A FedEx delivery man prepares a package for a GameStop store in New York City on January 27. The video game retailer saw its stock price soar in the last week of January, backed by fans pitting themselves against large investors who had bet that the stock would fall. Photo: Reuters A FedEx delivery man prepares a package for a GameStop store in New York City on January 27. The video game retailer saw its stock price soar in the last week of January, backed by fans pitting themselves against large investors who had bet that the stock would fall. Photo: Reuters
A FedEx delivery man prepares a package for a GameStop store in New York City on January 27. The video game retailer saw its stock price soar in the last week of January, backed by fans pitting themselves against large investors who had bet that the stock would fall. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

GameStop frenzy a symptom of an overstimulated market that needs a tax on financial transactions

  • While markets are riding high on monetary stimulus, the Fed’s objective is to spur real job growth, not trading fads. A tax on financial transactions would not only curb exuberance, but help foot the government’s stimulus bill

A FedEx delivery man prepares a package for a GameStop store in New York City on January 27. The video game retailer saw its stock price soar in the last week of January, backed by fans pitting themselves against large investors who had bet that the stock would fall. Photo: Reuters A FedEx delivery man prepares a package for a GameStop store in New York City on January 27. The video game retailer saw its stock price soar in the last week of January, backed by fans pitting themselves against large investors who had bet that the stock would fall. Photo: Reuters
A FedEx delivery man prepares a package for a GameStop store in New York City on January 27. The video game retailer saw its stock price soar in the last week of January, backed by fans pitting themselves against large investors who had bet that the stock would fall. Photo: Reuters
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David Brown

David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.