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Big League Economics

Class Action Lawsuits Against Robinhood Filed After Trading Company Restricts Transactions on GameStop and Other Stocks

So much for “letting the people trade…”

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The commission-free stock trading and investing platform Robinhood is facing at least two lawsuits as of early Thursday afternoon. They come in response to transaction restrictions on GameStop and other stocks at the center of an incredible run-up.

One lawsuit is a class action complaint filed in New York by Brendon Nelson. It alleges that Robinhood “purposely, willfully, and knowingly removing the stock ‘GME’ [GameStop] from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market.”

Another lawsuit was filed in Chicago by Richard Joseph Gatz, according to Bloomberg News. In that lawsuit Gatz claims that Robinhood’s decision to freeze trading on Blackberry, Nokia, and AMC “has caused irreparable harm” and protected “institutional investment at the detriment of retail customers.”

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In light of Robinhood’s restrictions, internet sleuths were able to dig up a March 2016 tweet from the trading company in which they said “Let the people trade.” Seems as if they’re temporarily reneging that declaration…

On Wednesday Big League Politics covered Discord’s ban of their Wall Street Bets server for alleged “hate speech.” Discord claims it has absolutely nothing to do with people on that server beating Wall Street investors at their own game—a claim not many are believing, to say the least.

This stock market saga is already shaping up to be one of the most interesting stories of 2021. Stay tuned to Big League Politics for further updates.

Big League Economics

Globalists are Planning ‘Climate Lockdowns’ to Finish Off Economic Prosperity in the West

They are coming for everything.

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While COVID-19 mass hysteria may be waning, the globalists are intent on continuing the trend of locking down society and destroying economic prosperity for the peasants.

After the scamdemic comes to an end, it will be climate change used to pump the masses full of fear and get them to accept Draconian measures to cripple their own civilization.

Mariana Mazzucato, a professor at the Economics of Innovation and Public Value Center at University College London, is setting the stage for climate lockdowns if unprecedented taxation and centralized power are not exerted over the economy.

“Under a ‘climate lockdown,’ governments would limit private-vehicle use, ban consumption of red meat, and impose extreme energy-saving measures, while fossil-fuel companies would have to stop drilling,” Mazzucato wrote in her white paper, Avoiding a Climate Lockdown.” 

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She contends that the only way to stop the inevitability of climate lockdowns is to “overhaul our economic structures and do capitalism differently,” meaning do away with it entirely and replace it with totalitarian socialism.

“[G]overnment assistance to business must be less about subsidies, guarantees, and bailouts, and more about building partnerships. This means attaching strict conditions to any corporate bailouts to ensure that taxpayer money is put to productive use and generates long-term public value, not short-term private profits,” she wrote. 

“Because markets will not lead a green revolution on their own, government policy must steer them in that direction. This will require an entrepreneurial state that innovates, takes risks, and invests alongside the private sector,” Mazzucato contended.

Her writings are already influential, according to the New York Times, among politicians who are using her scribblings as an excuse to take unprecedented power-grabs.

Sen. Elizabeth Warren (D-MA) has incorporated Mazzucato’s writings into policy ideas such as using “federal R & D to create domestic jobs and sustainable investments in the future.” Rep. Alexandria Ocasio-Cortez (D-NY) is considering Mazzucato’s ideas to strengthen her Green New Deal proposal.

Even Republican lawmakers are embracing Mazzucato’s extreme anti-capitalist doom prophecies. Sen. Marco Rubio (R-FL) cited Mazzucato in his proposal, “American Investment in the 21st Century,” which is essentially a manifesto of surrender to the Left from the failed neoconservative 2016 presidential hopeful.

“We need to build an economy that can see past the pressure to understand value-creation in narrow and short-run financial terms,” Rubio wrote in the introduction, “and instead envision a future worth investing in for the long-term.”

Mazzucato has also influenced former British Labour Party leader Jeremy Corbyn, former British prime minister Theresa May, and Scottish leader Nicola Sturgeon. Mazzucato’s reach extends to other countries such as Germany and South Africa, and she is considered a charismatic rising star in the field of economics.

It should be obvious by now that the ruling elites never intend to restore freedom to pre-COVID levels. The lockdowns are a permanent fixture of society now, and they will be reintroduced at some point under the guise of stopping climate change.

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