There's 2.9 trillion dollars circulating in the worlds' markets every day, less than 2% of which goes to provide goods and services to humanity. The rest is one big casino, making money off money or losing money off money.
So, if you want a stable economy, you have got get out of the casino mentality hence, regulation becomes necessary. Banks and other financial institutions of developing countries are stable because the reserve requirements are higher and there are strict regulations on how money they can play with in the casino game, Hedge Funds.
Absolutely no economic activity takes place with casino games and one looses and other gains!
I say enough is enough, bring on regulations and have an equal playing field. Hedge fund managers making Billion dollars a year is paying 15% in taxes, why? They pay capital gains tax rate not income tax rate. Wonderful!
China's economy is on the brakes; Germany's is in recession.
I think this is probably the end for US independent financial markets. Other countries are going to try make trade agreements with the US only on conditions of regulation of finance.
we are in for one doozy of a recalibration...
There's 2.9 trillion dollars circulating in the worlds' markets every day, less than 2% of which goes to provide goods and services to humanity. The rest is one big casino, making money off money or losing money off money.
So, if you want a stable economy, you have got get out of the casino mentality hence, regulation becomes necessary. Banks and other financial institutions of developing countries are stable because the reserve requirements are higher and there are strict regulations on how money they can play with in the casino game, Hedge Funds.
Absolutely no economic activity takes place with casino games and one looses and other gains!
I say enough is enough, bring on regulations and have an equal playing field. Hedge fund managers making Billion dollars a year is paying 15% in taxes, why? They pay capital gains tax rate not income tax rate. Wonderful!
It’s also the prime mover that makes it work.
It only works for a few though.