Wall Street

The Gamers’ Uprising Against Wall Street Has Deep Populist Roots

February 11, 2021 Ellen Brown, ScheerPost.com. Educate! GameStop, Money in Politics, Populism, Wall Street

A short squeeze frenzy driven by a new generation of gamers captured financial headlines in recent weeks, centered on a struggling strip mall video game store called GameStop. The Internet and a year off in this shut down to study up have given a younger generation of investors the tools to compete in the market. Gerald Celente calls it the “Youth Revolution.” A group of New York Young Republicans who protested in the snow on January 31 called it “Re-occupy Wall Street.” Others have called it Occupy Wall Street 2.0. The populist uprising against Wall Street goes back farther, however, than to the 2010 Occupy movement. In the late 19th century, the country was suffering from a depression nearly as severe as the Great Depression of the 1930s.

Gamestop—And the Game That Never Stops!

February 2, 2021 Jack Rasmus, ZNet. Educate! GameStop, Plutocracy, Stock Market, Wall Street

This past week a video game company in trouble, Gamestop, became the center of media attention. Day traders had driven up the company’s stock price by thousands of percent in just one day. The mainstream media narrative was the ‘small guy’ investor challenged the big boys of finance who had bet Gamestop stock price would contract, not rise sharply. The little investor, so the story goes, initially won big but Gamestop’s stock price escalation was stopped in its tracks by coordinated forces of Wall St., as trading was abruptly halted later in the day in the midst of the run-up. But that narrative, that media spin, has it wrong. The real meaning of what has happened is quite different.

‘French Revolution In Finance’

January 30, 2021 Morgan Artyukhina, Sputnik News. Strategize! GameStop, Stock Market, Wall Street, Wealthy Elites

The New York Stock Exchange suffered a poor day on Wednesday, with the Dow Jones Industrial Average sinking by more than 600 points. However, for a select few companies, stock values have gone through the roof. It was thanks, in large part, to a group of amateur stock traders with a vendetta against veteran corporate insider short-sellers betting on a company’s failure, with the video game store GameStop taking center stage. Before the drama was over, the company’s value had jumped by more than 1,700%, an investment firm had lost billions, and some small-time investors who gambled it all were able to afford some of life’s costlier necessities with their windfall.

The Reddit Revolution, GameStop And Melvin Capital

January 29, 2021 Glenn Greenwald, Substack. Educate! GameStop, Reddit, Stock Market, Wall Street

A remarkable series of events culminated in at least one major Wall Street hedge fund on the verge of insolvency and widespread anxiety and even panic from the titans of the financial system. It was all initiated on a sub-group of Reddit known for its heterodox interest in stock markets, video games, and vaguely populist politics. Purposely targeting the stock of a company that had long been written off by Wall Street and which short sellers had decided to ravage — the video game retailer GameStop — these small investors, many apparently working class or debt-ridden, banded together to drive up the stock price of that company into the stratosphere, abruptly leaving the hedge fund short-sellers with billions of dollars in losses.

War Of The (Financial) Worlds

January 13, 2021 Nomi Prins, Tom Dispatch. Educate! Capitalism, Finance and the Economy, Recession, Wall Street

Sometimes things only make sense when seen through a magnifying lens. As it happens, I’m thinking about reality, the very American and global reality clearly repeating itself as 2021 begins. We all know, of course, that we’re living through a once-in-a-century-style pandemic; that millions of people have lost their jobs, a portion of which will never return; that the poorest among us, who can withstand such acute economic hardship the least, have been slammed the hardest; and that the global economy has been kneecapped, thanks to a battery of lockdowns, shutdowns, restrictions of various sorts, and health-related concerns.

