1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Anyone ever add the 0.25% the "Let Wall Street Pay for Wall Street's Bailout of 2009", which had a 91% unfavorable rating, proposed tax to their strategies?
It's catastrophic! Much like me trying to find a hyper-leveraged way to bet 1000 years of world gdp that FTT is harmful to all countries who support it.
I say let them, then we'll see how quickly those supporters lose their political credibility as the desolate waste of trillions and billions of shares leaving the country as a direct result of such economic foolishness and idiocy.
Tobin takes the cake for dumbest economist of all time, though not quite as stupid as Giffen calling goods that increase in demand due to increasing price, when that never happens and the literally weakest argument for an example of giffen good happened under famine conditions in Ireland in the 19th century and there is no other example in the history of recorded time where that has ever been the case. Tobin and Giffen might have some credibility to the loony leftist or socialist economists and journalists that don't know any better, but when it comes to FTT please help me find a way to short their markets in that proportion before they ban that, too.
Anyone see the Bovespa losing 20+% since FTT?
It's catastrophic! Much like me trying to find a hyper-leveraged way to bet 1000 years of world gdp that FTT is harmful to all countries who support it.
I say let them, then we'll see how quickly those supporters lose their political credibility as the desolate waste of trillions and billions of shares leaving the country as a direct result of such economic foolishness and idiocy.
Tobin takes the cake for dumbest economist of all time, though not quite as stupid as Giffen calling goods that increase in demand due to increasing price, when that never happens and the literally weakest argument for an example of giffen good happened under famine conditions in Ireland in the 19th century and there is no other example in the history of recorded time where that has ever been the case. Tobin and Giffen might have some credibility to the loony leftist or socialist economists and journalists that don't know any better, but when it comes to FTT please help me find a way to short their markets in that proportion before they ban that, too.
Anyone see the Bovespa losing 20+% since FTT?
Interesting article on the Bovespa.
Individual investor accounts declined in number by 22,000 last year due to the financial transaction tax and the Bovespa declined by 20% going on 50-70% unless the tax is repealed.
http://www.brazilianbubble.com/2011...howComment=1326510393349#c6079272967618710563
Individual investor accounts declined in number by 22,000 last year due to the financial transaction tax and the Bovespa declined by 20% going on 50-70% unless the tax is repealed.
http://www.brazilianbubble.com/2011...howComment=1326510393349#c6079272967618710563
Ratings Cut Deals Blow to Sarkozy - WSJ.com
http://online.wsj.com/article/SB10001424052970204409004577159132175102196.html
My Comment on WSJ:
Sarkozy must withdraw his Financial-Transaction Tax proposal, as it was a contributing reason to S&P's ratings cut on France._
It's really a Socialist Transaction Tax as Socialists are demanding it. Sarkozy is behind in the polls, and he needs to propose this Socialist Transaction Tax to appeal to bank-bashing-independent voters and hold the Socialist opposition at bay. The Socialist presidential-contender Mr. Hollande is equally to blame. Both Sarkozy and Hollande should agree to scrap the FTT proposal.
S&P said they won't raise ratings back for these EU countries downgraded without new signs of growth. FTT reduces growth by 1.76% per EU studies.
S&P said it doesn't like diverging competitiveness across the EU. Passing FTT in France only, which Sarkozy is calling for, will make financial-sector competitiveness a major problem in France. Bankers, traders and funds will flea to London, as the UK opted out of the new EU-fiscal compact because they said they will veto FTT on an EU-wide basis. Passing_FTT in some countries, and not EU or G-20-wide makes diverging competitiveness a major issue for ratings agencies.
S&P is watching the French and German financial sectors to see if they get worse. S&P said this could trigger a downgrade for Germany too.
S&P said disintegration of the EU and euro zone hurts, and it contributed to this downgrade. FTT makes disintegration and infighting worse. FTT is the main reason why the UK would not sign the EU fiscal compact, which threw EU governance into disarray.
FTT will surely accelerate rating agency downgrades, and it's reckless for Sarkozy, Merkel and socialists to keep it on the table.
