Posted by John Scalzi

https://whatever.scalzi.com/2025/12/20/two-homes-for-christmas-which-is-to-say-two-different-versions-of-the-same-christmas-song/

https://whatever.scalzi.com/?p=58807

I felt like trying my hand at a Christmas song, so I did “I’ll Be Home For Christmas,” which was a big hit for Bing Crosby. First I did a pretty traditional version, and when I was done, I thought, why not mess with it a little? So I did a second version, with trap drums and lots of bass.

Here’s the traditional version:

And here’s the NOT traditional version:

I hope you enjoy one or both!

— JS

https://whatever.scalzi.com/2025/12/20/two-homes-for-christmas-which-is-to-say-two-different-versions-of-the-same-christmas-song/

https://whatever.scalzi.com/?p=58807

Posted by John Scalzi

https://whatever.scalzi.com/2025/12/19/the-december-comfort-watches-2025-day-nineteen-the-big-short/

https://whatever.scalzi.com/?p=58795

There was, to be clear, nothing very comforting at all about the 2008 global economic crisis. It was a deeply messed-up time, and even if one was not in danger of losing one’s home in the mess, the reverberations of the collapse of the US housing market echoed through people’s lives in strange and unexpected ways. In my own, there is a line of dominos that goes from the collapse of the housing market to me walking away from a contract for a five-book YA series in early 2009. I was pissed about that, I want you to know. But I assure you that what I experiences was a glancing blow compared to the very real hits lots of other people took. People lost houses. People lost jobs. People’s lives were ruined. And, apparently, no one saw any of this coming.

No, one, that is, but a few finance dudes who, in the mid-2000s, looked at how mortgage-backed securities were being put together by banks and financial companies, realized they were a time bomb waiting to happen, and did what finance dudes do — figured out a way to make a shitload of money when the timebomb went off. These men (and they were all men) were not heroes or good guys. They made money when everyone else had the ground beneath their feet crumble into dust. They did by betting on the misfortunes of others. But no matter what else happened, they did see it coming when no one else could see it, or, more to the point, wanted to see it.

The Big Short is based on the book of the same name by financial journalist Michael Lewis, who, it must be said, has had enviable success in getting his books turned into films; aside from this, his books Moneyball and The Blind Side found their way to the big screen as well. Those books had an approachable hook in that they were about sports as much as they were about money, and everyone (in the US, at least) knows about baseball and football. For The Big Short, the question was: was there actually an audience for a movie about mortgage-backed securities? And how would you find that audience if there were?

Director Adam McKay, who previous to this movie was best known for a series of funny-but-not-precisely-sophisticated films with Will Ferrell, including Anchorman and Step-Brothers, had a two-step solution for the problem of making trading interesting. First, he absolutely packed the film with big names: Brad Pitt. Steve Carell. Christian Bale. Ryan Gosling. That’s a pretty stacked cast right there. Second, any time he had to explain an abstruse financial concept, he gleefully broke the fourth wall and had some other incredibly famous people tell you what the concept was, in a way that didn’t sound like a bunch of boring exposition. So: Anthony Bourdain using fish soup to explain collateral debt organization, Selena Gomez making bets in Las Vegas to elucidate credit default swaps, and, most memorably, Margot Robbie in a bubble bath, explaining how mortgage-backed securities worked in the first place.

Yes! It’s a gimmick! But it’s a gimmick that works to give everybody watching the information they need to know to keep watching and understanding what happens next. McKay has the characters in the main story break the fourth wall every now and again as well, to let the audience know when the story on the screen deviates from what happened in real life, or, in the case of Ryan Gosling, to act as the narrator for the story. This could be obnoxious but it mostly works, largely because the story being told is, actually, gripping.

Why? Because it’s about the end of the world, economically speaking — a financial collapse so big that the only other economic collapse in living memory to compare it to was the Great Depression of the 1930s. Financial folks were taking mortgages, the unsexiest and presumably most stable of financial instruments, and finding new and ever-more-risky ways to repackage them as investment properties, aided by greed and a regulatory system that either didn’t know how to evaluate these risky securities, or, equally likely, simply didn’t care to look. By the time we enter the picture, a few years before the collapse, the downsides are there if someone wanted to look.

