16 minute read
RPIRG
Funding, support available
reese estwick
Advertisement
staff writer
The Regina Public Interest Group (RPIRG) recently announced that they are adding two new working groups, one with the University of Regina Psychology Students Association (PSA), and one with the Non-Profit Youth Leadership Network (NPYLN).
“Working groups are involved in projects or initiatives that fit within RPIRG’s broad mandate of social and environmental justice and have chosen to affiliate with RPIRG to mutually benefit from each other’s work. RPIRG provides them with small scale operational funding, as well
– Shae Sackman
as other types of support, to help them succeed,” said RPIRG Executive Director, Krystal Lewis.
These two organizations will be joining a growing list of RPIRG working groups.
“We currently have one other working group based out of Saskatoon called Nourish YXE, but over the years we have had several others. It is hard to quantify success of the groups because they have ranged from established non-profit organizations (such as SEARCH) to very small-scale local initiatives that might only serve a select community of people (such as the Heritage Community Association’s Two Spirit Group). But all of them work or have worked to take action to help address community or campus needs, which weren’t being addressed previously,” Lewis said.
As stated by Lewis, these new working groups fit within RPIRG’s board mandate of social and environmental justice, with each group providing unique opportunities and supports for different people and groups.
“By supporting and promoting student initiatives like this, a wider network of our student members can learn about their work and how to get involved. They offer programming and services that can benefit our members,” said Lewis.
Shae Sackman, President of
the Psychology Students Association, explained how the PSA’s decision to partner with RPIRG was multifaceted. “First, I wanted to demonstrate the PSA’s seriousness in our mission to support students. A way to provide funds to students studying psychology was a top priority and RPIRG’s belief in what we are trying to do, and their resources are such an asset to us.”
Supporting other students, while developing a strong foundation on campus can be trying work, especially in this world of online learning.
“Secondly, because the PSA has worked so hard through the remote semester, lots of other groups have seen what we’re up to and have begun talking to us. Demonstrating that student-led groups can not only obtain funding but support from an organization like RPIRG is something I felt was really important to show other students,” said Sackman.
While the PSA plans to use the funding and resources provided by RPIRG to directly support students, the Non-Profit Youth Leadership Network plans to use this funding to further grow their organization and provide training for the Executive Directors to ensure that students can be best supported and represented.
“RPIRG’s support has been invaluable in offering new ideas,
new contacts, and resources that can be used to better our organization. I’ve been very thankful for RPIRG’s variety of funding options, all of which we can still apply for even though we are getting working group funding as well, such as conference/training funding, which we are using towards training our executive members,” said Emily Lints, NPYLN Executive Director and founder.
As the purpose of these groups are to provide people with opportunities, these partnerships are so valuable; they expose people to opportunities that they otherwise would not have been aware of.
“I feel as if a lot of students at the U of R have amazing ideas and projects in mind, but they either don’t know what’s out there in terms of support or resources, or they’re lacking that person to just say ‘yes, that’s a great idea’ to them,” said Sackman. “The PSA’s work with RPIRG creates more opportunities for students because it allows our board to take very seriously the values of growth, opportunity and support that we have as an organization. RPIRG’s support lets us turn our ideals into values we can concretely demonstrate.”
Both the PSA and NPYLN expressed how this partnership validates their hard work and allows them to continue growing
and developing their networks.
“Being a RPIRG working group gives us more exposure to U of R students who might be looking to take advantage of our offerings. As well, it provides us with a better way to connect with U of R students and clubs in our consultations, trainings, and more. Utilizing RPIRG as a resource is perfect for student organizations just starting out and looking for some initial funding,” said Lints.
As many students are constantly looking for ways to get involved both on and off campus, RPIRG’s development of working groups in a variety of areas of interest has created many opportunities for student involvement and engagement.
In this online world, it is now easier than ever to connect with other people from across the country and find opportunities within your area of interest.
“We list our working groups on our website and try to highlight their programming and work in our monthly newsletter and on social media. Students can contact the groups directly or ask us to help connect them based on what interests they have,” explained Lewis.
“Our recent Research Reading Group is actually the first project a general member brought to us, and we’re so excited it’s start-
ed. General members can join us on URSU’s Universe website. Our board elections will happen in March. The best place to check for information and updates on all this and more is our social media, or our website at ureginapsa. org,” explained Sackman.
To get involved with the NPYLN, students can find the organization on social media @ npylncanada or visit their website to join our network “After joining, students will be able to take advantage of our wide varieties of sessions, our Canada-wide network, and viewing new opportunities in the non-profit sector from across the country,” Lints said.
Green globe made from puzzle pieces with RPIRG in lowercase.
