Thursday assorted links

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#5 - Handel and his money "Handel’s financial records provide a unique window on his career, musical environments, income, and even his health" - no surprise there, and it's interesting that Handel made money off the South Seas Bubble investment (SSBI) scheme.

Bonus trivia: as remarked by several authors, the SSBI scheme was the first (or second, the French version came a few years earlier) attempt to monetize the national debt and spread it out to credulous investors. The modern version? Investors investing in negative interest rate government bonds backed by nothing more than the 'full faith and credit' of potentially disingenuous and bankrupt governments. After all, there's nothing in the US constitution that says the US government cannot default on all debt owed by say foreigners or holders of over $1M of debt or so forth, and other than hyperinflation that's one way to get rid of debt. Buyer beware.

And interesting that opera was a financially precarious prospect two centuries ago - Handel's great wealth only coming about after he had ditched the form.

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After all, there's nothing in the US constitution that says the US government cannot default on all debt owed by say foreigners or holders of over $1M of debt or so forth,

And I quote, "The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."

+1.

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@John - you're arguing with a guy that went to law school and did badly. Fight you can't win. The passage you quote can be easily sidestepped (just like any other constitutional provision, including the right to bear arms, double jeopardy, First Amendment, Fifth Amendment, etc etc etc) by noting 'questioning' is not the same as 'defaulting'. Nobody will question you if you submit a US dollar to pay a debt. But the US government can easily repudiate the promise to pay a US dollar, in my scholarly opinion.

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#4 - Twinkie cereal. Reminds me of the current clickbait news about some guy who lost weight eating just potatoes, or a southern US university professor who did the same eating junk food, as long as you exercise and watch your calories. Not long term healthy probably since you lack all essential vitamins, but not unhealthy either.

From your time there, are you a fan of Filipino food? For some reason, the cuisine doesn't get the same respect internationally as other Asian food.

One of the few Asian nation's that did not really embrace the chillie. That makes it somewhat .. subtle, especially when shifting gears from say Thai.

In my experience it can be comfort food, more than drama.

They add sugar to everything. There is no such thing as savory there. It's disgustingly sweet.

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Btw, while I'm not familiar with the clickbait you referenced, Stephan Guyenet, the closest thing I've been able to find to an expositor of the orthodox academic view on diet, happens to be a big fan of potatoes and has suggested, maybe partially tongue-in-cheek, that a potato diet might be a very good way to lose weight

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#3 - both. Many things that are feminist according to second-wave feminism (reclamation and pride in women's sexuality) are anti-feminist according to third-wave feminism (deconstruction of expressions of gender/sex relationships).

Sorry, that's #2

We have the multiple genders, these days.

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"Overall, Handel timed his market moves fairly well and did not lose money from his holdings of South Sea stock."

In financial markets as in music, timing is everything.

The notion of rummaging through Handel's old financial records is also interesting. Some historians and biographers try to get into their subjects' heads by using psychohistory (not in the Asimov sense). Maybe this sort of financial research can be called numismahistory or some such.

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4. The Twinkie cereal doesn't look like it has cream filling in it. Neither CNBC nor the press release mention it. It's a pass for me.

Do people still eat cereal? I thought Millennials killed that too.

“ Do people still eat cereal? I thought Millennials killed that too.”

Ok Boomer.

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I'm 34 years old (solid millenial territory) and I eat a bowl of disgustingly sweet sugary cereal every night before bed: Reese's Puffs, Oreo O's, etc.

I feel the need to include the caveats that I don't live with my parents (married with 2 children) and I have a well-paying engineering job...because that sentence above just drips with loneliness and depression :-)

Stop. It’s not healthy fare.

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Step it up. Eat Cap'n Crunch.

I am perhaps overly influenced by a Consumer Reports review of breakfast cereals that I read decades ago.

I expected them to vote most of them "poor" except maybe for bran flakes and indeed they were not impressed by most of them. But they did claim that American breakfast cereals can be part of a good breakfast: put milk on the cereal and you've got protein, calcium, and vitamin D; and put fruit on the cereal and you've got much of the rest: a complete breakfast.

I often skip breakfast but when I want to eat a fast cold breakfast I'll have Trader Joe's O's (their knock-off version of Cheerios, not quite as good as the real thing but much cheaper, and much better than the off-brand toasted oat O cereals sold by supermarkets); with a couple of handfuls of nuts and thawed frozen strawberries (the sweetened kind, so I don't have to put any additional sugar on the cereal). Usually I'll pour skim or low-fat milk on top but I've on occasion run out of milk and discovered that good substitutes are yogurt (plain or flavored both work), chocolate milk, and yes even egg nog.

