When you, the king, rob an empire, you’re called a great king.
What does Wall Street really do?
When you say speculating in stocks, I mean, in theory that’s the way companies raise money to go, in theory, to do something productive, by selling stocks.
Take any stock in the United States.
The average time in which you hold a stock is–it’s gone up from 20 seconds to 22 seconds in the last year.
Most trades are computerized. Most trades are short-term.
The average foreign currency investment lasts–it’s up now to 30 seconds, up from 28 seconds last month. So we’re talking about really short-term.
The financial sector is short-term.
A transactions tax on finance would fund our shortfall and barely dent wealth holdings, but oops, we don’t tax Wall Street or multinationals. We’ll, listen up, balance the budget with cuts, by killing the beast, destroying our government. Isn’t that slowing one place that’s still moving? Live without it they say. Where’s the good in these beliefs?