Episode 30: The Stock Market Explained

https://globehell.libsyn.com/

## Episode Summary

With the recent rise of "meme stocks," the stock market is a hot topic. In this episode, Drew and Josiah go into great detail about the stock market and what exactly is going on with Game Stop, AMC and other so-called "meme stocks." They also debate the ethics of Wall Street Trading and consider alternate financial systems to generate equity in modern society.

## Notable Events

* Josiah and Drew discussed the upcoming opportunity for Drew to be the leading man in a Christopher Nolan film. Drew acknowledged that he would release his last name if he became a famous actor.
* Josiah and Drew sang *Money* by Pink Floyd.
* Josiah and Drew listened to *Pink Floyd - MONEY (BettaNoize X Modified Noise Trap Remix)*, as uploaded by Titsman Records.
* Drew sang *Why Do I Have Blue Eyes?*.
* Josiah and Drew listened to *Stonks (Meme Man) Song* by Day By Dave.
* Josiah and Drew watched a video of people trading stocks.
* Instead of discussing a new Globe Hell idea this week, Drew instead gave a lecture about stonks and the stock market, a topic about which he is very knowledgeable.
* Josiah and Drew watched a video of a little boy who is CEO of a cupcake company.
* Josiah and Drew watched a video of a wealth hacker talking about how to legally invest in the stock market.
* Josiah and Drew watched a video advocating for educating young people about financial matters in school.
* Josiah and Drew listened to *The Among Us Rap Battle (Killer on the Floor)* by NerdOut & CG5.
* Josiah and Drew listened to an acoustic instrumental version of *Money* by Pink Floyd.
* Josiah and Drew listened to a guitar instrumental version of *Money* by Pink Floyd.
* Josiah and Drew watched a video about making money by listening to music.
* Josiah suggested a new dating service where you only get to see the other person's Bitmoji until you meet them in person.
* World Wide Website
* Josiah and Drew listened to *Taco Truck* by Michael Christmas.
* Josiah and Drew listened to *The Wall Street Shuffle* by 10cc.
* Josiah and Drew watched a video of Sooper Cooper and Wall Street Willy explaining finances to children.
* Josiah and Drew took a quiz to assess how much they learned about finances. The questions were as follows, with the correct answers underlined. Josiah scored 1/5 correctly and Drew scored 2/5 correctly:
	+ Which of these is one of the most popular stock indexes in the world?
		- a) S&P 30
		- b) S&P 100 - Drew's answer
		- c) S&P 500 - Josiah's answer
		- d) S&P 1000
	+ Many stocks pay out a portion of the profits to the shareholders. What is this called?
		- a) Rights
		- b) Dividend - Drew's answer
		- c) Yield
		- d) Coupon - Josiah's answer
	+ What type of account do you use to invest in the stock market?
		- a) Brokerage account
		- b) Money account - Josiah's answer
		- c) Investing account - Drew's answer
		- d) Checking account
	+ How do you calculate a company's market capitalization?
		- a) Assets times liabilities
		- b) Dividend per stock times stock price
		- c) Average employee wage times stocks outstanding
		- d) Stocks outstanding times stock price
	+ When a company goes bankrupt, who gets paid first?
		- a) The stockholders
		- b) The bondholders - Drew's answer
		- c) The index fund holders
		- d) The preferred stockholders
* Josiah and Drew discussed including footnotes or links or clips of referenced episodes in future episodes.
* Josiah and Drew listened to *The Gamestop Song* by V.
* Josiah and Drew provided a leftist spin on the episode by recommending listeners buy a book instead of buying a brick. And the book is *The Communist Manifesto*.

