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I have indeed also wondered about the 1971 gold standard change by Nixon, which seemed to be followed by huge inflation culminating in Volker decimating inflation by rising interest rates. But I wonder, how would rising interest rates so high (tripling them) not blow up the debt bubble back...

Some great answers here that I need to research more. I appreciate your inputs.

PCs were being introduced. But it is unclear to me if they had had time to have a big impact by 1982. One event is that the shah died and the US lost an important ally. In the 70s there was the oil crisis, so perhaps the loss of the control of the oil price as a monetary policy tool was part...

Interesting comment. I had little money (and some debt) then as well. I remember the comment that in the great depression, no one had money then either. So could it be as simple as we need to wait until all of us see great bargains and have no money to begin the next great bull market? (That...

I read an interesting article by Lance Roberts entitled Personal Incomes and the Decline of The American Saver. He argues that something fundamentally changed around 1980. (google it to read it) Independently, I think there were two (for me fundamental but as yet) unexplained changes in the...

Great answer! LOL

I am dependently wealthy since I use cash or credit often and I don't have a printing press.

She should change her name from NoDoji to NoGuru! All of the searches for certainty, gurus, magic are ego related. Ego will bury traders in the long run. Focusing on return is focusing on the wrong thing, why not simply learn to trade well?

There is simply not enough room in prison for this. Also, the jailers could be part of the problem. For example, until not so many years ago, insider trading was OK for congresspeople I thought. I have wondered how many (if any) elected officials had some of those offshore accounts avoiding...

Excellent article. I don't think there is any safety at all on the Internet so hacking is not impossible. I really do think there will be an international attack on some country's banking institutions (and possibly some military and infrastructure targets) some day as a prelude to a war...

Because the HFT front-running robots would make short work of the hackers. They would lose all their money before they could even blink. Where would they go to complain?

Because the same person trumpeting that he is the most adored followed poste rstarts a thread complaining that the posting rate has plunged. Does anyone see the irony in that!

A thought for you. Good traders measure their performance continuously. If your trading is poor relative to past years and everyone else is doing fine that is an important thing to know; if your trading is poor relative to past years and many others are having troubles, that is another key...

Excellent comment. One of the reasons volatility drops is when the sardines are unable to feed. I think that it's one of the very interesting features about the health of these markets. Volume is another aspect to watch. Some posters say "just trade longer term". I presume their reasoning...

Interesting. Until your post, I didn't know there was competition in NBBO. Perhaps the regulatory bodies should look into that. I think that NBBO is meaningless without a finite time period association and a finite place.

I like this idea. That computer could be the recording computer of the regulatory body so that the fines could be automated as well. All primary brokers should have an id number to show precisely who traded. If someone is found to have been quote stuffing or any kind of illegal trading, the...

This statement is true and false I think. Years ago, human market makers couldn't win every single time. Some computer programs can today. How does a trading house not lose on a single day in a quarter - what kind of legal edge is that? Don't forget that human MARKET MAKERS were also put out of...

I agree with Bob. I remember writing (about the HFT war games) that what happens to the small fish, eventually hits the large fish. We are in the environment together. Soon firms will be passing the hat again.

Thanks for your warning. I am afraid it is decades too late for me. It is true for the vast majority of folks and the mistakes made are so many that it's hard to list them all. Trading success doesn't correlate with the number or quality or speed of monitors, computers or anything like that...

and Respectfully, the ignorance around HFT, AI and the fairly recent changes to the market micro-structures never ceases to amaze me. It shows how shallow some market participants are thinking about the market. I think some people need to look for implications much deeper than may be...