforming the market, and more towards reforming retails ability to participate. Spencer is saying retail can participate in the stock market by buying index funds but if you choose to participate in any other capacity your choosing to compete against institutional corruption...does that sound right?

[@smithsmith6402]

They were certainly talking past eachother. To use the casino analogy, Spencer is telling people not to enter the casino because it's corrupt, while Jon is asking for the casino to be changed so people can enter it safely. Both arguments are against the casino and will kill it off if followed. But I think Spencer is the naive one here- as difficult as it is to fight this corruption politically, fighting it socially (convincing/educating people to avoid being scammed) is even more difficult. I'd say go for both options- fight for reform, and also institute public education so fewer people lose all their money on some over leveraged nonsense or a thousand and one middleman fees.

[@BR-gz3cv]

Awesome awesome awesome interview and insights into the Wall Street machine. Please keep shining the light on this important topic!! Thank you Jon!!

[@IrishKG]

Rich people: "Come play ball with us" Poor people: "okay here is our best play" Rich people: "What?! You know how we cheat? You made 10 baskets so we are taking our ball and going home!"

[@associazioneprometeo]

Thank you Jon. Your heart is in the right place, and we won't ever forget what you're doing for the little guys.

[@stschannelt1476]

👊👊👊

[@Kalepsis]

Stewart for President.

[@teejae2065]

000

[@brandonvick387]

@@stschannelt1476 to get

[@sugarymushroom12]

Hell yes.

[@nightknight9415]

Low cost index funds beat 97.5% of active managers through any decade, beyond 10yrs 100% of active managers get outperformed by S&P-500 index funds. Keeping 90% of your investment dollars in funds like FXAIX with around 10% in some individual holdings like Berkshire Hathaway has allowed me early, debt-free retirement.

[@craigslist8355]

BINGO! This is also my investing strategy & it's been highly effective. Congratulations on your early retirement NK.

[@TheDakkaman]

“If you call a brokerage a ‘bucket shop’ they’ll be really insulted…” *Proceeds to furiously train myself to only ever refer to the major ones as such ever again*

[@Ryuujinv01]

I love how he mentions putting money in a bank as a bad decision that people do when they give up on the market, while also saying the corruption is fine. Considering the percentages of banks is kept low by the investing class abusing the stock market. Before they captured government, savings accounts were pretty close to the expected APY of index funds.

[@SharienGaming]

probably because the way the banks paid for the interest was by investing in those index funds or government bonds...

[@Ryuujinv01]

@@SharienGaming Nah, it's largely because they've captured any and all regulation, and also competition, and sent the same relative profit to shareholders. Back then there were over 13,500 commercial banks to service 135 million people. Now, there's only 4700 commercial banks to service over 300 million people. Index funds weren't even freaking invented until after 1975, after the right wing started to seep into power and working on destroying banking.

[@SharienGaming]

@@Ryuujinv01 oh i was referring to how a savings account had almost the same return as those index funds sidenote on another thing you just mentioned - the 4700 banks...im willing to bet that the majority of those are owned by the same handful of people... the US is essentially all monopolies or close to that when it comes to their economy... its such a massive mess

[@Ryuujinv01]

​@@SharienGaming Savings accounts were roughly the same as index funds today, in an era, where index funds had yet to exist, so, no they weren't investing it in index funds. Banks primarily make money off of assets and loans. Thats where they are investing your money. Actually, until Steagall was repealed they literally couldn't. Stop making guesses with probablies and willing to bets, the internets there you can research it, there used to be much more local banks that invested locally instead of just the giant corporate commercial behemoths. You're "willing to bet" now due to how much of the landscape they control today, it is not natural.

[@marioferreira8723]

Great job Jon ! Keep the heat On Wall Street !! Rules and Regulations only for the the retail investors !

[@tsukitty6420]

WSJ Financial Reporter acting like he doesn't have a dog in this fight, but he obviously does. His dog in this fight is maintenance of the status quo of which he reports on. Good on you for challenging him, Jon.

[@davidrodriguez2631]

Honestly been losing hope in this fight but listening to this shill, I know we are still on the right track and I am feeling reinvigorated to go another year in these plays.

