Full Disclosure with James O'Brien Gary Stevenson: Why I gave up making millions as a City trader to fight wealth inequality
14 snips
Mar 1, 2024 
Gary Stevenson recounts how he went from a successful City trader to a wealth inequality crusader, reflecting on the moral implications of profiting from economic collapse. He challenges the societal obsession with money and advocates for a more equitable distribution to combat wealth inequality.
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Economics Often Ignores Distribution
- Gary Stevenson points out mainstream economics often ignores distribution by using 'representative agent' models.
- That blindness makes policymakers miss who benefits when huge fiscal money is injected.
COVID Support Fueled Asset Wealth
- Gary traces COVID fiscal support and shows it disproportionately enriched the rich via asset holders.
- He argues government transfers replaced luxury spending and boosted asset owners, widening wealth gaps.
Beware Risky Trading Tools
- Gary warns spread betting and options are risky and not casual trades for listeners.
- He cautions people that you could lose a ton of money and to treat such strategies as dangerous.