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Financial Markets
The Market’s Big Lie
How we’ve all been fooled by Wall Street.
The rise of Dogecoin, GameStop, AMC, and other ‘meme stocks’ is not unusual in the financial world. But a global quarantine, rampant use of social media, and financial democratization through easy-to-use apps have made these assets household names.
In many ways, this is favorable — what we have witnessed in the last decade is nothing short of a revolution. The world of high finance has made its way to the people.
They are more aware of the ongoings in this world than ever before, and are able to participate thanks to access-driven firms like Robinhood, whose fee-less structure revolutionized the brokerage industry. And as a result, low-volume everyday individuals who previously could not justify trade commissions with large lots, can engage in the marketplace and make their money work for them.
But while these revolutionary changes have brought a newfound power to everyday people, they have ultimately been left disenfranchised, lacking the education and tools necessary to navigate a ruthless market. And it all stems from a few disastrous lies purported throughout the internet and implicit in anyone yet to test their validity.
