Category Archives: juxtaposition

Gamestop will be the single largest wealth distribution in United States History

Late in January 2021 the short stock squeeze on hedge funds by Reddit subforum r/Wallstreetbets became a national story. The primary narrative seemed to treat the conflict as a novelty story about the insights and cheek of the uninformed masses investing on their phones. This may be a risky prediction, but I think that next week the majority of Reddit investors will hold and the eventual consequences will result in the single largest wealth distribution in United States History.

Mohammed El-Erian writes a good summary of the showdown that is happening and the stakes for the large scale financiers in Bloomberg:

I’m not strong on translating business-speak, but I think he is saying that if the Gamestop shareholders continue to want to buy the stock (not just hold it) and some short purchases still need to be fulfilled, then the value of the stock could continue to rise. And that could wreck one or more of the money making jam boys on wall street.

A casual stroll through Reddit will give you some good examples of the palpable poor-vs-rich anger. Reading r/Wallstreetbets is fascinating for the insider language, the shared sense of purpose and the dual denigration of the community and pride for it’s newly-found capabilities.

Note that the subforum is called r/Wallstreetbets. There is another forum called r/stocks and hundreds of other Reddit investing subforums. The name of this forum betrays the gambling nature of the investment stories and the big wins and losses which make this story so attractive.

Here are a couple of screenshots from the forum with some particular linguistic and representational frames that are worth note. (They are also potentially offensive).

This is insider communication telling the story of the moment to themselves. The community is self-articulated as small-time investors, angry at large hedge funds. The participants seem mostly interested in making visible the disparities of the capitalist system. They call themselves “retards” and “autists” partially to obsure the notion that they are giving financial advice. The reference to apes is shared identity with Harambe the murdered ape imprisoned in the Cincinnati zoo.

They are almost always offering palliative advice. Everyone I know has experienced so much pain and suffering because of debt. Health care and education debt, extra-long work hours and exhaustion from a combination of an economic system that asks more and more from us while offering less of a safety net. The raw anger of the “guy who lives in his truck” and u/space-peanut can be felt. Their motivation is vengence – to not only hold, but to “buy the dip” to continue to invest in the stock for the purposes of enacting revenge for the damage already done by the capitalist system.

Buying the stock is getting harder and harder to do as the trading app Robinhood froze purchases and then throttled users to a single share per day on Friday. The realization that the company was preventing the movement from access to the stock (seemingly to protect the hedge funds) created enormous anger and a quick move to use those investing tools that allowed small investors to buy Gamestop stock.

I’m not alone in thinking that there is a showdown coming this next week, and the press will continue to talk about the inevitable run that will come when some of the larger stockholders sell the stock in order to recoup their now astronomic investments. But I’m not sure that many of the die-hards are going to do that. I think they “like the stock.”

Reading R/Wallstreetbets, one of the users whose posts zoomed to the top of the page is u/Deepfuckingvalue a user named Keith Gill. u/Deepfuckingvalue posts single images of his stock portfolio daily holding gamestop stock showing a 30-40 million dollar investment portfolio. It is a persuasive representation of the enthusiastic rewards for this kind of clubhouse community of seemingly-irrational investors. Watching Gill’s youtube video explaining why he thinks you should buy Gamestop is rational, persuasive and prescient.

U/Deepfuckingvalue argues that Gamestop is likely to stick around because people will shop there and the store will make money. He defends against digital video-game purchases, articulates management changes and basically does wonky due diligence. Around 39 minutes they begin forecasting what the stock might do if people invest. Worth a watch.

Note that this video is from July. The reddit folks who were hipped into this moment have had six months to slip into a few Gamestop shares at prices from four bucks to above four hundred bucks. Quite a few users on the forum have presented their spreadsheets of gamestop changes showing hundreds of thousands of dollars of gains and a shared enthusasm to hold the stock.