Or have some Nido dried milk in your pantry and never run out of milk because that stuff lasts for months yet tastes surprisingly good (not as good as fresh milk but infinitely better than other dried milk brands).

It's an easy way to get more nuts and fruit/berries into my diet.

Thanks for letting us know.

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I had Pop-Tarts cereal recently and that had strawberry filling. I bet Twinkies have something too. The Pop-Tarts was really good dry or with milk!

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2. Blackpink is solid KPop. Sad that it wasn't Ted Gioia's "cup of tea" as he put it in a Conversation a while back.

Rather than sad, I think that is encouraging.
The Koreans are the Irish of Asia, by the way.

In what sense? Their economies are very different. S Korea is a manufacturing powerhouse from shipbuilding to high tech. Ireland is a tax and regulation haven. Let's not bring N Korea into this conversation.

If we're talking about who are the Irish of Asia, my first thought is Filiipinos. People on an island nation whose economy has or had lagged behind the mainland nations.

Although maybe we should look more to culture than to their economies. As Jimmy Rabbitte says in _The Commitments_, "The Irish are the Blacks of Europe."
https://www.youtube.com/watch?v=8XnRF5zyIKE

Yes, Ireland is lagging badly. They are second in Europe in GDP (PPP) per capita behind Luxembourg. How embarrassing.

The average wage in Ireland is higher than in UK, Germany, Canada, France, Sweden, Japan, Israel, ...

Yeah, I assumed he meant they we doing very well.

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Apropos of nothing, Ireland is a weird case. Need to take a median salary approach to avoid issues.

Ireland: $30,400
Japan: $37,800
United States: $47,060

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Yes, the similarities between the Phillippines and Ireland were quite striking until Ireland suddenly got rich and secular.

You intellectuals think too much.
Koreans (Koreans told me, back in 1983-1988) were the Irish of Asia because (1) they like to booze it up, (2) they like to sing, (3) they like to fight.
They were contrasting themselves to their arch-rivals, the Japanese, who were (according to those same Koreans) the English of Asia.

....that the Koreans are the Irish of Asia

4) They were colonized by their more powerful and larger neighbor to the east

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#6

"This makes some people feel cheated: “it's not real teleportation!” While the name “quantum teleportation” is great marketing, it genuinely is a little misleading."

Unfortunately, even scientists of the hard science variety aren't immune to marketing and hype.

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#4 - So this is what emerged from the Hostess bankruptcy? Expect another one soon. I bet some Boomer in the boardroom pat himself on the back for that one. News for him. The younger generations don't eat cereal and they don't drink milk.

https://www.cnbc.com/2019/11/12/dean-foods-americas-biggest-milk-producer-files-for-bankruptcy.html

News for snarky snowflakes of all generations:

"Younger men and women (aged 18-34) are most likely to indicate they are eating more hot and cold cereal, including both better-for-you and heavily sweetened varieties. They also are most likely to indicate they eat four or more types of cereal, compared to older age groups.

Older consumers are more likely to indicate they are eating other breakfast items with more protein and fiber and also more likely to agree they are eating less cereal because it does not keep them full." https://www.preparedfoods.com/articles/115129-top-breakfast-cereal-trends-in-2015

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#1 OK Boomer.

What was the first use here? How far behind are we?

As with most memes, it began on 4chan, as an ironic way for Gen Z posters to banter with Millennials (aka 30 year old Boomers). Now it is being used in an unclever, political way on Twitter, as would be expected of the users of that humerlous place.

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#4: it's really hard to protect product design. Minimal variations are enough to describe a derivative product as original creation.

The alternatives in our messy modern world are: (i) trademarks, (ii) put in the mind of the consumer that the product must come from an specific geographic region to be "authentic".

Trademarks are the only ones protected by intellectual property laws. Putting ideas in consumer minds is pure marketing. As the article says, individualism kills any local effort to protect their creations. Organize and work together or go to back to obscurity.

It was #3 :/

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'Putting ideas in consumer minds is pure marketing'

Not exactly. In Germany, 'feta' cheese used to be made out of cow's milk. After feta became a defined product (without cow's milk being involved), all the cheeses made from cow's milk and formerly called feta needed to be renamed - the two winners seem to be Balkenkäse or Hirtenkäse.

