Financial Nihilism!

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An interesting departure from your usual rap-based content.

Financial nihilism is mostly an outgrowth from being told when growing up to get good grades in college, work hard, and save your money, then ending up saddled with 50k student loans, an offshored labor market, and a continually debasing currency. I’m not one of these nihilists but I 100% understand why they feel this way.

Grab of Plain Bagel in his rented lambo is chef’s kiss

"We come from nothing, we go back to nothing. What have we lost? $20 billion" - Bill Hwang

That’s what GameStop gets for giving me like $6 for two dozen PS2 games in 2003.

By that meme stock definition (which I feel is a good one), TSLA is like the OG meme stock, cause their value has always been divorced from reality.

I've spent almost 10 years being reasonably frugal and saving large portions of my decent paychecks and still feel like I'm no closer to owning a home or any form of financial stability. At this point I've pretty much given up, but there's many like me who would never buy a meme stock or crypto that just feel hopeless.

As a Costco member and shareholder, I felt personally attacked around ~20:00. I would die for those $1.50 all beef franks.

Wall Street Bets, “We make millionaires, out of billionaires!”

I think we all agree that the real return on GameStop was the friends we made along the way

I invested $700 dollars in game stop due to roaring kitty and cashed out enough to build a kick ass $4.200 computer all paid for by greedy short sellers. I might just do again if the opportunity arises.

Retail: ‘Financial Nihilism’ Institutions: ‘Speculation’ Everybody else: GAMBLING

The whole part about people feeling connected to work and feeling as part of something bigger is the first time you sounded put of touch. I work for money, all my friends work for money we want to be part of something bigger and feel useful but working in offices makes us feel empty, exploited and In most cases things our companies do are very far from our values. Noone is creating better future by being lower menagement at corporation. Most people I know sacrificed their interests and passions because raising cost of living makes it necessary to find the most paying job possible. I dont even feel i can choose a job, I just have to accept whatever is available to survive

I've lost all my hard earned money on that Plain Bagel guy. 3 Rockets emojis convinced me to invist in him.

ive spent my entire life seeing those who work hard and follow the rules rewarded with nothing, while the worst people imaginable cheat their way to success. At this point the system only exists to optimize success for sociopaths.

I can’t blame people for wanting a little bit of revenge on financial institutions, especially when the government seems to care more about them than its society.

QUICK PATRICK CHANGE IT TO GAMESTONK

I like the more cultured- centric writing in this episode! It's really interesting to have more qualitative aspects in a story too i think

I feel like financial nihilism is the result of decades of public conversation that discussed stock prices without discussing what stock is. I've made a habit of asking my friends and associates (none of whom are bankers) what ownership of stock is, and have rarely heard an answer that has anything to do with corporate governance. That seems strange and bad to me. On top of that, I've certainly heard plenty of gen xers talk about how stock prices are just a reflection of lots of people trying to game the system. So, from that evidence I'd say financial nihilism originated before the millennials were even teenagers.