It's a goodish start but I'm still lock convince it would be enough . I have also read that it will not negatively effects the economy which is good but I'm Not 100% convinced
2020 US Elections | Biden certified as President | Dems control Congress
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It's a goodish start but I'm still lock convince it would be enough . I have also read that it will not negatively effects the economy which is good but I'm Not 100% convinced
HFT inherent negatively effects "the economy". It literally is skimming money off the top of transactions solely for the purpose of personal profit
Eliminating it entirely would instantly benefit the bottom 80% of citizens albeit indirectly and in ways invisible to the average citizen.
Of course it won't be enough but it would, as Sanders suggested, generate enough to forgive student debt and probably make a significant dent in the cost of universal healthcare. Brian Schatz also drafted up something that would place a .1percent tax on HFTs (compared to .5 percent Sanders is suggesting). Both are too low imo, since 90% of trades are now done by algos and we need to get a grip on reducing that back into a decent number where humans are in charge. If we don't it could lead to another epic flash crash at some point. So a 1 percent tax on each transaction would raise something ridiculous like about 7-8 trillion over a decade, which alone would fund most programs.
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Is that taking into account the decline of those transactions or just 1 percent of the current amount of transactions? There will be a lot fewer automated transactions once they actually cost a significant amount.
(That isn't an argument against doing it, i'm all for it, just a question concerning the potential tax income from it)
I'd need to revise down a bit, but yes, the $1 per transaction tax would take into consideration the likelihood that HFTs would probably decline a bit, but not too much as long as they continue to probabilistically make market makers money. .1% or even .5% would therefore be not enough imo.
1 percent is way too much even the 0.5 Sanders suggest is pretty steep but at a point where I still think will be overall benefit. 1 percent with reduce overall trades too much I think
That’s the entire point. 90% of trades are done by algos, which at some point will catch up to the market via another giant flash crash. It’s a win/win for the public, who will get money for services and the market, which will become more stable.
Hes senile.
That doesn't matter. You can eliminate 100% of HFT and it wouldn't affect anyone else because HFT are already piggy backing on trades already happening.
I think you might be getting HFT confused with just automated and algo trading. It's not just that. When talk HFT they don't mean algo trading, totally different things.
HFT requires the physical component of being at the front end of the fiber network of the exchange itself. HFT, With this advantage only available to the select few insiders, they then piggy back on other people's trades by buying at the lowest price a fraction before they resell to the trade already happening a fraction later thus skimming pennies off the top of each trade. It's an advanced form of buy low-sell high that is only available to these select elite finance boutiques that have a physical fiber optic advantage that 99.x% of institutional investors (let alone street bums like us) simply cannot physically ever have access to. Watch the old movie Office Space because that's pretty much exactly what they are doing except legally.
They are not actually generating any economic activity on their own. Their entire model is leeching off of trades that are already happening. Don't let Wall Street confuse you into thinking HFT means algo trading because its a lot more than that and outlawing HFT would have zero effect on real economic trading.
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Thats being kind
The man is old.
True. Feck off already Biden. Leave the election to those who want to make substantial changes.
Good post
I always thought they earn tiny amounts per trade and earn their money by doing millions/billions of trades, 1$ per transaction would be a lot if that's still the case? I wouldn't mind them effectively being banned either way though. (At least those that simply earn their money by being at the market place before the actual buyer).
Some do. It would probably have to be a bit more proportional to the transaction. The premise of taxing HFTs is what is important and needs to be championed more than what most candidates (other than perhaps Sanders) have been doing.
If purpose is to gain revenue, then it'll be a failure. If purpose is to stop HFT, then it'll be a success. HFTs usually operate on razor thin margins and need scale, so a tax per transaction will kill the business in all probability. Anyway no big deal. That business is better off dead.
this is the guy shamans cant get enough of
Biden is embarrassing.
One thing iv discovered after 2016 is Bernie fans are every bit as extreme as Trump fans . In so many ways they are similar . Totally one minded and unable to accept any other option there is no arguing with them or ever getting them to understand anything other than their guy winning .
It doesn't matter to them whether Democrats win or not jthey just want their guy nothing else matters
They just are not as plentiful as Trump fans but they make up for it every other way
thats a very normal response
After votes like a shark after dangly limbs. Lifeless eyes, black eyes like a doll's eyes.