I think that a few folks will sell a few shares to get some cash to pay bills or floss their new found wealth. But I bet that the majority of folks will keep the majority of their shares. Others, excited to be part of the community of Gamestop stock owners will be ready to buy the stock even at the inflated price because it comes with a lot of extra value from the moment. But I think they are thinking that they will get to own a long-standing business in their community, not stock that they’ll sell when it is convenient.

I think that that individual investors will continue to seek out nostalgic businesses that have been marked for decline by hedge funds. AMC and Bed Bath and Beyond appear to be part of this redemption story because they hit the sweet spot of businesses that people want to defend from destruction and because they have been shorted by hedge funds.

This may point to a kind of crowd-funded community development opportunities. In the past most small investors have been sway to the moves of the market. If your local grocery store went out of business you might have to drive 45 miles to shop somewhere else. The ability to quickly invest money to keep businesses afloat because we need them hasn’t been available before this. I wonder if the abiliy to save a few chain corporations from bankruptcy will make a dramatic difference, but it is an interesting change in presumed power and maybe it will prevent a few food deserts.

But we also are going to see a huge series of changes from this moment because a couple of billion dollars is moving from hedge funds to a lot of previously-small scale investors in Gamestop. These Gamestop millionaires are going to going to make a big impact in the financial and cultural moment of 2021.

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Axe and misogyny: They view it as a war to defend white supremacy

On January 6, supporters of the sitting president of the United States attacked the United States capitol and rioted inside the building. The stories, images and fallout are all visible and well documented. Here is how I understand that we got here:

In the 80s, republican operatives, mapping demographic changes and voting assumptions began to see rising numbers of people of color as a threat to the electoral power that they had held. Billionare conservatives started funding very specific media sources (Breitbart, Fox News, Daily Caller) to make money from a new market – white people who could be made angry about changes for justice in order to create an enthusastic white supremacist voting block to keep republicans in power.

In their mind, there were just a few short decades to go until the showdown, so they strategized in a couple of very focused ways to ensure that conservative business leaders could resist.

  1. They funded, fostered, nurtured white anger against people of color at every opportunity. Using the axis of race, right wing journalists could re-articulate crushing poverty as the fault of the gains of people of color. It was the Southern Strategy on steroids.
  2. They invested heavily in controlling the courts. Federalist society, nurturing young conservatives, scholarships, mentorship, and guidance to create targeted young right wing ideologues ready to carry the white supremacist mission long after they are dead.
  3. They worked hard to win state legislatures, and use gerrymandering to minimize the power of voters that didn’t vote republican.
  4. They succeeded in establishing a relationships to politicize videogame players and an emerging online troll culture to embrace the symbols of white supremacy with ease and comfort.
  5. They absorbed / hijacked the Republican party in the 2010s and reassured the traditional elements of that coalition that the gains in power would be worth the harm to the nation. Corporate donors, philanthropists, government agencies, and many others became complicit in a full-fledged white supremacist government structure working under the Trump administration to do active harm to people of color at almost every turn.

Here is where we often get it twisted. The justifications and explanations for each of these activist strategies are fairly well documented. The key question is how do a small number of very privileged republican organizers spin this strategy? What do they specifically say and to who – these questions can be part of the educational work to innoculate future fascist moments. In this case, the narrative of white supremacy was the only communiciation strong enough to push working class white people to harm people of color and it was buoyed by hatred of women and an anger at lack of white solidarity.

There are a lot of issues of accountability that will be navigated in the next few weeks. Criminal charges for those who killed a cop, resignations from those leaders who are identifed as responsible (or those who are scapegoated). And this rupture will open the space for new policies that will often have profoundly negative implications for people of color, poor people, women and disadvantaged folks (increased surveillance, new anti-terrorism laws, policing in communities of color etc). To rush into policy-making without reflection is a terrible path forward.

We should take stock of the recuperation efforts. Examine those who played a role, or had been connected to the violence and some-how are attempting to detatch themselves. We should be asking how the invitation was framed such that it made sense to so many people. But finding access points is important.

