The peak was —a supposed “rally” in October, just before the Lehman collapse. Two hundred people on horseback (and a few on stolen golf carts) rode through the outskirts of Scranton, carrying torches made of rolled-up subprime mortgage contracts. A local news helicopter caught the image: a sea of lanterns bobbing over a dark field, horses’ eyes glowing red in the infrared. The anchor called it a “cult.” The participants called it a “liquidity event.”
But like all things in 2008, Horsecore buckled under its own weight. horsecore 2008
Within weeks, there were copycats. Horsecore wasn’t about animal cruelty—God, no. It was about . The manifesto, scrawled on a Tractor Supply receipt and posted to a GeoCities page titled “HORSE ANARCHY 2008,” read: “You put your faith in leveraged ETFs. We put ours in oats. You trust the Fed. We trust the farrier. You ride the bull market. We ride the horse market. Saddle up or shut up.” The aesthetic was brutalist agrarian: welding masks, muddy Carhartt bibs, horses draped in shredded American flags. The music—when there was music—was slowed-down sludge metal played on banjos and a single distorted kick drum made from a barrel. Bands with names like Haybale Holocaust , Mane Against the Machine , and Equine Genocide (ironic, they insisted) played shows in abandoned Tractor Supply stores and bankrupt dairy barns. The peak was —a supposed “rally” in October,
And if you listen close, you can still hear them screaming: “TARP can’t save you. The trailer can. Ride or die—hoof and claw.” The anchor called it a “cult
It started in rural Pennsylvania, where a farrier named Clay Hockensmith lost his shirt in the subprime collapse. Foreclosure notices stacked up like unlucky poker hands. One night, drunk on Yuengling and spite, Clay looked at his last remaining asset—a 17-hand Percheron draft horse named Dolly—and strapped a stolen Home Depot bucket to her flank.
Inside the bucket: a boombox playing Metallica’s “Ride the Lightning” at full tilt.
The year is 2008. The housing market has cratered, gas is four bucks a gallon, and the only people who seem calm are the ones out in the pasture.