We are ruled by sociopaths.
One thing iv discovered after 2016 is Bernie fans are every bit as extreme as Trump fans . In so many ways they are similar . Totally one minded and unable to accept any other option there is no arguing with them or ever getting them to understand anything other than their guy winning .
It doesn't matter to them whether Democrats win or not jthey just want their guy nothing else matters
They just are not as plentiful as Trump fans but they make up for it every other way
And it only took you 3 years? You're a regular Louis Pasteur.
i think a big disconnect is that people who inhabit the right wing of the democratic party cant understand how bernie supporters process politics. they dont have a coherent ideology, they dont think about politics with an ideological framekwork and they dont understand people who do. its always "why do bernie bros only want their guy" or "why are bernie fans constantly attacking the other candidates".
Fanaticism is the life blood of any successful movement. You don't jump in front of a horse, march against fire hoses, or self immolate on a sound argument alone.
It's little surprise that almost the first guy in the running to not be impaled by the corporate fist, should have a section of his support base prone to fanatic excitement. It is exciting, and weird.
On the day Bernie storms the Bastille I'll be streaming that shit live with my fist to the sky - word to Gilbert.
It's little surprise that almost the first guy in the running to not be impaled by the corporate fist, should have a section of his support base prone to fanatic excitement. It is exciting, and weird.
On the day Bernie storms the Bastille I'll be streaming that shit live with my fist to the sky - word to Gilbert.
They see it as a football match.
The reality is that there is only one side. They wont understand that.
This is a bad post and you should feel bad for writing it.
One thing iv discovered after 2016 is Bernie fans are every bit as extreme as Trump fans . In so many ways they are similar . Totally one minded and unable to accept any other option there is no arguing with them or ever getting them to understand anything other than their guy winning .
It doesn't matter to them whether Democrats win or not jthey just want their guy nothing else matters
They just are not as plentiful as Trump fans but they make up for it every other way
It's not really Bernie fans are just as bad as Trump fans. Iv seen Bernie fans saying they won't vote if Bernie doesn't get the nomination which is pathetic .
The important thing is beating Trump then we can move on from there just handing it to him for 4 more years out of spite that their guy lost is so petty and brainless
To you. To others defeating Trump in itself isn't necessarily as important as changing the aspects of American society which allowed him to come into power in the first place. Four years of, say, Biden doesn't make the US invulnerable to someone like Trump rising and succeeding again if Biden doesn't fix or even try to fix a lot of the structural and social problems within the US that have allowed something like this to happen. And for a lot of leftists Biden just isn't enough to convince them to vote Dem. He's largely blind to the problems facing younger people today and still operates on the bizarre notion that 'both sides can work together' even though the Republicans have shown no interest in doing this and will use any goodwill they receive to disrupt a Dem presidency.
So if you think Bernie fans will only vote for Bernie and the most important thing is to beat Trump then you should then insist that everyone vote for Bernie in the primary, right?
More Clinton “fans” voted McCain than Bernie supporters voted Trump. Plenty of Clinton fans wouldn’t have voted for Bernie and there will be supporters of every candidate who votes in the primary who won’t vote in the general. Stop talking out your hoop
#throwback #4yearsago #anniversary
This is also a bad post. Voters not voting for the establishment choice because their guy isn’t nominated isn’t just limited to Bernie, nor is it the most notorious woth his voters. It’s also a well known fact based on all polls that most Bernie voters choose Biden as their second choice. So please don’t waste my time with that nonsense argument.
Second it is extremely naive to think the most important thing is getting Trump out of office. Like do you even listen to the problems that people are having? Do you realize that an array of conditions exist that lead to Trump? Do you realize that even with Trump gone, that Trumpism still exists among people?
Third, if your top priority is merely based on who some voters would vote for if their guy isn’t nominated as your argument against someone, then you can’t be taken seriously and you are just as tribal as you claim Bernie supporters to be.
The Democratic Party and the Republican Party are the left and right hand of the Devil.
Any election is about the people that need to be represented and helped not about the candidates.
The MSM does its best to misinform and disinform.
Any election is about the people that need to be represented and helped not about the candidates.
The MSM does its best to misinform and disinform.
Sometimes I feel like I'm on Facebook in this thread.
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