My first off note about this was Strava – the bike riding app told me that it didn’t support the insurrection against the US government and weren’t cop killers in an announcement at the top of the app. Well yeah . . . you are supposed to be an app that tracks my cycling miles, I hadn’t honestly assumed that you were in favor of a violent overthrow of the government by Nazis and their allies.

“What we saw in the US Capitol this week was the antithesis of what Strava stands for,” the letter read. “It was internal terrorism and we denounced it. Whatever the limits or flaws our democracy may have, we believe that we must protect it. ”

“This is not about politics. These are fundamental principles in which we deeply believe: treat ALL people with decency, respect and fairness ”. says the letter. “When you joined Strava, you joined a global community of athletes who are in line with our community standards: respect each other, respect the rules, and be inclusive and anti-racist.” (Sidenote: it looks like Strava disappeared this note almost as soon as it was made. The only reference I can find to this quote is from a weird fitness webpage that is giving me fascist vibes . . .)

We can probably distinguish those corporations who took a serious loss from their de-platforming of Donald Trump from those who chose the moment to try to forward their brand. In this case, we are talking about a corporation that commented on the attacks either for their own gain or to protect themselves from public relations losses.

Axe Body Spray for instance.

Axe Body spray is the worst. Not only in aroma, but in the toxic sexist rape culture advertising that has been marked, mocked and mapped. I’m not surprised that Axe body spray had to respond – they must know that the bogus entitlement to sex because you sprayed yourself down with duck urine is tied to the entitlement of those who tried to murder Nancy Pelosi.

“We’d rather be lonely” is the most minimizing and trivializing read on the events of January 6. To understand that Axe would go without their body spray rather than be affiliated with the murderous nazis and that they still have time to indicate that it would make them lonely is grotesque. They still want you to know that if you don’t wear Axe Body Spray you won’t get laid . . . Axe sells entitlement and in this case, a multinational corporation’s PR team put it clearly that this one was too far (but all the other normal entitled crap will continue).

I think that whoever run’s Axe’s twitter handle might not get the depth of this moment. But then again neither did the men who came to DC to murder uppity women. For instance Cleveland Grover Meredith Jr. The investigating report indicates that he voluntarily showed Federal agents text messages planning to kill Speaker Pelosi.

“How much u give me to go trench the Capital lawn with ma big truk?” The other participant wrote, “Don’t do it.” MEREDITH replied, “I’m gonna run that CUNT Pelosi over while she chews on her gums.” Later in the conversation, MEREDITH wrote, “Dead Bitch Walking. I predict that within 12 days, many in our country will die.” (https://extremism.gwu.edu/sites/g/files/zaxdzs2191/f/Cleveland%20Grover%20Meredith%20Statement%20of%20Facts.pdf)

Misogynistic slurs have been uncovered and amplified in the quotes of those who drove to the capital heavily armed with a desire to do harm. The centrality of violence against women is really tied to the logic of the transgression of violating the capitol. The goal was similar to the early 1900s strategies of faux-assasination communications attentat – to illustrate the potential for somene to be harmed. To illustrate that a president or a king can be reached and to strike fear.

We could also examine this from the perspective of the domestic violence literature. Understanding the power and control wheel and the transgression of safe spaces to induce terror. Abusers will communicate in many small ways that the abused is not safe – including by invading previously safe space to communicate disempowerment.

There was no way to understand the photos of the dude with his feet up on the desk outside Speaker Pelosi’s office and his initial encounters with the press documenting his take on the event. Barnett is his name and we can match the entitlement and joy in transgressing with is deep hatred of a powerful woman.

BARNETT states “I did not steal it. I bled on it because they were macing me and I couldn’t fucking see so I figured I am in her office. I got blood on her office. I put a quarter on her desk even though she ain’t fucking worth it. And I left her a note on her deskthat says “Nancy, Bigo was here, you Bitch.” (https://extremism.gwu.edu/sites/g/files/zaxdzs2191/f/Richard%20Barnett%20Statement%20of%20Facts_0.pdf)

Donald Trump has articulated the hurt done to white men in several divisive ways, but the deeply sexist and racist framings he has presented seem to have tracked well with the people who showed up to do harm on January 6.