War on Drugs is catastrophic
matt thomson
news writer
Wikipedia Commons
Naloxone kit plus syringe
Saskatchewan, the province I’ve called home for my entire life, has a clear and well-documented issue with substance use. That information is nothing new. Plenty of fine journalists and writers before my time have written better articles than I ever could on our province’s long-standing struggle with this crisis and its consistently inadequate attempts to solve it. Our provincial capital, Regina, has seen substantial increases in narcotics use and overdose over
the past ten years, an issue that has become more acute with the rise of fentanyl and other highly potent opioids. I myself was confronted by our city’s systemic substance crisis just last Tuesday when I became the unsuspecting victim of a home invasion and near-witness to a methamphetamine overdose, an experience that only served to remind me that this issue effects us all.
Prior to the onset of the COVID-19 pandemic in early March, Regina was already one of the worst regions nationally for substance-related crime and deaths due to overdose. According to recent statistics from the Saskatchewan Health Department, Regina reported 177 confirmed deaths due to drug related toxicity in 2019, up six from the previous year’s 171. According to a 2020 report from the Canadian Centre on Substance Use and Addiction, the overwhelming majority of these deaths were the result of an overdose of fentanyl or opioids. Unfortunately, the crisis has only grown worse in the wake of
the COVID-19 pandemic. Since March, Regina has had at least 172 confirmed cases of death due to overdose with another 207 possible cases. Assuming that even a third of these cases are confirmed as overdoses, 2020 will have been the deadliest year in our city’s history regarding substance related fatalities. As well, drug and alcohol consumption have both risen drastically in the past year, and, so far, the numbers show no sign of change.
The rising numbers can partially be attributed to the general malaise the public has experienced throughout the course of this pandemic, but that still does not explain why the numbers remain so high. The biggest contributors to this staggering loss of life are the same as they’ve ever been, neglect, apathy, and a lack of investment in resolving the social determinants of drug use. The Saskatchewan government has shamelessly cut funding for crucial mental health facilities and programs for the better part
of a decade now, and with the Sask Party’s iron-tight majority still intact, the situation is unlikely to improve. Adding to an already dire situation, the many mental health and addiction services were shut down or seriously restricted during the initial rounds of quarantine, a time when these services were needed more than ever, and were refused essential status for nearly two months. During that same period, liquor stores and most major retailors remained open.
Instead of siphoning tax payer dollars to subsidize a rapidly collapsing fossil fuel industry, granting corporations like Bell Media massive tax cuts to maintain hellish monopolies, or pouring more gas on public dumpster fires such as KXL and privatization of healthcare, the government at every level needs to seriously commit to investing in mental health care and addictions treatment and ending the disastrous War on Drugs. Substance use amongst Canadians is
at an all time high, our nation’s youth are dying at a staggering rate, and the solutions are staring us right in the face. Studies across the globe have proven time and again that public programs such as needle exchanges, safe supply, supervised consumption, easier access and increased funding for mental health centres, and refocusing on rehabilitation rather than criminal punishment are tried and true strategies in preventing substance-related deaths. During my encounter last week, what shocked me the most wasn’t the fact that a stranger had barricaded himself in my home, the giant knife in his bleeding hand as he stammered nonsense, or my inner thoughts betting whether I’d have to resuscitate the poor guy in ten minutes. No, what shocked me was how unsurprising, unexciting, and blasé the entire situation felt. I had seen too many news reports on crime statistics, had too many encounters with victims begging for a single cent, and witnessed too many
broken and grieving families not to expect this sort of experience. I watch everyday as the desperate and the downtrodden walk past my building to wait for a bus ride they can’t afford before a string of BMWs and lifted trucks drive by. After the police knocked on my door and the terrified stranger was peacefully detained and removed from the premises, I didn’t feel fear or sadness. To be perfectly honest, I felt angry and hollow, and I felt like I hadn’t done enough to help him.
– Matt Thomson
The house always wins
matt thomson
news writer
In 2008, I was a 12-year-old kid with a love of Bill Watterson’s Calvin and Hobbes, a penchant for binging Fallout 3 or Call of Duty 4 for hours on end, and absolutely zero understanding of the stock market and Wall Street economics. Yet still, I remember with astounding clarity the level of gloom and doom on every news broadcast and publication during the Great Crash of the global housing market. I recall my dad standing in front of the TV shaking his head, arms crossed, with an expression between disbelief and disappointment on his face as reporters detailed millions losing their jobs and the collapse of several major banks. As he attempted to explain to me what was happening, I can imagine how frustrated he was having to watch everyday people suffer as those responsible escaped justice while pocketing billions in tax payer bail-outs. Thirteen years later, though, a relatively small group of amateur traders managed to enact a powerful, albeit brief, act of revenge from the unlikeliest place on Earth, Reddit.
In late 2020, users on the subreddit r/wallstreetbets, a chaotic sub dedicated to amateur stock trading, finance memes, and losing copious amounts of money (yes, really), adopted Wall Street’s own investing strategy and used it against them, causing some in the one per cent to lose billions in potential revenue. For a couple weeks, the subreddit became the primary focus of news networks while billionaires and hedge fund managers cried foul through gold-plated dentures without the slightest hint of irony. Many like myself who had no idea what was going on laughed as the richest of the rich finally got a taste of their own medicine while GameStop’s stock prices rose for seemingly no reason. This tiny bit of happiness, however, was not to last. After a collaborative effort by some of Wall Street’s largest institutions, many buyers were spooked into selling their stock through what can only be described as a pile of market manipulating-bullshit, and for now, the status quo has unfortunately returned.
