Article
Attention
Culture
Weirdness
Wildness
6 min read

Take a walk: the world is weirder than you think it is

Psychogeography and the dark alleyways of the mind.

Mockingbird connects the Christian faith with the realities of everyday life.

A backlit person at twilight holds a hand out towards the camera, holding some fairly lights
Riccardo Annandale on Unsplash.

This article, by Blake Collier, first appeared in Mockingbird. Published by kind permission. 

 

Entre chien et loup. 

The phrase literally means “between dog and wolf” and has most immanently been used to describe the twilight hour where day and night intermingle before night fully takes hold. 

Jean Pruvost, a linguist who has studied the expression, gave some background on ‘entre chien et loup.’ He says it comes from a Latin phrase, intra hora vespertina inter canem et lupum, that dates back to at least the seventh century. And it refers to the time when the daylight dims and you could mistake a dog for a wolf. 

One could imagine before the advent of electricity and modern public lighting how ambiguous this time of day could be as the landscapes around your small village were being consumed by the darkness — the human eye not fully able to calibrate fully for day or for night, hence the inability to distinguish between a friendly pet and a looming threat. 

This is what is popularly known as liminal space in our current epoch. This liminality is always present, however, not just at dusk. As we move through the worlds we inhabit, whether natural or built, we are constantly finding ourselves within transition or transformation. Psychogeography is a broader term that is often used to investigate the liminal movement of bodies through space. In its most simplistic form, it is how our mind interacts with and processes the physical landscapes that we inhabit and how those landscapes affect our mind. The actual history of the term is much more complicated — honestly, convoluted — however at its core it is scratching at the nebulosity of things like entre chien et loup

At the outskirts of a city or town, one begins to see the fraying of the edges, those areas where we have yet to fully enact our illusory control over the land.

About seven or eight years ago at the height of my running prowess, I got up one Friday morning very early and started a ten-mile run I had planned around nearly the full border of my hometown of Canyon, Texas. I did not know if I would make it the whole way, but the intent was there and the map was set. However, something interesting happened as I began plodding down my route. Those lines that show up on our maps often engender varying qualities of trails. Most of the time I was hitting asphalt and sidewalks, but when you are following a broad circle around a town, it’s not uncommon to find ambiguous stretches between incorporated and unincorporated parts of the town. Somewhere within the first mile or two, one of the “roads” I had included on my path ended up being nothing more than a worn trail through prairieland behind a group of houses. 

I bring this story up because, though I did not know it then, I was enacting a psychogeographic practice. Iain Sinclair, who is probably one of the most well-known proponents of modern psychogeography, walked the M25 around London in seven different treks over a time period. The M25 is a 125-mile loop around London and is considered one of the busiest highways in the world. As he ambled along the highway — sometimes on asphalt, sometime “around” the trace of the highway — he would take note of what he saw, and he eventually wrote the book London Orbital. This practice allowed him to see London in a new way because at the outskirts of a city or town, one begins to see the fraying of the edges, those areas where we have yet to fully enact our illusory control over the land. They have neither been captured by urban sprawl nor have they been renovated and gentrified. These lacunae are ambiguous regions between the built and unbuilt (or decayed). Once again, we are placing ourselves intentionally into places where we attend to the ley lines which connect the physical markers to the perceived or imagined topographies of the places where we exist. 

To put it bluntly, being intentionally attentive to surroundings can trigger investigations into the seen and unseen powers that hole up in our built environments and the natural world that pushes back against it. 

The path through the prairieland I spoke of earlier ended at a concrete curb and a recently repaved residential street that ran right next to a Catholic church, almost like the church was posting itself on the fringes of the town to warn of impending threat, or perhaps giving a welcome sight to a weary traveler. I suppose it depends on how you look at it. 

Yet it is exactly this work of attending to where we live and reacquainting ourselves with it that is, I believe, at the heart of this purposeful ambulation through space. Our lives fall into banality most of the time. We take everything for granted and we see our lived environment through that myopic lens. But take a walk on the outskirts of where you live, without a phone or music or any other technological mediation, and just look around the space and pay attention to how it embroils your emotions. I can nearly guarantee that you will find the place you live is much weirder than you thought it was, and you might even learn a thing or two about what your place values. I knew that Catholic church was in that general area of that path, but I didn’t realize how that path would empty me out before its hallowed presence. 

However, as I thought about it, it made sense that in this community the Catholic church would be found on the edges of the town. There are somewhere around ten other churches in a town of about 17,000 all of which are Protestant. However, if you go just ten or eleven miles west to the town of Umbarger, the roles are reversed. There is still one Catholic church, but as far as I know no Protestant churches. Merlin Coverley, in his book tracing the history of psychogeography, finds that “contemporary psychogeography as closely resembles a form of local history as it does a geographical exploration.” One could take the observations from their ambulation and dig into their place’s past to see why this might be the case. However, this is very much the chien of this psychological study of environment.  

What about the loup? Psychogeography has always had connections to the occult and the weird. Coverley continues later in his book, 

“Here, then, we find all the features ascribed to psychogeography today: the mental traveler who remakes the city in accordance with his own imagination is allied to the urban wanderer who drifts through the city streets; the political radicalism that seeks to overthrow the established order of the day is tempered by the awareness of the city as eternal and unchanging; and the use of occult symbolism reflects the precedence given to the subjective and the anti-rational over more systematic modes of thought.” 

All of this is to say that what we might find out about the place we live in when we give ourselves to its fringes and walk its shores might have a darker tone which implicates local politics and powers. Perhaps we will even find ourselves confronted by a metamorphosis which changes the very way we live, work, and move in these places. 

Sinclair’s earlier work Lud Heat in 1975 set out to remap London by way of connecting London’s churches built by eighteenth-century architect Nicholas Hawksmoor and their odd loci to numerous prominent murders like the Radcliffe Highway Murders and those by Jack the Ripper. There is a thread that ties some of the imagery Hawksmoor used in his churches to ancient Pagan symbolism. To put it bluntly, being intentionally attentive to surroundings can trigger investigations into the seen and unseen powers that hole up in our built environments and the natural world that pushes back against it. 

If nothing else, this study of the ambiguous transgressions between mind and place helps us bring a new profundity to our existence. It psychologically brings us back to a place where our intellectual, physical, and technological prowess cannot protect us from the hairs that stand on the back of our necks. Because everything, if attended to perceptively, can be seen as a dog or a wolf. And that should give us great pause in the everyday grind of our lives. 

Article
Culture
Economics
Ethics
6 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.
$Trump coin marketing image.
gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend. 

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin. 

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”. 

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap. 

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.  

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages). 

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history. 

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators. 

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s. 

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities? 

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources... 

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment. 

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis. 

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation). 

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production. 

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold. 

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.  

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains. 

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one. 

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded. 

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank. 

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option. 

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”. 

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud. 

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved. 

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.