Challenging white supremacy means contesting the common-sense nature of the dialogue. Fragmented social media (where people can bury themselves in media which affirms their point of view) has reached a point of insulation – where it can protect harmful ideas from critique. This means that unpacking white supremacist (ill)logic means navigating the ways that sexism and racism co-create this moment of deep entitlement and violence.

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Filed under capitalism, communication, critique, gender, intersectionality, juxtaposition, media, police, protest, punishment, race, representation, resistance, rhetoric, sexism, sexual assault, Surveillance, videogames, vulnerability

Stooges: Look out honey cuz I’m usin’ technology!

Let this be a warning to you: you will turn your back on the Stooges three times before you realize your mistake!

I was a young punk and I didn’t like anything that wasn’t what I was currently playing on my cassette deck. The stooges just didn’t fit. They clanged out with punk that sounded too rock and roll to my purist ears. And the well-published Stooges story was all about punk as destructive front-man, a trope that I felt should be retired. At the time I valued music that was political, organized, focused and sober – pretty much the opposite of the Stooges.

My second invitation to listen to the stooges came when I taught for a summer at the Michigan Debate camp. The faculty (gathered from around the nation) were all housed in a recently renovated apartment building that was rumored to have been Iggy Pop’s. It was claimed that our apartment was Iggy’s and that I was staying where his old room had been. Payday at the end of a month-long gig was an incredible moment of consumerist joy and I remember weighing an Iggy and the Stooges CD, but putting it back in lieu of the 4xCD Stax/Volt box set (which changed my life).

Reading Gillian McCain & Leg’s McNeil’s book Please Kill me was my third chance to dive into the Stooges catalog. So many terrible stories of Iggy’s destruction and the aspirations of a generation trying to tell new stories with new sounds. Recording an album in Berlin with David Bowie that dabbles in gender play (a song called penetrate on a 70s rock album isn’t that unusual, but that tune is about Iggy being penetrated. )

Having been a music fiend my whole life, and with an origin as a frugal yankee, I look for the cheapest media with the coolest music when I’m buying second hand. I started buying a lot of records 20 years ago because you could get Stevie Wonder’s best songs for pennies at yard sales. In the last 5 years CDs have become useless to most people and they started selling a buck a pop or even less.

I spent a lot of my life desperately saving enough money to buy an $11 CD in a record store. To see an album I’d always wondered about for so cheap . . . sucks teeth. Which is how I found myself in a pandemic with a couple hundred CDs that I’d stacked up in a cupboard. I drew Raw Power from under a stack of abandoned albums because it was the right time and started really listening to the record.

The album is transformative – great guitars, excellent song-writing and some of the most 2020 tunes to be recorded at any moment. I was hunting for the making-of documentary that came out in 2010 when I came across a nice video of Iggy and the Stooges doing Search and Destroy in 2017.

Let’s skip all the body-shaming crap and ageist foolishness. It is great to hear a passionate song sung with passion by passionate people. I love Iggy’s plea for the crowd to save his soul that comes with the wild arm gestures. There is a clear juxtaposition between the naked and the clothed – Iggy of course is shirtless and glowing. But there is also a shirtless security guard who is moving around behind the amps. And there is a guy in the band shirtless playing a pair of claves. But every other member of the band looks like an 8th grade science teacher with tucked in dress shirts. There is the tiny club-sized set that Iggy has compressed into the center space of this festival stage. And the great contrast of how much space both sonically and physically the Stooges take up.

It is never too late to learn or investigate and discover the world. There is music out there that has not been heard and the day is just beginning.

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Grant Morrison documentary

Fear draws out creativity – telling ourselves a story that we made up can be soothing. When we share our stories they go from sublime-to-mundane.