## Notable Quotes

### Josiah

* "When Drew goes to sleep, he has something called jizzmosis. Uh wet dream. Wet dreams may cum. Made cum. That movie. Kinda like a play on that movie - I think it was Robin Williams movie *What Dreams May Come*. 'Wet Dreams Make Cum' is the the Drew mo- the Drew movie. The Drew- the Drewvie."
* "In comedy you do callbacks to a joke and then in you're a dramatic actor, you're waiting for the callback from the casting director, so it's pretty similar I guess."
* "Of course I love *Tenet* but I don't remember what it's about."
* "Drew Hitler."
* "So welcome to Globe Hell. My cohost, Drew Hitler, what's new today, Drew Hitler?"
* "Stonks machine go whirrr."
* "Did they put video games on the screen at the stonks? In the World Trade Center?"
* "What if it was called 'Wolf -' - what if it was called 'Wolf Of Stonk -' - what if it was called 'Wolf Of Stonk -', okay that didn't work."
* "What if it's 'An American Werewolf In Paris Stonks'."
* "I'm more online - I'm extremely online, actually, so I'd appreciate it if you say it in online talk."
* "I mean, these children can't even work a green screen properly!"
* "These children need to learn to project their voices a little bit, these fuckin' brats."
* "Stonk."
* "I love Tesla."
* "They shouldn't have said 'Elon Musk' cause I got really distracted thinking about how cool he is, so I kind of fell behind a little bit."
* "I'm gonna let it go but I don't think that you should be saying whether or not a minor is an adult, because I think it's kind of the law dictates when a minor becomes an adult."
* "How do you grow wealth? Money tree."
* "The edits are too fast and you're talking; I'm getting really - what's happening? What are these logos?? I'm gonna black out! Oh my God, what is he saying? You have to subscribe to a different one?"
* "I feel like I'm gonna pass out from this video."
* "This is a scary video. It has a spider on it."
* "That child should be locked up."
* "[In response to Drew saying a stork is what delivers a baby] I thought it was a pussy."
* "So which one is the meme one? Stocks? But I thought I saw the New York Times say 'meme stocks' today from GameStock. And why do they call the store GameStock and they don't want people to be buying the stocks? The stonks? Why do they call it GameStonk?"
* "Okay okay okay! But what's a stonk?"
* "The B- sorry, The Brick, the sort of low-range furniture factory warehouse outlet? The Brick? Yeah, The Brick! Aggressive salesmen there. The salesmen are - so are they - and they make commission, is that related?"
* "Okay. What is a stonk?"
* "GameStonk."
* "The Brick - what if The Brick- if there was a fu- so you're saying if there was a s- if there was a funny version of The Brick, it would be called The Brink? Is that what I'm trying to -"
* "The Bronk! Okay. The Bronx? That's already a place."
* "[In response to Drew saying you buy a brick and stick one brick more on top] So but why would you buy a brick and give two bricks?"
* "This is what happens today? The p- s- uh - *Among Us* will- cause I didn't even know The Brick was open right now, I thought it was only essential businesses. I mean, I think a leather sectional couch is a essential."
* "GameStonk went out of business?"
* "[In response to Drew saying you will have a lot of broken windows when a lot of people have their bricks out] 'You can't build your,' - that's from *The Bible:* 'Don't build your house on a foundation of sand'."
* "Wait so do you think it's bad or good that they're doing this trading, that the children are trading. Cause I think you're hedging a little bit, and I know that's a thing too. Hedge. Hedge. Why do they talk about hedge so much? It's stonk hedge. Stonehenge!"
* "[On the topic of hedge funds] Yeah and that's something I've said to myself back before COVID, I said, 'I would love to go do - I would lo-' if someone invites me out to an expensive party, I would say, 'If only I hedgefunds! I would love to come, if only I hedgefunds! Hedgefunds!'"
* "So is it good or bad to hedge bet?"
* "Well what's your point? Drew? I wanna hear the point of Drew. Your point of Drew. Stonks."
* "So you're tell- I just to - just to clarify, stonks is a funny thing. That's a joke."
* "Okay so that - cause sto- and stocks is not funny."
* "Why are they in an incognito tab while they're doing this?"
* "People used to uh - people used to um build society around religion, in sort of - in the pursuit of all things papal - the Catholic church and whatnot - and now, I believe people uh live their lives in pursuit of all things PayPal."
* "You should be able to make money from x-raying money."
* "They're getting tacos. Hostile tacover. Stonks. Tacos. Touch my butt and call me - and buy me tacos."
* "I don't think we should be doing stonks anymore."
* "And that's - but every - every- but everyone- that's - okay that's the other thing, I remember like about ten years ago, everyone was hated this guy named Bernie and then all of a sudden they love Bernie."
* "[On the topic of Ponzi] Oh I remember him. With the leather jacket?"
* "[On the topic of Scrooge McDuck] He's not wearing any pants. Like me when I've had tacos and have touched my butt and buy me pizza. Tacos. Stonks. Scrooge. Donald Duck-ing it."
* "Do you think we could get children to host a episode of this show?"
* "[In response to Drew calling him a child] Thank you for saying I'm not old."
* "[On the topic of eating pizza crust with a nice dip] So what would be the dip in terms of the stonk market?"
* "The employee wage needs to go down to make the stonk machine go whirrr."
* "\*Doing an impression of a child\* For more on World Wide Train (verb), click the link in the bio!"
* "So what - so what - so what's - I guess what's the point of this episode?"
* "Is stonk same as Wall Street? What about 'Octopi Wall Street'?"
* "[On the topic of *The Communist Manifesto*] Is there anything about the stonk mar - stonks in there? Money the machine go whirrr?"
* "[In response to Drew saying he's been too busy investing to live] You're too busy infesting. Cause you're a rat."

