The largest transfer of wealth in the history of the world...

[georgephillip]

However we didn't get attacked by a middle-east country, we got attacked by a group of radicals.

15 Saudi radicals who trained in Germany and San Diego as well as Afghanistan. The US has been the greatest purveyor of violence on this planet for the last 75 years.

 

[Toddsterpatriot]

It’s unfair when big companies get bailouts by the taxpayers

Which bailouts?

Be a little more specific.

 

[Ray From Cleveland]

However we didn't get attacked by a middle-east country, we got attacked by a group of radicals.

15 Saudi radicals who trained in Germany and San Diego as well as Afghanistan. The US has been the greatest purveyor of violence on this planet for the last 75 years.

Yes, we know George. You are part of the blame America first crowd.

 

[gipper]

It’s unfair when big companies get bailouts by the taxpayers

Which bailouts?

Be a little more specific.

All of them. Have you looked up the definition for Fascism yet?

 

[Toddsterpatriot]

It’s unfair when big companies get bailouts by the taxpayers

Which bailouts?

Be a little more specific.

All of them. Have you looked up the definition for Fascism yet?

Definition of fascism

1 often capitalized : a political philosophy, movement, or regime (such as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition


Sounds awful. No mention of bailouts.

 

[georgephillip]

What makes you think the free market was supposed to do that?

Distributing income in a just manner is the opposite of capitalism's conception of a market free of rent-seeking and speculation.

 

[Toddsterpatriot]

What makes you think the free market was supposed to do that?

Distributing income in a just manner is the opposite of capitalism's conception of a market free of rent-seeking and speculation.

Distributing income in a just manner is the opposite of capitalism's conception of a market free of rent-seeking and speculation.

How just was the distribution of income in the USSR?

Maybe Michael Hudson knows?

 

[georgephillip]

2010 data? Wow! That's funny.

Here's something a bit more recent.

Your (2017) link:

"Where does HFT go from here?

"As consolidation becomes the order of the day in the HFT industry, this could have a disruptive impact of the rest of the marketplace.

"For example, with the acquisition of KCG, Virtu will effectively control one fifth of the US equity market.

"So what does this mean for market making going forward?

"'Any time you have consolidation with one or two firms providing all of the liquidity, you’re more likely to see short-term volatility. You’ll also have consolidation of information, and there is a lot of value in information. With consolidation in multiple asset classes there could also be a disruption in correlations,' adds Rival’s D’Arco."

Which sounds like another version of monopolistic rent-seeking.

 

[Toddsterpatriot]

2010 data? Wow! That's funny.

Here's something a bit more recent.

Your (2017) link:

"Where does HFT go from here?

"As consolidation becomes the order of the day in the HFT industry, this could have a disruptive impact of the rest of the marketplace.

"For example, with the acquisition of KCG, Virtu will effectively control one fifth of the US equity market.

"So what does this mean for market making going forward?

"'Any time you have consolidation with one or two firms providing all of the liquidity, you’re more likely to see short-term volatility. You’ll also have consolidation of information, and there is a lot of value in information. With consolidation in multiple asset classes there could also be a disruption in correlations,' adds Rival’s D’Arco."

Which sounds like another version of monopolistic rent-seeking.

"Where does HFT go from here?

More competition, more consolidation, less profit.

 

[Toddsterpatriot]

2010 data? Wow! That's funny.

Here's something a bit more recent.

Your (2017) link:

"Where does HFT go from here?

"As consolidation becomes the order of the day in the HFT industry, this could have a disruptive impact of the rest of the marketplace.

"For example, with the acquisition of KCG, Virtu will effectively control one fifth of the US equity market.

"So what does this mean for market making going forward?

"'Any time you have consolidation with one or two firms providing all of the liquidity, you’re more likely to see short-term volatility. You’ll also have consolidation of information, and there is a lot of value in information. With consolidation in multiple asset classes there could also be a disruption in correlations,' adds Rival’s D’Arco."

Which sounds like another version of monopolistic rent-seeking.

"For example, with the acquisition of KCG, Virtu will effectively control one fifth of the US equity market.

"So what does this mean for market making going forward?

Virtu......destroyer of worlds.....less than $5 billion in market cap.

How can we ever stop them? DURR.

 

[georgephillip]

Your link is pure BS. As soon as I seen the Socialist term unearned income, I knew it was written by somebody that has no idea WTF they're writing about.

"What Is Unearned Income?

"Unearned income is income from investments and other sources unrelated to employment.

"Examples of unearned income include interest from savings accounts, bond interest, alimony, and dividends from stock.1 2 Unearned income, known as a passive source of income, is income not acquired through work."

Unearned Income

John Stuart Mill put it this way in the 19th century: "Landlords grow rich in their sleep."

He was referring to hereditary parasites like Donald Trump or corporate landlords like BlackRock and not to individuals like you.

I've rented from some of the most hardworking individuals I've ever known and worked for some small business owners who were equally industrious.

Know what else both groups have in common?

They are among the most greedy people I have had the misfortune to meet.

 

[georgephillip]

Companies don't sell stock out of the goodness of their heart. In essence, they are selling part of their own company they created to strangers they never met in their life

Less than ten percent of all stock purchases are for the reason you mention. A much higher proportion are pure speculation, requiring each buyer to find a "bigger fool" to purchase an already inflated asset. And then there are stock buybacks:

Bloomberg News Attempts to Capture the “Speculative Frenzy” of Today’s Markets; Here’s the Key Stuff It Missed

"'Four of the 10 BHCs (Bank Holding Companies) will distribute more than 100 percent of their current year’s earnings, which alone could support approximately $537 billion in new loans to Main Street.'