Good writers manage to capture some element of the sublime experience and convey it. Dragging some element of magic along in their prose.

Some writers make us feel more sublime than we have lived or experienced – their words point to something we can only imagine at that moment. Some rare writers create new possibilities by writing them into existence.

That’s Grant Morrison.

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Wingspan: creating inclusive boardgames

Wingspan and a tasty summer meal.

Long out of print in 2019, I was pleased to get a copy of the boardgame Wingspan this summer. Since it arrived we have played Wingspan almost every two days. Wingspan is one of the best constructed and fun to play games of all time.

Wingspan allows you to build an collection of birds in meadows, forests and wetlands. You operate mostly in solitaire mode, drafting birds, getting food and laying eggs for future generations. The mechanics resemble natural processes and the subject (170+birds) are simply beautiful.

The game play is very pleasing. I find myself lost in my own (almost solitaire-like) joy in strategizing how to get the right food to build a magnificent Golden Eagle or Mississippi Kite, the sense of competition falls away and I’m just in the zone. It is an innovative game mechanic – you finish every game wishing for one more turn.

Wingspan was created by Elizabeth Hargrave who has a robust life as a thoughtful board game intellectual. I’ve watched a few videos where she documents the process of creating Wingspan. She comes across as sincere, thoughtful and aware of issues of representation and power in all aspects of life. The below lecture given at the NYU Game Center is a good example.

https://www.twitch.tv/nyugamecenter/video/757846824

Hargrave outlines the creation of the game and the development of the innovative game mechanics. When given the opportunity she also unpacks some of the gendered assumptions about Wingspan (“Am I making games for women?” she asks at 41:20. ) The response includes this great slide:

Hargrave’s talk is for a group of students (MA and BA) who are studying game design. You can watch the video on a number of platforms, but watching it on twitch has the added benefit of seeing the commentary as Hargrave’s lecture unfolds. (This is also a refreshing juxtaposition, traditionally the text chat on the side of a twitch stream would be rapid-fire trolling copy/paste spam, replaced in this case by earnest classmates joking with each other and riffing sincerely on Hargrave’s arguments).

Hargrave is on top of the significance of representation in boardgames. She also shared the tools and strategies she used to build, and publish her game. She shares information about inclusive calls by game companies and scholarships for new designers. She seems earnest in a desire to open up games for new creators and to encourage sincere support for each other.

I appreciate the values expressed by this approach of game design. She also just comes across as cool. At 46:00 when she encourages future boardgame makers to experience wonder by making games about things that they care about or describing her ban on games that include castles, I got the sense that Hargrave would be fun to hang out with and game with.

One thing that consumers who share the values of inclusion, accessibility and nonviolence can do is BUY these kinds of games. Wingspan is published by Stonemaeir games and you can get all sorts of cool stuff there. I recommend the European bird expansion set.

While praising the game you have to pause at the incredible art that covers the cards of Wingspan. The hundreds of birds illustrated for the game are almost scientific-style drawings, but are really beautiful. You can check out the artwork of Ana M. Martinez and Natalia Rojas on their respective websites.

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Boris Wild mocking the genre

I was very impressed with Boris Wild performing a stunning card / mentalist trick on Penn & Teller’s Fool Us. I think the trick threads the boundaries of the genre of magic (don’t disclose how a trick was done) with the fabric of the trick itself. To position yourself as a meta-magician (which becomes more evident when he is describing how he thought of the trick with Alyson Hanigan).

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Information literacy as self defense: COVID-19 edition

The election of 2016 marked an deep downward pull for American democratic traditions. After the election the institutions that make up government became under attack by the President and the cabinet members. Each American agency seems to have been sapped of leadership, undercut, and in many cases, the people working at the State Department or the NEH found themselves directed to work 180 degrees opposite the purpose of the agency. The Environmental Protection Agency for instance:

EPA Administrator Andrew Wheeler, a former coal lobbyist, said he was freeing oil and gas companies from “burdensome and ineffective regulations.” By rolling back an Obama-era policy designed to curb gas leaks at pipelines and wells, the EPA administrator was essentially giving energy companies the go-ahead to release much more climate-warming methane into the atmosphere.

