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Reddit鈥檚 GameStop Stock Boost & MLB鈥檚 Hall of Fame Drought | The Daily Social Distancing Show - YouTube
Channel: The Daily Show with Trevor Noah
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the stock market america's number one
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supplier of great depressions
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as volatile as the stock market can be
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this
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has been one of its wildest weeks yet
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craziest business story out there
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an internet trading mob is driving
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gamestop shares higher it appears
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despite short sellers look at the stock
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it's up more than 680 percent so far
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this year
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they realized that all of the
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institutional investors were hedging on
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gamestop so they just bought a bunch of
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call options bought a bunch of stock
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and created the gamma squeeze that you
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saw on friday
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okay okay i i don't know about you but
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that explanation is
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way too complicated short selling the
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thing of the long cell and then the con
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look what we really need here is that
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scene
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from the big short where margot robbie
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breaks it down for us in the bathtub
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you know and uh i actually called her
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to do that but she blocked my number
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so uh i had to figure out plan b
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basically there's a group of people on
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reddit who don't use the stock market to
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invest
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they use it to gamble and yeah that's
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what a lot of
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serious investors do too but these guys
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on reddit are more honest about it
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and they love to troll the people who
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aren't
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so there's a store called gamestop that
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sells video games not a great business
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to be in since games can be downloaded
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now
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which is why the serious investors
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decided to short gamestop which means to
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bet against it
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but the redditors are gamers who have a
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semi-ironic love for the store
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so they started making memes encouraging
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each other to punish the serious people
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by buying worthless gamestop stocks now
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instead of failing
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gamestop is succeeding wildly
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not really of course not as a business
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but
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come on stocks are never real
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the serious people have already lost
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five billion dollars
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and some giant hedge funds have gone
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bankrupt
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got it good
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now let's get out morgan robbie's
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bathroom before she gets home
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and asks me what i'm doing here the last
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time she caught me here was a bit
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awkward
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okay now that we're on the same page yo
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this [聽__聽] is wild
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and i know some people are freaking out
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about this people like this isn't how
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wall street
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is supposed to work what's gonna happen
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to these poor hedge funds
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let me tell you something wall street is
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gonna be fine all right
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there are millions of people who are out
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of work and thousands of
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businesses closing and yet the stock
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market is an all-time high
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i'm not worried about hedge fund guys
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they can cry about this on their
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helicopter that takes them to their boat
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that takes them to their yacht in fact
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if anything
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i think it's actually funny to see how
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wall street doesn't like it when
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somebody wall streets them
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yeah because when they make moves that
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cost people their homes people in wall
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street are like hey man those are the
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rules but when it happens to them
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they're like
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those aren't the rules is someone gonna
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regulate this
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and these reddit investors are already
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moving beyond gamestop
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now they're pumping up the stock prices
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of other failing companies like bed bath
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and beyond
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amc movie theaters and even tootsie
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rolls
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which by the way i didn't even know that
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tootsie roll
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had its own stock who was that for so
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it's a candy
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that looks and tastes like a turd but
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it also sticks to your teeth you're
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interested in investing
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now if you think about it the only
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reason that these redditors have been
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able to pull this off is because of the
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internet
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yeah think about it like reddit and all
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these social media they make it possible
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to get together with people who think
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like you this wasn't possible decades
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ago
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like now if you want to take down a
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hedge fund you can find people to help
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you do it
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if you want to plan an insurrection you
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can find people to help you do it
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hell if you think you're the only person
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in the world who's attracted to that
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part of the stapler that looks like a
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face
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well i'll see you at hotstaplerfaces.com
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my friend
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but let's move on to something that
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isn't surging
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humans it's a trend that sometimes
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happens after blizzards
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long power outages or whenever couples
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might have some time to kill
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and not much to do many people joke that
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kovit's stay at home orders
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would lead to a new nationwide baby boom
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we talked about that
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but some researchers predict we might
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just see the opposite
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it's looking like that baby boom is
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actually a baby bust
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the brookings institution estimates this
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year could see a dip from 2019
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approaching
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300 000 fewer births the u.s birth rate
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will decline an estimated
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7 to 10 percent this next year that's on
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top of an
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already 35-year low wow
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so apparently these last 10 months have
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been all netflix
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and no chill and honestly i'm not
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surprised who's
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going to tiger king because i mean
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there's certain things that you can
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watch and be like yeah we're going to
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get it on
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but like when you're sitting next to
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someone you're like goddamn carol baskin
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you're not making babies to that but yes
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apparently
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nobody has been making babies while
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they're in lockdown
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and i mean when you think about it it
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makes sense
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you know when you're spending 24 hours a
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day with someone for months the last
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thing you want to do
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is make another one of them to hang out
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with not to mention
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i've been so scared of getting covert i
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don't even see my own family
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so i'm definitely not going to let a
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stalk hand deliver me a baby
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no thank you what do you mean that's not
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where they come from
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so where do they sex so you have sex
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with a stalk
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plus i agree with these people their
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rights about the economy i don't
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need a baby i already have enough mouths
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to feed i got my mouth
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and the other mouth that's on the side
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of my neck did you say something trevor
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go back to sleep cornelius but you know
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this story
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actually gives me a great idea if
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there's fewer babies that means there's
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going to be
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fewer kids so that means fewer day cares
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which means daycares will lose business
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so wall street will bet against
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daycares which means i'm buying a
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daycare let's do this reddit
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oh oh i lost everything why isn't this
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regulated and finally
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let's do something your dad always
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wanted to do on vacation
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and check in on the baseball hall of
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fame it's where the game
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celebrates its greatest players but this
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year the celebration is gonna be
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a tiny bit smaller all the former
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baseball players who were eligible for
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induction into
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the baseball hall of fame this year
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struck out no player was named on the
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required
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75 percent of ballots from the baseball
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writers association of america
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seven times cy young winner roger
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clemens failed to get enough votes
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in his ninth year on the ballot clemmons
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was suspected of having used
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performance-enhancing drugs during his
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career he denies that
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and baseball's all-time home run leader
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barry bonds also failed in his ninth try
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he was also believed to have taken
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performance-enhancing drugs
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pitcher kurt chilling who won three
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world series titles fell 16 votes short
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since retiring schilling has faced
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criticism for posting social media
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comments
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critical of muslims transgender people
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and journalists
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tisk tisk social media is bad news guys
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because i can guarantee you there's a
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lot of bigots in the baseball hall of
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fame
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they just didn't have social media to
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tell you about it you think ty
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cobb was woke i mean just as a rule any
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baseball player whose card
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was a painting probably hated somebody i
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respect
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that the baseball hall of fame wants to
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maintain their integrity but
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it is kind of funny that the hall of
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fame has higher standards than the u.s
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government
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because some baseball players like i
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don't want to share a bathroom with this
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person and the hall of famers like hey
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get out of here
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and go make some laws or something
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you
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