GameStop’s wild ride will leave some investors with a huge tax bill and what minimum wage hikes did for McDonald’s restaurants and workers

These are the last days of small government and the Biden administration will make sure of that

Happy Thursday MarketWatchers. Don’t miss these top stories:

My father inherited money from his parents — he now tells people he earned it due to his (nonexistent) investment prowess

‘I would like my dad back, but I am afraid he is too far gone’

‘I have been plagued by enormous guilt and regret:’ I tried to care for my late father, but I gave up. How can I ever forgive myself?

‘He was a good father, except everything had to be his way. But I know I was a cruel and horrible son.’

Ivanka Trump and Jared Kushner’s DC home is available to rent — for $18,000 a month

Here’s a real estate tip for folks joining the incoming Biden administration: A rental vacancy has opened up in the tony DC neighborhood of Kalorama—an area known for foreign diplomats and political heavy hitters.

5 ways to make this year better than last year

Make 2021 your year of wellness—including financial wellness

‘Taxes are usually an afterthought:’ GameStop’s wild ride will leave some investors with a huge tax bill

GameStop’s and AMC’s winners and losers will likely face some serious tax questions on their 2021 return.

Hamptons real estate is being upended like never before — here’s what that means for this summer

Jane Gill has been working in Hamptons real estate for 15 years. She’s never seen a market like this.

What minimum wage increases did to McDonald’s restaurants — and their employees

A Princeton economist looked at the impacts of wage increases over five years at U.S. McDonald’s fast-food restaurants.

New home sales rise slightly, even as buyers see more affordability constraints

The median price of a newly-built home was up roughly 8% from a year ago in December.

Why your Credit Karma score may be higher than your FICO score. ‘Most people would seriously be stunned if they knew just how many credit scores there are’

It’s a common misconception that you only have one credit score.

New York tenants may now be more than $2 billion in debt to their landlords

A collapse in apartment rent collection during the pandemic is forging one of New York’s most unlikely political alliances.

Elsewhere on MarketWatch
Pelosi says House to vote on budget next week, clearing way for Biden economic plan

House Speaker Nancy Pelosi said she expects the House and Senate to adopt a budget next week that would allow Democrats to eventually pass President Joe Biden’s economic plan without any Republican votes.

Why questions about asset bubbles like the speculation swirling around GameStop keep dogging the Fed

The Federal Reserve has been debating what to do about asset bubbles for twenty-five years. It hasn’t resolved the issue.

Biden reopens Obamacare marketplace, ends certain restrictions on abortion funding

President Joe Biden’s executive actions on Thursday reopen, lower recent barriers to getting Medicaid and lift certain restrictions on abortion funding.

Want greener cars? Focus on fuel efficiency over electric vehicles

Gas-guzzling pickups and SUVs swamp the climate-change benefits from Tesla and other electric vehicles.

AstraZeneca vaccine should only be given to under-65s, Germany recommends as EU shortage crisis deepens

The U.K. has started manufacturing up to 60 million doses of a new COVID vaccine — on its home turf.

U.S. economic growth slowed to 4% annual pace at end of 2020

The U.S. economy grew at a modest 4% annual pace in the final three months of 2020 as a record wave of coronavirus cases stunted the recovery, pushing out the timetable for a stronger rebound until later this year.

Mark Cuban, Dave Portnoy, AOC and others react to Robinhood restricting trades on GameStop and AMC

Trading platforms like Robinhood, TD Ameritrade and Interactive Brokers have halted purchases on such stocks.

GameStop saga’s real lesson: ‘Don’t short troubled companies at the start of an economic cycle’

The battle between day traders and short sellers over GameStop Corp. that’s blotting out everything else on Wall Street this week offers up an important but much more lasting and practical lesson for investor than the dominant David vs. Goliath narrative would suggest.

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