And of course, in the U.S., you can pick up bottles of champagne for a fraction of the over-priced French version - even if you cannot convince me that true French champagne is not a superior product to its American equivalent.

And since it is now Christmas time, the difference between actual Dresdner Stollen and its various copies is again available to check. Whether it is worth the extra cost is another question, but that there is a difference is pretty hard to dispute.

Can you see a difference between product design (clothes, shoes, furniture) and food/drinks with registered designation of origin?

If you wish, you can described a chair designed in Chile and made in China as Bauhaus, Nordic design, or Italian style. It's a product. As long as it's not an exact copy of an existing thing or uses the trademark of someone else, no one can do anything about it.

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Geographic Indicators (e.g. the words "champagne" and "feta" being the subject of state-enforced monopolies despite decades of generic usage) are now the law in every country that is a TPP signatory. This is a windfall for France and South Korea and a giant middle finger to just about everyone else. Shameless protectionist handout to countries whose major expert is cultural snobbery.

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5. You can't Handel the truth. Here in America "the Panic of 1792 was a financial credit crisis that occurred during the months of March and April 1792, precipitated by the expansion of credit by the newly formed Bank of the United States as well as by rampant speculation on the part of William Duer, Alexander Macomb, and other prominent bankers. Duer, Macomb, and their colleagues attempted to drive up prices of US debt securities and bank stocks, but when they defaulted on loans, prices fell, causing a bank run. Simultaneous tightening of credit by the Bank of the United States served to heighten the initial panic. Secretary of the Treasury Alexander Hamilton was able to deftly manage the crisis by providing banks across the Northeast with hundreds of thousands of dollars to make open-market purchases of securities, which allowed the market to stabilize by May 1792". QE in 1792? Hamilton would be right at home in today's Fed. Notice that Duer et al. were speculating on both U.S. debt securities and bank stocks. Where rising (or falling) asset prices are the path to prosperity, rampant speculation and financial crisis follow.

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1. The herd follows. Duh. See also fake news, YouTube, and financial crisis.

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This "OK Boomer" has to be the feeblest insult I've heard. BTW, the supposed first instance of it was directed at Charlie Kirk, who is 25. I guess the insulter was being sarcastic. Up your game, (subset of), young people!

OK, Boomer

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It worked because Boomers like you still keep talking about it.

+1, boomers never learned not to feed the trolls.

Incidentally, it's interesting how much group-think is at play with various trends. I played some K-pop to some Zoomers 4 years ago and they thought I was a maniac (I think the band I played was "f(x)" -- Blackpink incorporates some musical tropes that are a bit tired by comparison imho). A few years later and the Zoomers are fawning over K-pop...

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Just smoking out you fools. Ha, ha, great fun for old guys.

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2. Christ on a stick! Do you seriously think the four performers don't think South Korean women should have the same legal rights as men? That say spousal rape shouldn't be a crime? Just because their livelihoods to a large extent depend on doing what their managers tell them probably doesn't mean they are okay with women being beaten by husbands and/or fathers with impunity.

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Boomers are unfairly blamed for many things that are not entirely their fault: trade wars, structural deficits, an immigration system that does not attract enough young highly skilled people, no cost effective measures to deal with climate change, encouraging the the rise in anti-antisemitism and white nationalism.

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Don't items #1 and #2 intersect?

The closer you are to a boomer, the less you should really know about teens in hot pants.

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#1 - it strikes a nerve and says a lot of truth pithily

It strikes a nerve pithily because of concision: how much pith it carries is another matter.

While it qualifies as an ageist expression of contempt, dismissiveness, or rebuke, does it convey any recognition that fifty years ago members of the Boomer cohort were urging each other not to trust anyone over age 30 (cf. the film Logan's Run to see how quickly that meme was disposed of)? --I know: too much ancient history to contend with.

If today's callow youth survive to middle age in short years, "OK, Millennial" or its dismissive equivalent will be coined by a disaffected child of the age, assuming that their children survive to adulthood or assuming that "cohort self-consciousness" and America's Cult of Eternal Youth also survive.

It's almost like what goes around comes around.