The people who looked were Michael Burry (Bale), a clearly autistic nerd running a hedge fund who pored through the numbers and saw the inevitable; Jared Vennett (Gosling), one of the first bankers to look at Burry’s numbers and figure he was right; and Mark Baum (Carrell), who takes a meeting with Vennett, hears his pitch about the collapse, and decides to see how far down this mortgage-backed securities hole goes. Later on we meet Charlie Geller and Jamie Shipley (John Magaro and Finn Witrock) two small-fry fund managers who stumble upon Vennett’s pitch and then recruit Ben Rickert (Pitt) to get them the access they need to make their own short bets. All of these folks with the exception of Vennett are total outsiders, and when all of them come around to buy their shorts, every bank and financial firm is happy to take their money, because they think they are fools.

The thing is, none of these people were just working on a hunch. Burry looked deep into the numbers, while Baum had his people go down to places like Florida, where extremely risky mortgages were being written up, specifically so they could be shoved into, and hidden by, these securities that were allegedly low-risk investment opportunities. These scenes in the movie, where exotic dancers own five homes and are unaware how much risk they’ve exposed themselves to, renters are shocked to find their landlords aren’t keeping up with their mortgage payments, and mortgage underwriters simply do not give a shit who they give a loan to, are like a punch in the face. We see what Baum and his people see: all these people are screwed and there’s no way out of an economic slide into the abyss.

Mind you, not everyone understands it in the same way. When Geller and Shipley manage to wrangle a series of shorts on some exceptionally risky loans, they start dancing and pumping their fists thinking about their little victory — until Ricket makes it extremely clear to them what the cost of their being right is going to be. What? Consequences? Yes. Consequences.

We all know how this ends: The housing bubble collapses, century-old banks go under, foreclosures shoot through the roof, and the Great Recession misses becoming the Second Great Depression only by the smallest of margins. There is wreckage, and all of the main characters in this movie get their payday, although in some cases, it’s a near thing indeed. They get what they wanted, and not a single one of them is happy about it.

Damn it, Scalzi! I hear you say. This movie is depressing as hell! How can you say it’s a comfort movie? Because ultimately it’s about smart people doing smart things. These people don’t get where they end up in the movie because they’re lucky, they get where they end up because they of all people are willing to actually pay attention to what’s directly in front of them. They’re not just going with the flow; they understand the flow is actually an undertow, and it’s going to take everything down with it. And because no one else in the world wants to or is willing to see, then they’re going to do what’s available to them: Make some money off it.

Again: This does not make them good people. It makes them opportunists. Baum, at the very least, seems to be appalled by it all, not that the opportunity exists, but that it exists because other people can’t see the disaster they’re helping to make. He seems genuinely angry that people really are just this stupid. He still shoves his chips onto “collapse,” like everyone else in this film.

Here is the film’s implicit question: Even if any of these guys had screamed to high heaven about the risk of collapse, who would have listened? They weren’t going to do that — these are not those guys — but if they did, would it have mattered? The banks and the regulators and the financial gurus were all on board for everything being great. And there were Cassandras, people who pointed out that these securities were primed to explode, and just like the actual Cassandra, no one listened. If you could yell at the top of your lungs and still no one would give a shit, what’s left? As an investor, either find some part of the market that’s going to weather a global collapse, or short the crap out of it and fiddle while everything burns. We know what these guys did. What would you do?

The Big Short changed the career of Adam McKay, who walked away from this film with an Oscar for screenwriting and a license to make movies that aren’t just goofy (his films in the aftermath of this one: Vice, about Dick Cheney, and Don’t Look Up, about the actual end of the world). Good for him. I would like to say this movie also served as a warning about the dangers of blind and heedless capitalism, but look at the AI Bubble, where seven tech companies, all besotted by “AI,” are 40% of the S&P 500’s market capitalization, and are sucking the US dry of energy and water. The look at the current state of the housing market in the US, where in most states buying a home is unaffordable on the average income, and tell me what we’ve learned. The tell me whether the people running the country right now are equipped to handle the collapse when it happens, or will just try to short it themselves.

This movie isn’t a comfort movie because it has good people or a happy ending. It’s a comfort movie for one reason: Some people actually can see what is going to happen before it all goes off the rails. It’s comforting to know that in this, one is not alone.

— JS

https://whatever.scalzi.com/2025/12/19/the-december-comfort-watches-2025-day-nineteen-the-big-short/

https://whatever.scalzi.com/?p=58795