On January 27, 2021, GameStop (GME) closed out at its highest stock price at $347.51/share since the reddit community of r/WallStreetBets (WSB) sent the stock soaring, in their nomenclature, “to the moon,” a curious phenomenon that many within the mainstream press gave revolutionary significance due to the working and middle class status of some of the volatile stock’s big winners.
I wrote last year that despite some of its “populist” character, the supposed gatecrashing by lay people into Wall Street was nothing more than a bubble created by Wall Street actors and carnival barking billionaires in which some previously precarious individuals made instant fortunes while many others lost their shirts. In the year since the GameStop rollercoaster, the increasing presence of words like “crypto”, “DeFi”, and “NFTs” has come to dominate the fintech space. This emergent language has filtered into the mainstream due to the opening of a portal into the long-prophesied techno utopian dream known as the metaverse.
Wall Street in the American imagination is simultaneously held in a state of contempt and awe. It’s the site of both magic and misery.
The name “Wall Street” itself has become a shorthand to denote the capitalist class. Yet, Wall Street is only a segment of this class, known as Finance Capital.
Finance Capital has become a growing segment within capitalism since the 1970s due to the decline in American manufacturing. Manufacturing took a dive during the 1970s in America due to the postwar recovery of European industries and the emergence of Asian competitors. Big swings in oil prices during the OPEC crisis of 1973, as well as inflationary spending from the Vietnam War, also broke the halcyon days of American prosperity, to which many politicians and their constituents today look to return rather than an anachronism.
What is “inessential”? Pieces of trivia are, by nature, tidbits and factoids that at best connect two seemingly disparate ideas to each other but, perhaps at their most quintessential, elicit nothing more than a “Huh, didn’t know that” from someone. There’s a reason trivia is (usually) a popular way for bars to kill time and fill people up with Miller Lite on non-sports nights; take that concept, turn the answers into questions, and voila: you’ve got a long-running syndicated game show.
Answer: this television figure, who died on Sunday at 80, hosted the longest-running iteration of Jeopardy! for 36 years. Who is Alex Trebek? Well, to many, he is so much more than the game show with which the rest of us will forever associate him.
First of all: Hello. How are you doing? Are you safe and sound? Do you have what you need, or know how to get what you need in responsible fashion? Have you acclimated to the sounds of sirens happening all around you, or at least to the dull murmur of people performatively reacting to those and other things that will never affect them personally on television? Cool and good < A phrase you may or may not use when looking at anything happening in the United States of America in response to a literal plague befalling those of us lucky enough to inhabit the land of hope and dreams.
Keeping in mind how much all of that is relentlessly destroying us, particularly how much money people accumulate who don’t particularly seem to have any utility for it beyond “Hey I have more money than you do lol,” and also ahead of a particularly enticing documentary premier on behalf of Mickey and friends Sunday night – The Last Dance, an unprecedentedly in-depth look into the 1997-’98 Chicago Bulls season – let’s talk about Michael Jordan’s house in Chicago.
***This storyline is ever changing. Every day there seems to be a new development and the rollercoaster of emotions is not stopping. Check back in from time to time to see my updates and newest thoughts. Or don’t. But I prefer you do because that way I don’t feel like I’m alone in this***
At last, the greatest combat sporting event is upon us. Yes, you are correct: I did predict this event would get done this year. Please, save your applause and congratulations, though, because I was incorrect about the date. We shoot for 100% accuracy around here, and settle for nothing less (If you feel compelled, please throw me a follow @derekjbeaupre and let me know how brilliant I am there).
“Derek! You were right! It’s happening!”
“Derek! Are you even sleeping with your level of excitement?”
“Derek! Has your girlfriend left you yet because you won’t stop yelling about Conor yet?”
Thanks, I know. No. And not yet, but we’re teetering.
Last week I got to watch the Eagles and Raiders play football at my favorite bar with my favorite people while drinking my favorite drinks. From a life perspective, last Sunday could not have gone better. Read More
Hey. You know what today is? The 15th anniversary of The Strokes entering our lives and making it the world a better place? Yes, true. But also, less importantly, it’s the 25th anniversary of my entrance from the void into reality.
Another week, another day of me being late on picks. It’s a tale as old as time. But this week I like to think I come with good reason: Last night was the first night of Meadows fest in NYC and the premiere of the new season of SNL. And tonight (indulge me for a moment) I get to see Chance the Rapper and Kanye West. Read More
Oh hey there! Whoa, been a while. Sorry about that. For anyone who took the Under in“How many weeks until Tyler is inconsistent with his gambling column,” congratulations, strong bet. Collect your winnings at the nearest window.
Football is back. Can you believe it? Last night, sitting in my favorite bar with two of my favorite people, I got to yell “WIDE LEFT” drunkenly at a muted television screen just before Graham Gano made contact with the football and turned my words into reality and an 0-1 start to the season for the Carolina Panthers.
I felt alive.
And now that football is back, so is the Hypothetical SuperContest. It’s our fourth year here! We’ve had our ups, our downs and probably a few to many references to Jon Gruden. For those that have been here from the jump (Hi Rory! Hi Dad!): thanks so much for supporting my degenerate dreams. For those new to this space, welcome to my gambling nightmare.
Well, it’s not necessarily a nightmare. Not every week at least.