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1. Totally agree. The essential truth of OK Boomer is “I’m a lazy scumbag that doesn’t want to work and wants to do less. Feed me, protect me, make me safe, and tell me everything is gonna be OK. If not then “OK Boomer.”

hot take alert! blue ribbon for originality.

boomers enact broad social welfare programs and it's called "the great society", and when XYZ makes a similar push, it's greedy and lazy? and by the way, just how much health care / social security / retirement will still exist when XYZ is aging out?

baby boomers want to think they're uniquely great. some of them are. a lot of them were a generational/technological/political right-place-right-time. don't tell me those grey teamsters who sit around constantly refreshing their multi-million-dollar stock portfolios built the freaking pyramids.

they may, however, be at the top of a generational pyramid scheme.

Almost no boomers were eligible to vote in 1968. By that time, The Great Society was largely in place. Can't hang that one on the boomers (tho it sounds like you're giving credit.)

Correct, and even the ones who were of voting age were still too young (21-22 years old at the most) to be in positions of power to affect legislation and policy. Granted, mass protests by youth did have some effect, although I wonder how much of the anti-war sentiment would've happened even without the protests.

OTOH civil rights and voting rights protections probably did require mass protests (and televised images of marchers being attacked by police dogs). But through the early 1960s, Baby Boomers would've had only minimal involvement.

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Lol you’re saying ten year olds enacted social welfare in the US?

Baby boomers aren’t the greatest generation by any means but they’re far more emotionally resilient and hard working than gen z or millennials.

I’m sorry but as an older millennial, my generation just isn’t that great. We’re not very risk taking, we don’t produce interesting culture products at the pace of the previous generations and we crave security.

The generation below myself, gen z, is in unspeakably bad shape. They make millennials look like the greatest generation.

i stand *mostly* corrected on great society, but to that point exactly how old are these people you say suck? whose "ok boomer" agitations are bothering everyone? my impression is, college age plus. certainly not older than 30.

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we don’t produce interesting culture products at the pace of the previous generations

I kind of agree, but at the same time I think it's hard to split that from greater complexity / budgets in lots of market dominating "culture products" that kind of inhibit risk taking and have high barriers to entry. There's a fair amount of creativity in indies still. It's hard to separate from the different systems and "starting point".

The "OK Boomer" thing, well, maybe it's OK as a response to various older folk telling youngsters they can afford a nice house if they work a median pay job and don't buy takeout...

But it's hard to sympathize with Millennials when they leap into diatribes about how older folk had an easy life free college (at least in the UK, they largely didn't get that far because of far weaker secondary education support and far lower funding overall of public tertiary education), and how old folk had sweet manual laborer jobs (like the miner's strike, winter of discontent, etc. never happened).

(What's particularly rich though is when early British Gen Xers walk into the anti-Millennial diatribes, when they walked into the perfect storm of high rates of public funding of education, 90s boom economy, 90s cheap housing and then boom in housing prices. In the UK, if anyone can be said to have hit the sweet spot, the '90s Gen X generation are easily the true "luckiest generation". Maybe it's totally different in the USA though)

i HAVE NOT LOOKED AT THE NUMBERS and have been embarrassed once already on this thread but wasn’t college, for example, much cheaper 50 years ago even adjusting for inflation? and housing too?

as for cultural products, i’ve worked in a creative industry and it seems boomers are still responsible for much of what gets produced today. reddit notwithstanding.

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6. Clicked the link. Inadvertently teleported to the bottom of the page.

Still waiting for all those qubits to arrive to activate mnemonic functions.

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"Ok, boomer" is not nearly as clever as "learn to code". This "Epstein didn't kill himself" thing is a positive development.

All surpassed by "do you even lift?"

I suppose the code thing could be improved the same way.

Do you even code?

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Learn to code (the derisive comment targeted to laid-off members of MSM) is used by (among others) members of the alt-right who, ironically, don't know how to code.

'Learn to code' was used derisively to manufacturing workers whose jobs went to China, often by the MSM. When it was their turn, they didn't like it a bit.

Right, that was the joke and it is clever. "Learn to code" is the attitude of the education establishment toward the young as well. What about the unintelligent? What is their role in the "creative economy"? "Let them eat beans", says Tyler Cowen (which also should have caught on).

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ЕРЗТУИ ФГФЙТ КЧГГ НГМЗЕГЧ

My Cyrillic is rusty, but I have a suspicion the Russians and their coded moon-runes are behind all of this...

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Resolved: If you both lift and code you are set for the 2020s.

How many years until the majority of software development/maintenance for US companies is offshored?

