Watching Nightmare Alley is not advised for an evening of uncomplicated relaxation. It is a thought-provoking movie about filling an aching void in life. Some have it bigger and more painful than others but what they choose to do with it is not always in proportion, Stan Carlisle in the movie, has a lot going for him but he does not know when he has it as good as he can possibly have it. That would be the right time to stop and consolidate gains. But that is not what Stan is about. He architect's his life's tragedy.
To the viewer he is the anti-hero but in his own mind he is settling unfinished and unresolved business in his own lofe, helping people come to terms with their sins and mistakes. That and a desire for greatness drives what he does. It is also what bring people into his orbit. The way del Toro tells the story of Stan, it is impossible to feel sympathy for him. This is not because he is painted entirely in black - the character simply does not provoke a sympathetic response.
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