Water Should Not Be Traded On Wall Street

January 3, 2021 Avexnim Cojti, Cultural Survival. Educate! Capitalism, Indigenous Peoples, Wall Street, Water

On December 8, 2020, several media sources reported that fresh water started to be traded on Wall Street as a commodity such as gold and wheat. This comes as water scarcity is increasing in California and many parts of the world and as we near a global water crisis. A water crisis is worrisome enough, yet more alarming is the fact that our Mother Water will be controlled by a privileged group of people who will determine its value to the world. As Indigenous Peoples of Abya Yala (the Americas), we have seen how our territories were turned into private property for the benefit of settlers and their governments. Although we might have lost our livelihoods in certain cases, we are resilient and we continue asserting our rights to collective lands and land protection.

Hunter Biden Criminal Probe Bolsters A Chinese Scholar’s Claim

December 11, 2020 Glenn Greenwald, Substack. Educate! China, Hunter Biden, Joe Biden, Wall Street

Hunter Biden acknowledged today that he has been notified of an active criminal investigation into his tax affairs by the U.S. Attorney for Delaware. Among the numerous prongs of the inquiry, CNN reports, investigators are examining “whether Hunter Biden and his associates violated tax and money laundering laws in business dealings in foreign countries, principally China.” Documents relating to Hunter Biden’s exploitation of his father’s name to enrich himself and other relatives through deals with China were among the cache published in the week before the election by The New York Post — revelations censored by Twitter and Facebook and steadfastly ignored by most mainstream news outlets.

On Contact: American Dissent

November 8, 2020 Chris Hedges, RT. Resistance Report 2020 Elections, Democrats, Republicans, Wall Street

On the show this week, Chris Hedges talks to Professor Paul Street about the outcome of the US presidential election, and how despite likely losing, Donald Trump has solidified an angry, disposed working class that cuts across racial lines and has embraced a right-wing populism. What does this portend for the two ruling parties? Will the Democrats continue to be captive to big donors and Wall Street, or will they embrace the anti-corporate message and promises Medicare for all, free higher education, higher corporate taxes and regulation of big banks and Silicon Valley that drew such broad and enthusiastic support for Bernie Sanders?

Trump’s Zealots: White Supremacists And Evangelicals

November 2, 2020 Gilbert Mercier, Telesur English. Educate! 2020 Elections, right wing militia, Trump, Wall Street

Let us not be naive. If President Trump recently called on his adoring followers to “liberate” states like Michigan, Virginia, Maryland*, and Minnesota, which all happen to have Democrat governors, this is not about freeing people from the supposed tyranny of lockdown and social distancing measures. What the gun-toting, Trump 2020 and Confederate-flag waving Trump storm-troopers have been organized and likely paid to do, is to make sure the United States goes back to work as soon as possible. Naturally, this is despite the fact that the COVID-19 pandemic is still raging in all 50 states, at various levels, with no end in sight.

The Wall Street Crash And The Great Depression

September 8, 2020 James Kilby, Marxist.com. Educate! Class war, Depression, New Deal, Wall Street

With mass unemployment on the cards, many are comparing the current crisis to the Great Depression of the 1930s. In both cases, however, these crises were not 'accidental', but a product of capitalism's insoluble contradictions. Capitalism is entering into what looks set to be its deepest crisis ever. Although COVID-19 provided the trigger, a deep slump has been in the making for many years. With the stock market in turmoil, mass unemployment, and the perspective of a global depression, parallels are being drawn to the Great Depression of the 1930s – although even that may fall short as a parallel.

Wall Street Moving To Make A Mint Off The Mail, JPMorgan Postal Bank

September 1, 2020 Raúl Carrillo, Take On Wall Street. Educate! JP Morgan Chase, Postal Banking, US Postal Service, Wall Street

Imagine if activists and elected officials were clamoring for emergency provision of food and McDonald’s offered to place a drive-thru window in every post office. Calling it #postalfood. That makes as much sense as JPMorgan’s Chase recent attempt to place its own ATMs in every post office and call it #postalbanking. According to recent reports, Chase — the largest bank in the United States, with $3.2 trillion of assets — has offered to lease space from USPS in exchange for the “exclusive right” to solicit postal banking customers. Wall Street has consistently opposed the return of postal banking since its destruction in the 1960s. Chase and other nefarious actors are attempting to prevent competition before it even forms. The 2020 Democratic Party Platform and Biden-Sanders Unity Task Force recommendations both call for postal banking. But they also call on policymakers to separate retail banking institutions from more risky investments and protect consumers from high rates, onerous fees, inequitable credit reporting, and other harms.

