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Tag Archives: capitalism

I. On the Ground

It was like watching someone at a party explain why William Gaddis is great. Under that famously strong Dutch sunshine (said no one ever), Pecco Bagnaia again justified the common wisdom of what’s increasingly felt like a foreordained second MotoGP championship by controlling his second premier class Dutch TT victory from the front. It’s easy to see in hindsight how he drew in Marco Bezzecchi — the only other rider with a serious chance of beating him — just close enough before pouncing on Brad Binder and leaving Binder as a roadblock for Bezzecchi to deal with while he gapped them both; hell, it was easy to see in real time. We already knew the guy liked the place (a tattoo of the circuit layout on his arm in honor of his first win aboard a Moto3 Mahindra back in 2016 gives that away), but this one felt textbook to the point that merely seeing the result suffices.

Ever read J R and then try to talk about it with other people? That thing’s the sort of tedious masochism people will just yes you to death over because they don’t want to read it themselves, but also: They don’t really believe you because how could a book about a middle schooler amassing a business empire built on pennystocks told almost entirely in impenetrable dialogue be better than Lord of the Rings? It’s a boring discussion that would likely have you walking away doubting yourself because just listen to yourself.

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The body is the temple of the LORD.

“The guy who kills me, I hope he does it because he hates my guts, not because it’s his job.”

“You’re dying. Do you know that you say that to me every day of your life? You’re not dying, you’re killing the people around you, is what you’re doing.”

Just like us: they’re doomed, and they know it.

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Jeff Goldblum Explains How Dr. Ian Malcolm Was Way Ahead of His Time in  Jurassic Park
Courtesy? None given here.

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. 

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Ned Beatty as Arthur Jensen in Network (1976)

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. 

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