But why are so many prepared to place high-risk bets when the odds are stacked against them? Pandemic stimulus packages certainly handed many Americans some extra cash, but they could have parked that in a mutual fund account instead.

The explanation may be the fatalistic view many have of markets and the economy. Polls since the global financial crisis have shown a growing cynicism about capitalism, particularly among younger Americans, many of whom doubt that they will be better off than their parents, or that their employer will provide a fair wage and decent pension.

That is fuelling a form of financial nihilism which the investor and former ecommerce executive Mike Effle has christened “finihilism”. In an economy too many see as rigged against them, and with markets showing little connection to underlying value, perhaps a bet on the playoffs or a sociable sally against AMC’s short sellers seems as good a use of your money as any.

It is easy to moralise about the upsurge in speculation. But it is hard to fault people for wanting to get rich quick if they have lost faith in their ability to get rich slow.

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Andrew Edgecliffe-Johnson: People have been shocked at how much gambling is going on since before Captain Renault walked into Rick’s Café. But there is something different about this new golden age of gaming https://t.co/hO9s8QQqEY

— FT Opinion (@ftopinion) January 14, 2022

Twice last year, Margaret Schulte and her husband, Jason Abercrombie, traveled 11 hours round-trip to Louisiana from their home in Tulsa, Okla., in the hopes of vaccinating their children, who were 2 and 4, against the coronavirus.

The only way they could get shots for their children — among the more than 19 million Americans under 5 years old who are not yet eligible for vaccinations — was to take part in a clinical trial. So they signed up, hoping a successful vaccine would mean that by now, or at least sometime very soon, a semblance of prepandemic life would be on the horizon.

It has not worked out that way.

The Pfizer trial that their children participated in did not produce promising results, the company said last month. Nor have vaccines emerged from other corners. Moderna has yet to release results of its pediatric trials.

Now Ms. Schulte and Mr. Abercrombie are among the millions of parents stuck in an excruciating limbo during a surge of Omicron cases, forced to wrestle with day care closures and child care crises as the rest of the world appears eager to move on.

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Millions of parents of unvaccinated children under 5 are stuck in limbo during a rise of Omicron cases in the U.S., forced to wrestle with day care closures and child care crises as the rest of the world appears eager to move on.https://t.co/MO0kCtq2rE

— The New York Times (@nytimes) January 14, 2022

Almighty God, who to wise men who sought him didst manifest the Incarnation of thy Son by the bright shining of a star: Grant that, as they presented unto him gifts, gold and frankincense and myrrh, so we also out of our treasures may offer to him ourselves, a living sacrifice acceptable in thy sight; through him who for our sakes was born on earth as a little child, Jesus Christ our Lord.

Adoration of the Magi, 1482 #botticelli #sandrobotticelli pic.twitter.com/YQRQOKyl7q

— Sandro Botticelli (@artbotticelli) December 18, 2021

Let us therefore strive to enter that rest, that no one fall by the same sort of disobedience. For the word of God is living and active, sharper than any two-edged sword, piercing to the division of soul and spirit, of joints and marrow, and discerning the thoughts and intentions of the heart. And before him no creature is hidden, but all are open and laid bare to the eyes of him with whom we have to do.

–Hebrews 4:11-13

I would rather like a medal for patience. Today waiting for sunrise took at least an hour standing in the cold. A stubborn bank of cloud refused to move 😂Portrait, might need a click. pic.twitter.com/xWLRugCDzs

— Michelle Cowbourne (@Glastomichelle) January 15, 2022