[@IrishToes1]

Right?!! I don’t have much but buying the dip, keep Hodling bro

[@heatherjones3768]

I don't really agree that he is coming off as a shill. It feels to me like he is someone who has spent his whole career reporting on the system and seeing no change. He's been beaten down and so he sees the only way to not get scammed by the system is not to participate. And with the way things are, he's right to some extent. The system WANTS your money in the market. They WANT you to try to compete with them because they hold all the cards and 9 times out of 10 they're going to profit off of you. Good conversation regardless.

[@jessejimenez5605]

@@heatherjones3768 No, he's a shill. 100%

[@sydandtaytum]

omg, SHILL is the perfect word for this guy. holy shit he comes off so high&mighty and comes just short of saying 'well poor people shouldn't be able to invest in the stock market'

[@dereknz7895]

Thank you for shedding light on this issue. Wall street greed will cause the next " global financial crisis" it is just a matter of time. When it happens it will be the working people who pay.

[@atg1337]

Thank you Jon, this is the light we need. As far as this reporter, you should just have me come on your show.

[@willzsportscards]

'they are feasting on what is a simple transaction.' this is a systemic problem in America. Exact same problem with health care and doctor/patient relationship. We have 'parasites' everywhere in our markets .

[@chea7z913]

That's why the actual systemic problem is human greed. And the system that perpetuates this greed is called Capitalism. Our problems are so deeply rooted at the core of how we live, that it would basically require a complete lobotomy both literally and figuratively to overcome. God bless Jon for fighting the good fight, and I pray that it sparks meaningful change in our lifetimes. But man, the situation looks grim and I'm afraid our capacity for change will not be enough before time runs out for us all

[@jessx1007]

That’s not the problem in my opinion. Right now people are using technology to drive down a price of a stock, trap it with algorithmic trading software while shorting it on margin and making money while every person who invested looses

[@rocklee33221]

No one likes a middle man

[@IrishToes1]

Thanks John for pushing back, we’re in it to win it now, after finding all the corrupt ways the market is run!! FYI, there are plenty seniors in this game too, I’m 59 🤓 I’m really enjoying this investment/financial series you’re doing.

[@markday092009]

From the bottom of my heart, thank you John for what you’re doing.

[@JT__Media]

Keep reiterating that point John. The stock market has ALWAYS been a casino

[@JohnDoe-ll7sg]

The problem isn't that it's a casino, it's that the cards are being delt however the dealer wants.

[@JT__Media]

@@JohnDoe-ll7sg it’s always been a casino and the house always wins at a casino. Regardless.

[@JohnDoe-ll7sg]

@@JT__Media Time for reform. :)

[@cosmognaulati2016]

Where’d you find this guy? Or did his boss tell him to go on your show to put up a rebuttal to all the great work you’ve been doing? Keep it up Jon you stud!!!!

[@minderaser6564]

This dude is so disgusting. He's just proving our point: corruption is so endemic that the only way it ends is burning it all down.

[@JJDetroitfan925]

buy inovio we are trying

[@Auguur]

Well yeah, that is why we ended up with Trump in the WH.

[@InternetMameluq]

If you didn't know he was full of shit you'll know when he praised Gensler.

[@antennawilde]

He is like most, they don't understand how they are the problem. They are biologically devoid of understanding their own sociopathy.

[@ChaChingDream]

They did burn down a warehouse! :)

[@4hire565]

And that's a WSJ Reporter?... Fucking Hell, Thank you Mr Stewart!

[@thewalrus9196]

"It's just not true"-- Famous last words of Spencer Jakab's career.

[@AdemVessell]

So happy to have Jon back in my life. Truly.

[@tonylopetrone9828]

You’ve been spot on Jon. The whole system is broken!

[@jonathananonymouse7685]

I gotta say, I love having Jon back, dishing out a little information and asking a few pointed questions to people who have a clue as to what they're talking about. Way better than a whole bunch of other podcasts that'll go unnamed. Thank you, Jon.

[@BrutusTheOwl]

Part of the reason this works so well is that the poor have to spend all their time and effort to survive and don't have any left to bring down and change the system. While those at the top have all the time and energy to put towards making sure the system doesn't change.