MSN – https://www.msn.com/en-us/news/politics/another-giveaway-to-polluters-from-the-trump-epa/ar-BB18ecp1

Let’s not pretend that the United States confidence in government was very strong before all this. But you pile on the increasingly refined ways that people gather news and form opinions and the genuine cynicism that everyone seems to share, and we face a deeper problem.

We risk losing the inability to discern fiction from truth – (and I’m a postmodernist), or the ability to debate complex ideas. I’m sure that the basic skills still exist on college campuses and the nod toward some shell of debate and rigorous argument can be found in corners of youtube.

Joshua Yaffa writes in the New Yorker about the continued focus on Russian propaganda (Yaffa outlines how much of this should be considered a threat) and the more problematic impact of the President and Fox News reporters muddying the waters over the significance and response to Covid-19.

Yaffa writes: “When it comes to COVID-19, the apparent result of the combined disinformation campaign of Trump and Fox News has been devastating. A working paper released by the National Bureau of Economic Research in May analyzed anonymous location data from millions of cell phones to show that residents of Zip Codes with higher Fox News viewership were less likely to follow stay-at-home orders. Another study, by economists at the University of Chicago and elsewhere, suggested a disparity in health outcomes between areas where Fox News viewers primarily tuned in to tucker Carlson, who, among Fox hosts, spoke early and with relative urgency about the danger of COVID-19, and places where viewers preferred Sean Hannity, who spent weeks downplaying its severity. The economists found that in March, viewership of Hannity over Carlson, in the locales they studied was associated with a thirty-two-per-cent increase in infections, and a twenty-three-per-cent increase in COVID-19-related deaths

(Yaffa, Joshua.”Believe it or Not.” New Yorker. September 14, 2020, p. 29)

With these kinds of numbers, we need to be making the connection that information literacy is a public health investment. In 2020 being able to discern if a source is lying to you is a survival skill. Fortunately it is one that a couple of hundred thousand teachers can resolve with some investment and support.

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Canuck the crow

An amazing documentary about a crow named Canuck.  Worth a watch.

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Berlin Kidz: Graffiti for the ages

 

 

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Technology extending activism #blacklivesmatter

1.  Thanks to Feministing for the best framing of the uprising in Baltimore.  I appreciate the foregrounding of gender, class, and the juxtaposition of Wholefoods feeding the National Guard and community members organizing (through technology) to feed local kids.

2.  The New York Times seems to think that activism documented through the internet focusing on police violence is a new thing.  It isn’t, but Jay Caspian Kang’s write up of the radicalization of the leaders of this movement is a useful connection point.  Here Kang outlines the articulation of long-standing injustices into first-person experiences of tear-gas saturated outrage in Ferguson.

Mckesson was radicalized that night. “I just couldn’t believe that the police would fire tear gas into what had been a peaceful protest,” he told me. “I was running around, face burning, and nothing I saw looked like America to me.” He also noticed that his account of that night’s tear-gassings, along with a photo he took of the rapper J. Cole, had brought him quite a bit of attention on Twitter. Previously, Mckesson had used the social-media platform to post random news articles that interested him, but now he was realizing its documentary power. He quickly grasped that a protester’s effectiveness came mostly from his ability to be present in as many places as possible: He had to be on West Florissant when the police rolled up in armored vehicles; inside the St. Louis coffee shop MoKaBe’s, a safe haven for the protesters in the city’s Shaw neighborhood, when tear gas started to seep in through the front door; in front of the Ferguson Police Department when shots rang out. He had to keep up a steady stream of tweets and carry around a charger so his phone wouldn’t die.

via ‘Our Demand Is Simple: Stop Killing Us.’ – NYTimes.com.

 

 

 

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