### Drew

* "I don't go by Drew Hitler."
* "Why do I have blue eyes?"
* "What if it was 'The Stalker Of Stonk Street'?"
* "Josiah, pay attention! It's not that hard! This is for children!"
* "That makes sense! So if you own one stock, you own like imagine a building is a brick made out of bricks, right? If you own one brick of that building, then you've got a stock. And at any point, if you want, you can pull that stock out of the building."
* "They're minors that are adults."
* "Josiah, settle down!"
* "[In response to Josiah saying 'He kinda has a sexy voice' about the man in the video they were watching] Yeah. Are you sure you're not listening to me?"
* "It's 100% legal for children to bet on the stock market."
* "[In response to Josiah asking why the store is called GameStonk] Well it's called GameStock. And if you can buy a brick of the stock, Josiah, then you have a bit of a GameStock, okay? So when everybody has a bit of a GameStock brick, right? Okay? Just let me finish my point. Imagine the building - imagine - imagine - imagine owning the brick and the brick - and the building -"
* "[In response to Josiah asking if the building Drew mentioned is the furniture store The Brick] No. No - you - you - no, you - there's a building that's made out of bricks, and you own - okay let's just say it's The Brick. Just say it's The Brick, okay?"
* "GameStock. It's GameStock. Imagine GameStock is part - is - can I finish my - can I finish my point, Josiah?"
* "[In response to Josiah asking if the funny version of The Brick would be 'The Brink'] Yeah. It would be called The Bronk."
* "Okay imagine the s- GameStonk is The Bronk, okay? And you have a brick of The Bronk. And as people keep buying bricks of it, The Bronk keeps getting bigger."
* "[In response to Josiah asking how The Bronk is getting bigger if you're taking bricks away] Well no. Well no, they're buying - they're buying - they're buying bricks and investing uh and pu- adding - they stick one brick more on top."
* "[In response to Josiah asking why you would buy a brick and give two bricks] Well you wouldn't give two bricks. You'd get - you'd - you'd buy one brick and you'd ha- so you'd need to add a brick on top of The Bronk."
* "[In response to saying he would have the same number of bricks he started with] Well that's the thing. When - then when The Bronk gets bigger, if people keep - if people - if people keep - they're not subtracting, they just keep adding. People keep adding bricks to The Bronk. Eventually The Bronk is very big and then all of a sudden, all these teenagers uh who have been getting - they've been playing *Fortnite*, they've been playing *Among Us* - they start - they see that the buil- the Bronk is so big, they need to get their brinks out of The Bronk. They start pulling their bricks out. Eventually what happens, The Bronx Foundation is gone."
* "Well GameStock was - was made too big, and now there are - people are pulling their bricks out. And GameStock is uh in a lot of trouble because a lot of people have pulled their bricks out. And what do you have when a lot of people have their bricks out? There are gonna be a lot of broken windows."
* "[On the topic of hedge funds] I was gonna say, 'Oh I'd love to hedgefund with you!'"
* "Money's not even real, if you think about it."
* "Oh she's so beautiful."
* "What if you looked in a dollar bill and there was a secret message in it for you? Like specifically for you. It said, 'Josiah, you need to go to these coordinates. These GPS coordinates. What you will find there will change the course of your life.' What would you do? What would you do? It could be - could be that - could be that you're gonna get a million dollars. It could be a hitman gonna shoot you in the head."
* "We all have great regrets in life, things that we wish we would have done. Would you always be kicking yourself asking yourself, 'What would have happened if I went to those coordinates? Would there have been a hitman?'"
* "[In response to Josiah's question about what a Ponzi scheme is] A Ponzi scheme is, well it's named after a guy named Ponzi."
* "[On the topic of Ponzi wearing a leather jacket] Yeah, and it's basically when you have a - when you have a uh a guy like a Fonzie or like a Ponzi, rather. A Ponzi. You have a guy like Ponzi who's cool and can attract a crowd and trick people into giving their money."
* "[On the topic of people being mad at Bernie] Anyway, they - first they were mad at Bernie uh for doing th- for - for uh Ponzi schemes, then they were mad at him for having uh fans uh or supporters uh who are sexist, um and then all of a sudden he's a cute old man in a chair, so I don't know what neoliberals are up to, exactly."
* "Think about Scrooge McDuck when you think about the stock market."
* "[In response to Josiah asking if they could get children to host an episode of Globe Hell Warning] I don't think that that would be a good idea. We already have one child on the show. You."
* "[In response to Josiah asking if a video of Sooper Cooper and Wall Street Willy explaining finances to children was a Disney film] No! This is just a YouTube video. But I think it's easier if you think about a stock as a brick or a pizza. A piece of pizza. And basically short selling would be if you were to have a piece of pizza and you were to stop at the crust and you just throw the crust away. And that's what's wasteful about Wall Street."
* "\*Doing an impression of a child\* Howdy! How- \*Doing a regular voice\* No, that was me. \*Doing an impression of a child\* Howdy! Did you know how much there you could get at the stock market? Do you think you're a pro? \*Doing a regular voice\* Can you tell?"
* "[In response to Josiah saying employee wages need to go down to make the stonk machine go whirrr] It needs to go up cause we need to close small businesses."
* "[In response to Josiah's request to create a leftist spin on the episode because Globe Hell Warning is a leftist podcast] What if we said, instead of buying a brick, buy a book. And it would be *The Communist Manifesto*."
* "Fuck you."

## Trivia

* This is the third main episode to not propose a new Globe Hell idea, after Bus and Episode 27: Why Do I Have Blue Eyes?.