[@noahbuddie]

It's exactly the same way with Legalese. An entire skyscraper of unnecessary overelaboration and complexity in order to secure an industry. I've gotta' stop being honest... There's so much more money in being full of shit.

[@robbert7599]

many of these white-collar industries feed on each other. i used to work at one of the biggest 4 CPA firms in the world, and a lot of the billable hours is because of all the financial engineering of wall street and figuring out how to account for it (and in many cases, act as accomplices ala Enron/Arthur Andersen). So it's a cycle that feeds on itself: wall street/banking -> accounting/audit/advisory firms -> legal firms encompassing both; and round and round we go. It's a complete racket and why I not longer work in that world. - the 'overcomplexification' of EVERYTHING in order to turn a buck bc the average Joe is too dumb to understand the game, when in actuality they're too busy working a normal job and trying to have a life without having to f_ck anyone over. As Brad Pitt's character in The Big Short said, "you know what I hate about banking? It reduces people to numbers."

[@Stethacanthus]

This is interesting. I can understand his argument of "If it is volume that makes their money and you can participate with low volume, participate with low volume to hurt them." What I don't agree with is that this will work in any real capacity. When that revenue stream slows, they'll find another way to get at your money and the same voices that told you to get an Index fund will say they need to take the next conservative approach to avoiding the next round of exploits. When Wallstreet executives treat investor protection laws the same way most Americans treat speed limits, that's inevitable. The system needs to be reformed, and that means some of the Invincibles need to go to jail, have their assets frozen, names tarnished, and never recover. Until then, fines are just tolls for these people.

[@sboeke91]

Wow! This is a fantastic interview! Being an “Ape” I have learned a lot about this whole thing lol. It’s cool seeing Jon discuss it. And it’s fascinating. I really really want a fair market. It’s ridiculous how complex these big boys make this system. And Spencer was a great guest. Loves how you two agreed and disagreed on certain aspects. Felt like a real conversation.

[@redhottoaster2434]

Apes everywhere!

[@PamTheTrader]

Thank you Jon for being the voice that we needed! #AMC and #GME to the moon! #ApesNOTLeaving

[@Secretary.of.Education]

The dude stood up hard for the 9/11 first responders...He's a real one. Thank you Jon. Run for Congress

[@PanchoVista]

If you imagine that this WSJ reporter is actually talking about his abusive spouse instead of the stock market, his words actually make sense

[@thomasbelen1966]

Genius. And true.

[@johnthompson6374]

This WSJ reporter reminds me of a wife justifying her husbands raping of their daughter while trying to appear credible.

[@patrickmaloney7296]

God I love Jon Stewart. Good on him for pushing back on this dirty smear merchant.

[@feydrautha012]

Jon, please do a segment about the relationship between commodity speculation and the cost of goods, particularly its relationship to the price of gas.

[@mystical7392]

Thank you Jon Stewart ... you exposed his bias and his focus. Continue to ask the hard questions Jon. The system as it exists is designed to " break" people.

[@DayDaysWorld316]

This guy really led with “I have no dog in this fight”. Sounds like he literally just walked out of a rehearsal with Ken Griffen.

[@LazyEyePolitics]

Wow. Just wow. He talks about how crooked Wall Street Is. It's a casino. Then he says, well Jon, what parts of Wallstreet shall we regulate? Just wow.

[@benduncan4669]

Oh look someone bought an paid by the hfs telling you to invest in index funds so the 1% can use your retirement as liquidity to make them more money...They really think retail is stupid

[@conoroneill8067]

Really frustrating to watch Spencer and Stewart talk past each other. Spencer's talking about how you as an individual can navigate the system and not get burned, Stewart's talking about structural reform. Thing is, they're actually both right, but they're talking about two different things.

[@mikehuff1601]

You are by far the scariest man to the corruption in this world. You pull back the curtain and show the bullshit. I’ve been a huge fan since ur early days and watched Comedy Central for the first time to get my news straight up from u. Watched every episode. Thanks KZbin. Keep doing what ur doing!

[@vivalaleta]

I didn't imagine that now I can win at playing the stock market. I got a sense that we could, even if accidentally, effect the machine - even momentarily hurt it. That's empowering.

