| This is Bloomberg Opinion Today, a short-duration portfolio of Bloomberg Opinion's opinions. Sign up here. Today's AgendaReddit Gamers Can't Play With BondsGameStop Corp. shares were up again on Tuesday, more than 3,000% higher than they were priced a year ago. Have the gaming fans who missed out on another "overbought" item — the elusive PlayStation 5 console — simply found another way to entertain themselves during quarantine? Or are they right in betting that the entrepreneur behind an online pet-food company can transform GameStop into … whatever he thinks he can transform GameStop into? In any case, Reddit users have essentially turned investing into a game of Mario Kart, tossing banana peels at short sellers and helping each other dodge blue shells that could blow up their winning positions. Bond traders want nothing to do with it. After a 2020 that left many of us craving a bit of boring for once, actively managed bond ETFs are emerging and happy to oblige, Brian Chappatta writes. With credit spreads so low, these ultra-short-duration ETFs can't possibly compete with the returns of a flash-mob-orchestrated short squeeze or with professional stock pickers such as Cathie Wood. But they're better than cash and offer safety from bananas. By the way, is all this banana throwing and pumping up stock prices illegal? It's not so straightforward, Matt Levine writes. And a cursory scan of the U.S. Securities and Exchange Commission website reveals no official position on "lolz trading" — yet? Still, it's probably not healthy. Short sellers play an important market function, and clearly there's too much liquidity if they're purely the target of an internet joke, John Authers writes. For now, it means that every out-of-the-blue trading bonanza will have to be followed by a Reddit search. The latest curious stock move came from Beyond Meat Inc., a maker of non-meat meat that some short sellers have tried to feast on. Its shares jumped as much as 39% on Tuesday before closing with a gain of 18% — living up to its name by leaving real meat stocks in the dust. Beyond Meat did announce that it's collaborating with PepsiCo Inc. on creating new plant-based beverages and snacks. The partnership could make more consumers curious to try Beyond Meat and expand its distribution, Sarah Halzack writes. Is that enough to explain an immediate double-digit pop? Hmm. Just Pay a Living WageA compelling study done through an iPhone app has determined that money doesn't just buy happiness, it keeps on buying it, rather than maxing out once a person's pay reaches a certain level. And yet politicians and corporations are in an endless debate over the bare minimum that employers can pay workers. The Joe Biden administration needs to shift the focus to providing a living wage, not a minimum one, Nir Kaissar and Timothy L. O'Brien write. Even $15 an hour won't cut it in many parts of the U.S. More targeted efforts could include using data the federal government already collects on Americans to find out who isn't earning a living wage and contact their employers, and requiring workers to be represented on corporate boards. Gauging Biden's ClimateAs the energy industry tries to determine just how aggressive Biden will be on climate regulation, the number to watch for is the "social cost of carbon," Cass R. Sunstein writes. This metric will seek to put a price on damage from carbon emissions and fuel the administration's policies. Biden has already taken one telling step by freezing new fracking leases on federal lands for 60 days. Indeed, it may be just the beginning of changes that cause investors to stay away from oil and gas stocks, Liam Denning writes. But has Biden thought about cryptocurrency in the climate context? Lionel Laurent writes that there's actually a big environmental cost to mining Bitcoin: Coal accounts for 38% of miner power. Telltale ChartsKamala Harris's shattering of the glass ceiling may bring more Black people and women into the diversity-deficient ranks of the economics profession, Rhonda Vonshay Sharpe writes.  General Electric Co.'s cash generation is looking good again, but now it must work to iron out the lumpiness of quarterly results, Brooke Sutherland writes.  Further ReadingWithout a clean break from Leon Black, Apollo Global Management Inc. has to work extra hard to show it takes women's equality seriously. — Chris Hughes Biden's plans to expand the number of Covid-19 vaccination centers and order more doses could put a dent in cases. — Bloomberg's editorial board Europe's Covid-19 vaccine rollout has been slow, too, the consequences of which could be disastrous. — Ferdinando Giugliano Comcast Corp. is getting ready to rumble the streaming world by putting WWE wrestling on its Peacock app. — Tara Lachapelle Republicans' claims that ex-presidents can't be impeached or convicted are just a diversion tactic. — Jonathan Bernstein ICYMITuesday's internet outages brought the work-from-home disruption employers fear. Biden presses Vladimir Putin on U.S. cyberattack in their first phone call. Twitter is getting into the newsletter publishing business. KickersExtra-loud cicadas are coming to ruin your work-from-home peace. (h/t Ellen Kominers) City mice may have more street smarts. (h/t Alistair Lowe) The Lizzie Borden house is selling for $2 million. This zoo will name a cockroach after your ex. Note: Please send alternative proteins and complaints to Tara Lachapelle at tlachapelle@bloomberg.net. Sign up here and follow us on Twitter and Facebook. | 
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