Bear with me while I ramble about an analogy that may take at least 2,000 words to explain. This is a world I’ve been exploring for the past three months, and I’ve been having fun learning about it thus far. Coming into the game this late, I believe I’ve been seeing it in a unique light, different from how most people see it. Money — the thing which makes our world go round — is much like the forces that govern fantasy worlds. Many seek its power, but few harness it. (more…)
Silvergate, Silicon Valley Bank, and the Threat of Contagion
It’s high time I write more about finance on this blog. Unlike the last time, when I wrote about the GameStop short squeeze of January 2021, I now have actual skin in the game. For the past three months, I’ve been getting into stock trading, and it has been both a blast due to the learning experience and a stressful experience due to the initially losing trades. I knew what I was getting into, but I didn’t know that I was going into a market that was scarred by the ravages of 2022. Let’s talk about bank runs and the ongoing nightmare of the 2023 market. (more…)
WallStreetBets, GameStop, Robinhood, Dogecoin, WTF?
As you read this, you might’ve heard the news by now. Wall Street is currently in chaos, even more so than the #OccupyWallStreet protests of almost ten years ago. While that consisted of picketing and civil disobedience, which could be curtailed and discouraged by police action, this unprecedented event in Wall Street history is done by turning their weapons against them, thanks to an online community called WallStreetBets. (more…)
8 Videos and Films on Financial Disasters
Amid financial ruin, Greece just had their bailout referendum on whether they will agree to the conditions set by the European Commission, the International Monetary Fund, and the European Central Bank (they voted no). Elsewhere, stock markets in China have experienced their biggest plunge since 1992. The last great economic recession we’ve had was back in 2008 with the American housing crash, and we may be in the verge of another one. If you don’t know what any of this means, then perhaps it’s time to learn a bit about financial disasters and how they happen. (more…)