Breakthroughs and everyday innovations from the year.
HEADLINES ON November 4, 1998
Full News Archive
- Headline: US Dollar Strengthens Amid European Rate Cuts. Impact: The rise of the US dollar led to a global currency arms race where countries started hoarding dollars like they were Pokémon cards, ultimately causing a worldwide shortage of Monopoly money.. Fact: Did you know the US dollar is so popular that it has been used as a currency in more places than actual currencies? Talk about an overachiever!.
- Headline: Greenwich Reimbursed for Powerball Frenzy. Impact: The unexpected jackpot reimbursement prompted Greenwich to invest in a town-wide lottery system. Years later, they accidentally created a new holiday: 'Powerball Day' where everyone gets to stay home and dream about being rich.. Fact: Fun fact: The odds of winning the Powerball are about 1 in 292 million. So, if you lose, just remember, statistically speaking, you're doing better than winning a fight with a bear..
- Headline: Keyspan Acquires Part of Gulf Canada's Assets. Impact: Keyspan's acquisition led to an energy monopoly that inadvertently resulted in a future where everyone was forced to barter with candles due to the energy crisis. Guess who became candle-making tycoons? You guessed it, hipsters.. Fact: Did you know that gas prices are more volatile than a reality TV star's emotions? Buckle up!.
- Headline: Democrats Retain Hold On Assembly In Albany. Impact: The Democrats' grip on Albany continued the trend of political stagnation, leading to decades of 'who can yell the loudest' in legislative sessions, ultimately culminating in a reality show called 'Real Politicians of Albany'.. Fact: Did you know that the New York State Assembly is so powerful that they can literally make laws while you wait in line for a bagel? Now that’s efficiency!.
- Headline: Late Count Shows Spitzer Virtually Tied With Vacco. Impact: Spitzer's razor-thin lead ignited a New York political drama that resulted in a future where every election became a nail-biter, with candidates scheduling heart-stopping recount parties and popcorn sales skyrocketing.. Fact: Fun fact: New York City has more political drama than a soap opera. At least soap operas have better writers!.
- Headline: Incumbents Prevail in 12 of 13 Districts Amid Very Low Voter Turnout. Impact: The incumbents' victory in New Jersey set off a chain reaction of complacency that eventually led to a series of 'lifetime achievement awards' for politicians, regardless of their actual achievements. Spoiler: they were mostly just sitting there.. Fact: Did you know that low voter turnout is like a buffet where everyone just stares at the food but no one actually eats? Delicious democracy denied!.
- Headline: Under the Toque; 'Here's Emeril!' Where's The Chef?. Impact: Emeril's popularity created a chef cult that led to a future where everyone believed they could be a culinary genius simply by yelling 'BAM!' at their sauté pan. Ironically, many kitchens burned down in the process.. Fact: Did you know that Emeril Lagasse's catchphrase 'BAM!' is now recognized as an official culinary term? Next up: 'POW!' for when things really heat up in the kitchen!.
- Headline: Dodd Coasts To Victory And 4th Term In the Senate. Impact: Dodd's fourth term solidified the idea that some politicians are like those old couches you can’t seem to get rid of, still there, still comfy, and no one really knows why you keep them around.. Fact: Did you know that four terms in the Senate is basically the political version of winning a lifetime supply of pizza? Great for the politician, not so much for the constituents!.
- Headline: THE MARKETS: COMMODITIES. Impact: Silver’s price drop marked the beginning of the 'Great Silver Hoarding of 2000s' where people started using silver coins as doorstops, leading to an unexpected shortage of actual doorstops.. Fact: Fun fact: Silver is often viewed as the ugly step-sibling of gold. It’s still precious, but let’s face it, nobody’s throwing silver parties!.
Wall Street Time Machine
AAPL
Apple
Apple - If you invested $1,000 in 1998, it would be worth $2,234,025 today (2234.0x return)
AMZN
Amazon
Amazon - If you invested $1,000 in 1998, it would be worth $914,661 today (914.7x return)