I think we’re at 12% now.

That's really a different question. "Do you even code?" is a response to anyone who proposes to understand these times.

For instance, the analysis at item #1 was primarily a code example by a "Developer Advocate @Google." It almost incidentally explains the world, as it shows off the curves on Big Query and Data Studio.

I'm not saying every ex-manufacturing worker has to code, but every forward thinking intellectual might. At least to dabble. At least to grab some data and plot a curve. Or at least to understand what someone just did.

It's pretty amazing to an old-timer:

"I used two different sources of data:

Historical reddit archives stored in BigQuery, for all comments before June 2019.

Live pushshift.io API for all newer comments. Extracted like described in my previous post."

That's something that's hard to wrap your head around if you are boomer-near, just how much data you can grab and manipulate.

OK Boomer.

Jk

As someone who codes on a regular basis at work, I would say for > 90% of people it would be a giant waste of time.

Figuring out “Hello World” is not going to teach anyone the math behind machine learning algorithms.

The percentage of Americans who understand linear algebra has to be less than 2%.

Boomer adjacent.

I put a pretty low bar on coding. Using functions in spreadsheets? Maybe half of all adults could find that useful.

No you’re definitely a Boomer. I stand by my assertion that you and Dick are the two Boomerest Boomers on MR.

I don’t think I have ever heard a more Boomer idea in my life, thinking that a SUMIF in a spreadsheet is coding.

Am I being generous? I've done everything from bare metal embedded asm to node.js in heroku, but I don't think I need to be a snob.

Functions are giving the computer instructions. Max out on that and you can start to script.

And today you can do a lot with scripts.

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I think we’re talking about different things if you believe Excel and SQL queries means coding. Hopefully any idiot can write queries....

I’m still waiting on...and remember risks to actual Americans...

What are the actual Specific downside risks of another 4 years of Trump?

What are the actual Specific downside risks of 4 years of Warren?

Also what specific things make Miller a “white supremacist”? He’s Jewish. Is the left now openly calling Jews Nazis? Are we at the point where liberals call Jews Nazis?

Huge yikes

As I say above, once you start giving the computer instructions, you are on your way. You can build from that.

On the rest, I really think your overly weird and specific setup questions do you no favors.

Like "name exactly and specifically how a grizzly would approach your cabin .. or it would never happen!!!"

Sure, Karen

Darn, blew my Karen link.

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But mark my words, if the Republicans don't dump Trump and Miller, they own them.

The excuse that they are "goofs" you don't pay attention to won't fly. They'll define the party.

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To put a rough size on "all comments" in a BigQuery database, as of Oct 2017,

"The dataset contains 2.86 billion records to the end of 2016 and is 709GB in size, uncompressed."

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1 is a cool link.

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4. With what we now know about nutrition, breakfast cereal should not exist. Scrambled eggs(*), every day. With sides to suit.

Protein matters.

* - whites only if demanded by your doctor.

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The headline in the "OK Boomer" piece uses the phrase "escalated quickly" --- this is a meme, and a fifteen-year-old one at that. The re-phrasing rather ironically loses this.

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1 is well presented but only checking reddit is major streetlight effect. The ok boomer stuff is downstream of the "30 year old boomer" concept (why the first target was a 25 year old), which has been evolving for probably at least a year on imageboards and fringe youtube communities.

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OK boomer is funny...try not to be so triggered by it...not that difficult to let the young people goof on you..

Meta irony having triggered and funny in the same sentence.

If there was ever a word that connotes the irrelevance of someone’s writing, it’s triggered.

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rem acu tetigisti (Jeeves)

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#1... It took over 10 years to take off and the escalated quickly. However I would assume all memes are like this. One day they arent memes and then something happens and they are. The question is what causes the tipping point? In this case it seems to be NYTimes articles which is a bit old school... (irony intended)

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Blackpink - obviously neither feminist nor anti-feminist, just mostly dumb. (You can have lots of youtube subscribers and still be dumb, especially when many of them are obviously a wide, international number of incels jerking off to this stuff.) That Tyler doesn't know this (or pretends not to? Which is more generous to him?) is pretty telling.

I agree they are neither feminist nor anti-feminist. They're a corporate-produced and controlled pop-idol group. They will be dumped by their managers when they age out, in the meantime the closest thing to an "ideology" they could be said to advocate is amoral and brainless consumerism (presented with a veneer of girl-power.)

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