GameStop saga: For day traders, it s the moment they ve dreamed about
30 Jan, 2021 09:24 PM
8 minutes to read
By: Paul Wiseman and Joseph Pisani
They ve endured a financial crisis. Two deep recessions. Mounds of student debt. Stagnant pay. Costly health care. Dim job prospects.
They ve seen the uber-rich grow richer while a pandemic threw tens of millions of people out of work and left many more isolated and vulnerable at home.
Now, they feel, it s payback time.
Nearly a decade after the Occupy protest movement left Wall Street more or less unscathed, the citadel of financial elitism faces a new assault.
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For GameStop day traders, this is the moment they’ve dreamed about: ‘I think this is bigger than the money now’
Updated Jan 30, 2021;
Posted Jan 30, 2021
A vehicle passes in front of a GameStop store in Vernon Hills, Ill., Thursday, Jan. 28, 2021. The online trading platform Robinhood is moving to restrict trading in GameStop and other stocks that have soared recently due to rabid buying by smaller investors. GameStop stock has rocketed from below $20 earlier this month to close around $350 Wednesday as a volunteer army of investors on social media challenged big institutions who had placed market bets that the stock would fall.AP Photo/Nam Y. Huh
For GameStop day traders, the moment they ve dreamed about
by Paul Wiseman And Joseph Pisani, The Associated Press
Posted Jan 30, 2021 10:43 am EDT
Last Updated Jan 30, 2021 at 10:44 am EDT
WASHINGTON They’ve endured a financial crisis. Two deep recessions. Mounds of student debt. Stagnant pay. Costly health care. Dim job prospects.
They’ve seen the uber-rich grow richer while a pandemic threw tens of millions of people out of work and left many more isolated and vulnerable at home.
Now, they feel, it’s payback time.
Nearly a decade after the Occupy protest movement left Wall Street more or less unscathed, the citadel of financial might faces a new assault.
Angola is rich in natural wealth, with massive petroleum and diamond deposits across its territory. Most of its people, however, continue to live in poverty. Since its independence in 1975, Angola has had a tumultuous journey: from being a war zone, to becoming a poster child for Chinese engagement in the continent, and since 2015, declining to its current state where the challenges are so massive negative growth rates, high external debt, rising poverty and inequality, and lack of basic health and education facilities that there is no immediate recovery in sight. This brief makes an account of Angola’s contemporary history, analyses the broad economic patterns that the country has witnessed over the past four decades, and outlines the imperatives for policymakers.
What 2020 did to India’s inequality
Until now, the burden of this once-in-a-century crisis has been borne unequally, and mostly by the poor.
(Photo: Reuters)Premium
Rahul Lahoti,
Amit Basole
The bottom 10% of Indians lost a fourth of their income last year. Can the Budget put a lid on widening inequality?
In the shadow of an upcoming Union Budget, these facts acquire more resonance. The govt should consider a covid cess on the rich in order to partly fund direct support to the poor.
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BENGALURU :
Even before covid-19, India was already a highly unequal country. As per the World Inequality Database, the share of the top 10% in India’s national income was about 56%, much higher than comparable countries like Indonesia (41%), Vietnam (42%), and even China (41%). India’s pandemic-induced economic hit is expected to be much worse than any of these comparable Asian nations.