Exxon Booted From Dow As Oil And Gas Falls

August 26, 2020 Brian Kahn, Earther Gizmodo. Educate! Dow Jones, Exxon, Oil and Gas, Wall Street

Spending 92 years doing anything is an accomplishment, so let’s cheers to Exxon Mobil Corp., which spent more than nine decades as a member of the Dow Jones Industrial Average, pillaging the planet, lying about climate change, and making rich people even richer. Now, those days have come to an end. One of the biggest oil companies on Earth has hemorrhaged money this year, and now it’s been booted from the Dow Jones because it just isn’t the superpower it once was. I almost feel bad for Big Oil these days. Almost. The news of Exxon’s removal from the Dow Jones comes amid a pandemic that has absolutely crushed oil.

US Firms Shield CEO Pay As Pandemic Hits Workers, Investors

May 31, 2020 Jessica DiNapoli and Ross Kerber, Reuters. Educate! Recession, Wall Street, wealth inequality, Workers

New York/ Boston - Sonic Automotive Inc (SAH.N), which operates 95 U.S. car dealerships, started laying off and furloughing about a third of its workforce as the coronavirus pandemic crushed its sales. Then it changed its executives’ pay packages - handing them a multimillion-dollar windfall. On April 10, Sonic’s board gave its top executives stock options to replace performance-based share awards, regulatory filings show. The options it gave Chief Executive David Smith, whose family controls the company, are now worth about $5.16 million - more than four times the value of the performance-based stock awards he got last year. Some of Sonic’s terminated employees, meanwhile, face hard times.

The Disconnect Between The Stock Market And The Real Economy Is Destroying Our Lives

May 6, 2020 Hamilton Nolan, In These Times. Educate! COVID-19, Recession, Wall Street, wealth inequality

In the month of April—as 30 million Americans filed for unemployment, and destitute small businesses closed forever, and rent strikes were demanded, and city and state governments forecast years of grim austerity—the U.S. stock market had its best month in more than 30 years. Day after day, we were treated to stories of absolute ruin in the real economy, right next to another glorious rise in stocks. After a sharp selloff in March, the S&P 500 index has bounced back to where it was in the fall of 2019, as if that little devastating global pandemic were nothing more than a fleeting, momentary annoyance. The glaring disconnect between the real economy, of working humans with jobs and bills to pay, and the investor class economy, embodied by the stock market, is one of the most brutal and devious political issues of this age of crisis in which we’re living.

The Myth Of V-Shape Economic Recovery

May 3, 2020 Jack Rasmus. Educate! COVID-19, Depression, Recession, Wall Street

The spin is in! Trump administration economic ‘message bearers’, Steve Mnuchin, US Treasury Secretary, and Kevin Hasset, senior economic adviser to Trump, this past Sunday on the Washington TV talking heads circuit launched a coordinated effort to calm the growing public concern that the current economic contraction may be as bad (or worse) than the great depression of the 1930s. Various big bank research departments predicting a GDP contraction in the first quarter (January-March 2020) anywhere from -4% to -7.5%, and for the current second quarter, a further contraction from -30% to -40%: Morgan Stanley investment bank says 30%. The bond market investment behemoth, PIMCO, estimates a 30% fall in GDP. Even Congress’s Budget Office recently estimate the contraction in GDP could be as high as -40% in the 2nd quarter.

«1 2 3 4 5 6 7 8 9 10 »

assetto corsa mods

Daily movement news and resources