2011/12/20: the amount of electricity that goes to HFT activity is not only not presently a problem, but it has a very long way to go before it’s cause for concern. But my point is that, unlike other types of energy use, which have natural limits and constraints, and which deliver actual goods and services as an end product, there seems to be nothing stopping HFT from becoming a problem at some future date. There is no theoretical cap on the number of participants in the stock market, and there’s no theoretical cap on the number of trades per second that those participants can generate, and, thanks to derivatives, there’s no theoretical cap on the notional amount of money that market participants can shuffle around among themselves. So, again, the amount of power that goes into HFT activity can and will grow, and nothing can stop it.
2018/07/22: Of the world’s 100 largest economies, 69 are transnational businesses. How can we control—and ultimately transform them?
Changes in our personal consumption patterns are important, but are ultimately inconsequential compared with the impact of the transnationals that have come to dominate our global economic and political system.
countries and cities compete with each other to beg their corporate overlords for investment dollars, even it means undermining public services and legal protections for their own populations.
Tax stock trades based on the length of the holding period:
- 10% if the stock is held less than a day
- 5% if less than a year
- 3% if less than 10 years
- 1% if less than 20 years
- Zero if more than 20 years
The effects of this single step would be enormous. The financial services industry would be transformed overnight. High frequency stock trading and same-day traders would disappear.
The market is always “just one step away from massive volatility because of programmed trading,”
Without it you can't make a phone call, buy a stock, pull cash from an ATM, or use electricity.
Computer algorithms swap thousands of stocks each instant-and could set off a financial meltdown.