Alright, so how exactly did a bunch of meme-lords and neckbeards cause billions in loses for the one per cent? Well, let’s start with some amateur dictionary definitions. For those who aren’t in business school or haven’t seen The Big Short yet, a short is when a trader, often a hedge fund, essentially bets that a stock will decrease in value, which, if it does,
then nets the trader by however much value the stock has lost or vice versa. Shorting is a fairly common and standard practice in the stock trade, however, mass short-selling often leads an already struggling company to fall deeper into a cataclysmic downward spiral. So, when shorts are sold on a large scale by major hedge funds, this correlation becomes an intended side effect that allows the biggest players on Wall Street to effectively cheat the system and manipulate the market to their benefit. Basically, it’s as if a black jack dealer gave themselves an ace any time you flip a ten.
Unfortunately, these sorts of border-line illegal tactics are nothing new to the feudal hellscape of Wall Street. While the rest of the economy tanked in early 2020 due to the pandemic, hedge funds have made literal trillions off the shrinking profits from dozens of companies and businesses since March. Despite the fact that millions lost their jobs and the global GDP has sunk significantly, the ever-opportunistic one per cent lined their pockets by shorting the economy only to then use their profits to lobby governments for further tax cuts. It was 2008 all over again, only this time people were dying, money was even tighter, and the public’s hatred for Wall Street shot to record heights. After the third financial quarter of 2020 passed, several Wall Street hedge funds, namely Melvin Capital and Citron, turned their greedy
– Matt Thomson
mitts towards the retail market yet again and began shorting major retailers en masse, especially mid-level companies such as GameStop (listed as GME on the stock market).
For whatever reason, targeting GameStop turned out to be the final straw for some, and beginning in early January, r/ wallstreetbets decided to turn the tables. Users from the sub began buying GME stock in droves through commission-free trading apps such as Fidelity Investments and the now infamous Robinhood, and within days their investments caused shockwaves throughout Wall Street and garnered a snowball effect across the market. Reddit didn’t stop there, though. Using the profits from GME, many amateur traders began investing heavily in other failing companies such as the theatre conglomerate AMC, defunct tech giants like Blackberry and Nokia, and the crypto-currency Dogecoin, which was literally created as a joke.
Hell, even Blockbuster saw their stock price rise from $0.004 to 42.1 cents per share in less than a week.
These massive waves of investment, combined with buyers’ refusal to sell, caused a general short-squeeze (when traders are forced to sell their shorts back at a loss) across the board and ended up costing hedge funds billions of dollars. Around this point, billionaires, such as Leo Cooperman,
and CEOs took to major news networks claiming victimhood and demanding that Washington step in to bail them out (so far, Washington has remained relatively quiet on the issue). By January 27, GME price hit an all-time high of $347.51, a mind-boggling increase from $19 per share on January 1. Melvin Capital and other mid-tier hedge funds were pushed to the brink of bankruptcy, and the internet celebrated another underdog victory.
Alas, this brief hit of collective schadenfreude was not to last. Beginning on the 28, trading apps began restricting users from buying GME or similar stock, including Robinhood which allegedly sold some users’ stock without their knowledge or consent. Alongside other illegal acts of financial rubber-banding, many amateur stockholders panicked and sold their shares, causing another snowball effect in a downward trend. GME sunk to $193 by the end of the 28, and while the stock price temporarily bounced back to $325 on Friday, the writing was on the wall. Since then, GME has continued to slide back to its pre-bubble price, sitting at around $90 at the time of writing. While that’s still almost five times more valuable than it was a month prior, it seems the fun is over, at least for now.
So, what exactly did all this tomfoolery accomplish? Shortterm, a lot. Long-term, probably not much. Sure, Melvin Capital and several other hedge funds have lost billions so far, but without the introduction of substantial regulations and, God-forbid, the real possibility of another tax-payer bailout, the Wall Street’s corrupt power-structure will remain intact. For r/wallstreetbets, while some early investors managed to make an enormous profit from all the chaos, the rest have lost hundreds and even thousands of dollars to simply make a short-lived, albeit justified, statement. Lastly, the public was reminded yet again of Wall Street’s true nature: a bunch of rich assholes who’ve rigged the entire financial system to benefit of themselves and only themselves.
In short (haha), the stock market is still a giant casino with even worse odds and without the slightest bit of logic. If the last 1000 words haven’t convinced you of that yet, here’s an interesting anecdote; Raven Thorogood III, one of the top 100 investors of the last twenty years, was a literal chimpanzee that chose investments by throwing darts at a random list of stock picks while blindfolded.
Wikipedia Commons
GameStop storefront.