"'If share buybacks of $83 billion, representing 72 percent of total payouts for these 10 BHCs in 2017, were instead retained, they could, under current capital rules, increase small business loans by three quarters of a trillion dollars or mortgage loans by almost one and a half trillion dollars.'"

 

[Toddsterpatriot]

"'If share buybacks of $83 billion, representing 72 percent of total payouts for these 10 BHCs in 2017, were instead retained, they could, under current capital rules, increase small business loans by three quarters of a trillion dollars or mortgage loans by almost one and a half trillion dollars.'"

Did small businesses or homebuyers need/demand another $1.5 trillion in loans in 2017?

When Bank of America, for instance, buys $10,000 of their stock from me, does that $10,000
disappear into thin air? Or is it now in a bank account of mine, available to lend to a home buyer
or small business?

 

[georgephillip]

Day Traders: Day traders make small amounts of money buying and selling stock, sometimes only holding on to shares for a few hours

According to this account only one percent of day traders are able to survive over a period of years; they are "little fish" in a much bigger scam:

Why Day Trading Stocks Is Not the Way to Invest | The Motley Fool.

"There are big risks to consider

"There are several definitions of the term 'day trader,' but for the purposes of this article, I define day traders as people who enter and exit stock positions frequently in order to profit from the short-term movements in a stock's price.

"Some hold positions for hours, while others hold stocks for minutes or even seconds at a time.

"According to a research report published by several university professors, only about 13% of day traders earn a net profit in any given year.

"Even worse, less than 1% of day traders are consistently profitable year after year. Why are these numbers so atrocious? Two main reasons: taxes and commissions."

Short-term movements in stock is one principal difference between industrial capitalism which actually produces useful goods and services and finance capitalism which largely rewards speculators and other parasites.

 

[Toddsterpatriot]

Day Traders: Day traders make small amounts of money buying and selling stock, sometimes only holding on to shares for a few hours

According to this account only one percent of day traders are able to survive over a period of years; they are "little fish" in a much bigger scam:

Why Day Trading Stocks Is Not the Way to Invest | The Motley Fool.

"There are big risks to consider

"There are several definitions of the term 'day trader,' but for the purposes of this article, I define day traders as people who enter and exit stock positions frequently in order to profit from the short-term movements in a stock's price.

"Some hold positions for hours, while others hold stocks for minutes or even seconds at a time.

"According to a research report published by several university professors, only about 13% of day traders earn a net profit in any given year.

"Even worse, less than 1% of day traders are consistently profitable year after year. Why are these numbers so atrocious? Two main reasons: taxes and commissions."

Short-term movements in stock is one principal difference between industrial capitalism which actually produces useful goods and services and finance capitalism which largely rewards speculators and other parasites.

No stock market in USSR.
That must be why their economy was so successful.

 

[georgephillip]

This investment system has made us the most wealthy country in the world.

That system no longer exists. At one time finance served industry and, for all its inequities and instability, those investments did make the US infrastructure the global gold standard.

That world ended about forty years ago when the FIRE sector began to eclipse real production. It is all about making money from money with no second thoughts about production or the rising tide of economic inequality.

America’s Path To A FIRE Economy

 

[Ray From Cleveland]

Day Traders: Day traders make small amounts of money buying and selling stock, sometimes only holding on to shares for a few hours

According to this account only one percent of day traders are able to survive over a period of years; they are "little fish" in a much bigger scam:

Why Day Trading Stocks Is Not the Way to Invest | The Motley Fool.

"There are big risks to consider

"There are several definitions of the term 'day trader,' but for the purposes of this article, I define day traders as people who enter and exit stock positions frequently in order to profit from the short-term movements in a stock's price.

"Some hold positions for hours, while others hold stocks for minutes or even seconds at a time.

"According to a research report published by several university professors, only about 13% of day traders earn a net profit in any given year.

"Even worse, less than 1% of day traders are consistently profitable year after year. Why are these numbers so atrocious? Two main reasons: taxes and commissions."

Short-term movements in stock is one principal difference between industrial capitalism which actually produces useful goods and services and finance capitalism which largely rewards speculators and other parasites.

I never said it was profitable for everybody, or everybody would be doing it. Day trading is high risk and a lot of people lose out. It's like buying options. Most people who buy options lose in the commodities market, and most people who offer options are successful. However one needs a lot more money to issue options than to actually buy them.

If furthers my point that all income is earned. Day traders, like real estate investors and commodities speculators can lose money and lose it fast. When you take such risks and are successful, of course you earned it.

 

[Ray From Cleveland]

This investment system has made us the most wealthy country in the world.

That system no longer exists. At one time finance served industry and, for all its inequities and instability, those investments did make the US infrastructure the global gold standard.

That world ended about forty years ago when the FIRE sector began to eclipse real production. It is all about making money from money with no second thoughts about production or the rising tide of economic inequality.

America’s Path To A FIRE Economy

Yet people are making more money now than ever; stock market hitting new highs all the time during the Trump era. We have record setting number of new millionaires every year.

The one part about your article is true: investments are not just for industry anymore. Many blue collar workers are invested in the market either for personal profit or retirement accounts. Yes, the market did change. The internet is instrumental in all this. Years ago the only way to find out how your stock was doing was what's in the newspaper the next day. It turned off a lot of people because the market can change so quickly, and they were at a disadvantage to the wealthy who had investments in then modern technology to give them more recent reports on their stock.

 

[georgephillip]

Once productive and socially useful activities are funded, they must never earn rent, interest, dividends or capital gains?

Depending on how "fictitious capital" affects income distribution

 

[Toddsterpatriot]

Once productive and socially useful activities are funded, they must never earn rent, interest, dividends or capital gains?

Depending on how "fictitious capital" affects income distribution

The only "fictitious capital" is your non-existent savings.

Good job!!!