Opinion

The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap

This week the wildest, most nonsensical, volatile part of the market wasn’t bitcoin, it was the “Robinhood Rally” in equities.

By Nathaniel Whittemore

Jun 13, 2020 at 4:00 p.m. UTC

Updated Sep 14, 2021 at 8:51 a.m. UTC

By Nathaniel Whittemore

Jun 13, 2020 at 4:00 p.m. UTCUpdated Sep 14, 2021 at 8:51 a.m. UTC

By Nathaniel Whittemore

Jun 13, 2020 at 4:00 p.m. UTCUpdated Sep 14, 2021 at 8:51 a.m. UTC

This week the wildest, most nonsensical, volatile part of the market wasn’t bitcoin, it was the “Robinhood Rally” in equities.

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This episode is sponsored by Bitstamp and Ciphertrace.

The stock market has long been disconnected from the underlying economy, but much of what happened this week - particularly the pumping of bankrupt company stocks - suggests something new is afoot.

In this episode, NLW breaks down three long-term trends suggested by the so-called Robinhood Rally, including:

The “insurgency” aspect of a generation of young professionals who are willing to play the financial game rather than have it be played for them
A totally new force in financial media, which could hit like a wrecking ball in one of the stodgiest, traditional media industries
An embrace of a certain type of cynicism or nihilism when it comes to the values of financial markets

This week on The Breakdown:

Monday | Why War Reporting Is the Right Mental Model for Today’s Media, Feat. Jake Hanrahan

The founder of Popular Front joins NLW for a discussion about protests, media and how the people being covered tend to not reflect divisive politics.

Tuesday | What the Stock Market’s ‘Robinhood Rally’ Means for Bitcoin

The largest 50-day rally in stock market history and even shares of bankrupt companies are up more than 100%. What is going on?

Wednesday | A Vision for Digital Property Rights, Feat. Nic Carter

Most people today look at social platforms like any other private company, but what if we saw them as alternative jurisdictions with a new set of property rights?

Thursday | Why the Fed Keeps Denying Its Role in Increasing Inequality

The Federal Reserve expects low inflation, says rates will stay close to zero through 2022 and keeps lying about the role of central banks in increasing inequality.

Friday | Bitcoin Is More Than an Inflation Hedge

While fears of a “great monetary inflation” have driven the recent bitcoin narrative, other aspects like censorship resistance and peaceful protest matter just as much.

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Nathaniel Whittemore