on all orders over $75
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Mortgage backed loans created a black hole in our economy. Its financial gravity was so dense, that it ripped through our network of trust. Predatory lenders leveraged these loans against the disenfranchised, bankrupting the masses. Loans were too much of a burden and Wall Street bankers knew this.
Abraham Maslow, a humanist psychologist, established a hierarchy of needs, where shelter is the most basic need. Without it, our survival instincts kick in for for a chance of securing one. The “elites” know of the “animal spirits” and herd mentality very well, yet they do nothing to prevent the herd from jumping off a cliff.
Block-chain offers a better alternative to a centralized form of finance. In fact, the advent of cryptos took place in the aftermath of the 2008 financial crisis. The creation of the bitcoin ledger was a direct response to the failure of centralized banking.
Satoshi Nakamoto, the mysterious creator of bitcoin, which is a possible pseudonym for a deep state operation. The man below claims not to be the creator of bitcoin. Infact, he lived in the time zone where BTC ledger was deployedand lived a block away from Hal Finney.
No ones is more ambivalent about cryptocurrency than Wall Street. The reputation of digital currency holds dark secrets. Nefarious actors exchange illegal substances over the Tor network, and they finance it all with the notorious Bitcoin. Though Bitcoins hit main stream, it is still not accepted by most businesses as a medium of exchange. Regulations restrict which crypto exchanges sell in New York City. Because of its inconvenience, a majority of financial experts loath it. Warren Buffet, the multi-billionaire investor advises people to “stay away from it”.
Robinhood is the platform where young investors, with little to no experience, can trade 24/7. Recently, the online broker faced backlash as they restricted trading thirteen assets such as GameStop, Nokia, Blackberry, and AMC. Yes, hedge funds were hurt by the recent short squeeze of GME, but it is unfair that the average Joe cannot trade freely. What's ironic is that the company is called “Robin hood”; the famous fictional character, who stole from the rich and gave to the poor. The company failed to stand up for their values, instead, protecting those who already hold a majority of global assets.
Emergence of Rebalancing - Decentralized Finance
Though most Wall Street Bankers and “elites” advice against Cryptocurrencies, a good percentage of them embrace the idea of block-chain. Many from the meme culture would say Elon Musk, founder of Tesla and a multi-billion dollar innovator is just “Trolling”. Even though they may have a point, Musk did invest heavily in the digital currency. His actions and tweets sway the market in such a way, that a new generation of young, middle class investors are encouraged to engage the market. This is good. That is because this new community will include both the rich and the meager. For an imbalanced economy, this gives a semblance of balance, since there is a system which responds to the sentiment of both groups of people, instead being useful for just those who hold large sums of material wealth and property.
Wall Street Bets
Many of these new age investors are mostly millennials and Gen-Xers. People are challenging media moguls and hedge fund partners just for the thrill of it. They see their collective energy as a source of vindication from the financial shackles put on by said “upper class”. The stark truth is that most of us are indebted to the top 1%'s manipulation. If you ever mortgaged a house, swiped your credit card, or taken out a loan, you are engaging a system built on debt. Subcultures, who favor egalitarian values, securing closed communities in forum sites, such as reddit, gather to challenge the status quo. This is best exemplified by the recent manipulation of the stock price of GameStop (GME) and AMC by a reddit group called “Wall Street Bets”.
Rebalancing Gender Roles
Wall Street is a male dominated locality. Investors are traditionally men, who like to take high risk for high rewards. However, that is changing. Gender imbalance is an issue and Wall Street is starting to take interest in rebalancing roles. This is best represented by the fearless girl who stands unperturbed against the unpredictability of the market. The index fund who installed the sculpture, State Street Global Advisors, to promote gender diversity within senior leadership. Made of bronze, the figure stands 4 feet tall with her hands on her hips, making an angular physique, evoking an aura of confidence and bravery. The gender disparity is alludes to the story of David and Goliath, where the minuscule, fearless girl stands up against the patriarchy. This represents having optimistic hopes and acting on the small scale can challenge corporate bias. Change happens from the bottom-up.
Sculptures at the Native American museum commemorating the past and honoring explorers.
The charging bull represents financial prosperity and optimism. It is a coincidence that we are about the enter the year of the ox in a few days. Perhaps we are entering a new age of financial success and a more balanced society. Breaking the illusion of scarcity, ushering humans into a new age of abundance.
Purchase a charging bull statuette or mug to remember the financial district of NYC:
|Wall Street Bull Mug (11oz)||Wall Street Bull Mini Mug (4oz)||Wall Street Bull Statuette|