JANUARY 2, 1998

Full News Archive

• Headline: Michigan Clinches Rose Bowl Championship. Impact: In a twist of fate, Michigan's victory over Washington State led to an unprecedented rise in college football fandom. This sparked a nationwide obsession with overpriced nachos and foam fingers, ultimately giving birth to the tradition of tailgating, where people gather to consume questionable amounts of barbecue and beer — all in the name of 'team spirit.'. Fact: Did you know that this game was so intense, it caused more heart palpitations than your average family Thanksgiving? Who knew college sports could be the leading cause of hypertension?.
• Headline: Challenges in South Korea's Economic Bailout. Impact: The small banks' reluctance to lend during the Korea bailout created an unexpected ripple effect that led to the rise of predatory lending practices in the U.S. Fast forward a couple of decades, and it seems like everyone and their dog is offering loans with interest rates that could make a loan shark blush.. Fact: Fun fact: small banks are just like that one friend who says they'll help you move but then 'suddenly' has plans. Spoiler alert: they never had plans..
• Headline: Transitioning Power Sources for a Cleaner Future. Impact: As inefficient coal plants were retired, the power industry began to pivot towards cleaner energy sources. This was a butterfly effect that indirectly led to the rise of hipster cafes that only serve organic, fair-trade, gluten-free, non-GMO lattes — an unforeseen consequence of environmental progress!. Fact: Did you know that the only thing more outdated than coal plants is the idea of using coal to power anything other than a steam train? Welcome to the 21st century!.
• Headline: '97 Record At Box Office But Studio Costs Soar. Impact: The soaring box office revenues in '97 led to Hollywood's infamous sequel obsession. Fast forward a few years, and we end up with more sequels than original movies — so thanks, Patrick Ewing, for paving the way for 'Fast & Furious 37: The Quest for More Cash.'. Fact: Did you know that the average ticket price has increased so much that you could practically buy a small country with the money you spend on a single movie outing now? At least you get to sit in a recliner and pretend you're royalty!.
• Headline: Financial Services Consolidate, but Regulation Is Still Fragmented. Impact: The consolidation of financial services led to a massive increase in the number of people who pretend to understand their bank statements. This created a boom in online financial courses and the rise of influencers claiming to be financial gurus — some of whom can barely balance a checkbook.. Fact: Did you know that the only thing more fragmented than financial regulation is the way people handle their finances? Spoiler: it usually involves a lot of yelling at spreadsheets..
• Headline: Israeli Foreign Minister Says He'll Quit in Budget Dispute. Impact: Levy's resignation over budget disputes only intensified the political drama in Israel, paving the way for more coalition governments. This eventually led to more political talk shows where pundits debate over coffee like they're the last two people on Earth who care about politics.. Fact: Did you know that government budget disputes are basically the adult version of children fighting over who gets the last cookie? Spoiler: everyone ends up unhappy..
• Headline: Hatch Defends Senate Action On Judgeships. Impact: Hatch's defense of the Senate's pace in confirming judges only solidified the stereotype of politicians moving slower than molasses in winter. This eventually led to a national pastime of complaining about government efficiency — or lack thereof.. Fact: Fun fact: if the Senate were a car, it would be a classic model stuck in traffic, while everyone else zooms by in the fast lane. Talk about a roadblock!.
• Headline: Sports of The Times; For One Day, Rose Bowl Still Rules. Impact: The Rose Bowl's reduced status due to television money led to a chaotic system of bowl games where the championship is decided by a rotation. This ultimately resulted in college football fans becoming experts in convoluted playoff scenarios — or as we call it, the new math.. Fact: Did you know that college football fans can explain complex algorithms about bowl game selections but can’t figure out how to split a check at dinner? Welcome to the paradox of fandom!.