[@slartibartfast2977]

That feeling is the entire problem that the, admittedly Wallstreet friendly, guy On the right was trying to explain.

[@rogersmith7396]

Wall Street with government financing is in a pump and dump. Now is exactly the wrong time to be in WS.

[@vivalaleta]

@@slartibartfast2977 And he was wrong not to see it which Jon kept pointing out. After the win moral people had a clue we can fight this shit. That is true and not an issue.

[@rockinbobokkin7831]

Good work Jon. This guy is clearly full of more BS than a cattle barn.

[@thomaslake7978]

Thank god there are people like Jon out there that can harness their personal outrage into a blazingly focused interrogation. It must be so difficult to work past the blind rage one must feel while engaging with this stuff, and Jon has been doing it for DECADES.

[@nickhastings7946]

Good on Jon for pushing back to “the system is what it is. Just get out of individual stocks and play Indexes”. Stop with the band aids and fix the system.

[@curtisasdasdasdasd7169]

90-95% of buy orders aren't registering because dark pools. When he talks about 'beating the house' he neglects the fact that the house is actively cheating and abusing the markets to their benefit. Casinos are regulated to an extremely high degree, but Wall Street isn't.

[@Qqxx22]

The cool thing about podcasts is that you can actually see a persons intellect (or lack there of). Where as a show like The daily show can only really display a persons surface level appeal, such as charm, charisma, humor. wit. cue card reading ability. We all knew Jon Stewart to have the surface level appeal but this podcasts really shows he has a lot of knowledge, well informed opinions, etc. thus making him even more authentic.

[@minnievenkat]

Even if you are invested in indexed funds, in a situation like 2008, you still lose money quickly. Not to mention your mortgage rates can go up. If you use your index fund like a bank account where you park your money, you are suddenly facing a run on the bank. If I wanted to see money grow steadily, we need higher interest rates at bank fixed account level.

[@rogersmith7396]

It was 5 1/4 percent for much of my life. Not exciting but trust worthy.

[@annalopinski4459]

He basically said “just stay out of their little corrupt game that makes them rich” 😒😒. Thank you Jon for pointing out the hypocrisy

[@bladestratford]

I'm close to Jon's age and been "investing" all my adult life. The stock market is indeed a casino without the free drinks. The advice to invest in an index fund mirroring the SP500 is indeed the best statistical play for 98% of all investors. I would also suggest automating your investments so they happen each month without effort. Treat it like a monthly bill coming out of your account.

[@mikemartin5340]

This guy rly needs to look back on the intentions from the beginning. Hasn’t done his research whatsoever. Roaringkittys original post calls out the excessive short interest on GameStop, and calls out the short squeeze that’s going to materialize. In retrospect, it is truly visionary. People laughed at him at the time. No research done. To label the intentions of “moving interest rates to 0%” to “get people to take excessive risks” is also just a horrible misunderstanding of our economic situation. Just totally in the dark

[@killzone866]

DFV never addressed the short interest. He and all of us fell assbackwards into that. He genuinely liked the stock

[@mexaloco]

The more I see these latest videos, the more I realize how little I know.

[@ryvyr]

Spencer is shifting and dodging more than an Animorph Gohan with Piccolo yelling at him~

[@jsmdnq]

There are people that believe money grows on tree's and it's ok to steal from that tree because it's just a tree... then there are sane and intelligent people that realize that theft is theft and it does real damage to the people who actually work to keep humanity going and rewards the psychopaths who think stealing from "tree's" is fun, exciting, and pain free. Unfortunately the sociopaths from the first case never learn until it is too late and no amount of logic, facts, and suffering of others will convince them they are wrong.

[@anthonychrobak4016]

That guy really said “Yea you apes REALLY wanna put a hurt on those shorts, close out and leave the market” like his SHF buddies aren’t about to collapse the whole system and need us to leave when we’re not. Jon did an amazing job and gave him some questions we all wish more in his position would ask these WS guys. He held his own and it was a great interview, this was some silverback ape content for sure

[@one-man-band]

9:17 I actually yelled WTF in my apartment