Sarkozy is losing his reelection by trying to appeal to socialists. Why not change course and explain how the free market can generate growth and lead France to recovery of its rating, economy and jobs.
PS. Let's keep focusing our anti-FTT efforts on France. This S&P downgrade must give them pause on some policies, even if they claim otherwise. Try to get this above message in all the French and EU media and hopefully France and others will see that FTT is much more trouble than they erroneously think it might be worth.
http://online.wsj.com/article/SB10001424052970204409004577159132175102196.html
My Comment on WSJ:
Sarkozy must withdraw his Financial-Transaction Tax proposal, as it was a contributing reason to S&P's ratings cut on France._
It's really a Socialist Transaction Tax as Socialists are demanding it. Sarkozy is behind in the polls, and he needs to propose this Socialist Transaction Tax to appeal to bank-bashing-independent voters and hold the Socialist opposition at bay. The Socialist presidential-contender Mr. Hollande is equally to blame. Both Sarkozy and Hollande should agree to scrap the FTT proposal.
S&P said they won't raise ratings back for these EU countries downgraded without new signs of growth. FTT reduces growth by 1.76% per EU studies.
S&P said it doesn't like diverging competitiveness across the EU. Passing FTT in France only, which Sarkozy is calling for, will make financial-sector competitiveness a major problem in France. Bankers, traders and funds will flea to London, as the UK opted out of the new EU-fiscal compact because they said they will veto FTT on an EU-wide basis. Passing_FTT in some countries, and not EU or G-20-wide makes diverging competitiveness a major issue for ratings agencies.
S&P is watching the French and German financial sectors to see if they get worse. S&P said this could trigger a downgrade for Germany too.
S&P said disintegration of the EU and euro zone hurts, and it contributed to this downgrade. FTT makes disintegration and infighting worse. FTT is the main reason why the UK would not sign the EU fiscal compact, which threw EU governance into disarray.
FTT will surely accelerate rating agency downgrades, and it's reckless for Sarkozy, Merkel and socialists to keep it on the table.
Sarkozy is losing his reelection by trying to appeal to socialists. Why not change course and explain how the free market can generate growth and lead France to recovery of its rating, economy and jobs.
PS. Let's keep focusing our anti-FTT efforts on France. This S&P downgrade must give them pause on some policies, even if they claim otherwise. Try to get this above message in all the French and EU media and hopefully France and others will see that FTT is much more trouble than they erroneously think it might be worth.
big enough deal, i thought, to call attention to it in a separate thread.
Bottom line:
If Frankfurt acquires NYSE, NYSE is DEAD
http://www.elitetrader.com/vb/showthread.php?threadid=234699
Bottom line:
If Frankfurt acquires NYSE, NYSE is DEAD
http://www.elitetrader.com/vb/showthread.php?threadid=234699
It probably won't happen:
Deutsche Boerse's NYSE deal seen heading for the rocks
Seems the EC finally does something right
UK, Hong Kong team up to boost London as yuan centre
http://uk.reuters.com/article/2012/01/15/uk-britain-yuan-idUKTRE80E0RI20120115
The UK welcomes more and more financial transactions to it's shores.
Lets hope the socialists never take control of the UK like they have in europe.
Red Ed Milliband is unelectable, Gordon brown was also unelectable.. the English electorate have a good record, at least in my life time, of rejecting high tax socialist politicians.
http://uk.reuters.com/article/2012/01/15/uk-britain-yuan-idUKTRE80E0RI20120115
The UK welcomes more and more financial transactions to it's shores.
Lets hope the socialists never take control of the UK like they have in europe.
Red Ed Milliband is unelectable, Gordon brown was also unelectable.. the English electorate have a good record, at least in my life time, of rejecting high tax socialist politicians.
One of the best independent articles on FTT I've read so far. Extensive, well-argued, unbiased article, and much worth to read.
Fortunately it's in German, because especially all those stubborn German FTT proponents really should read this.
www.faz.net/aktuell/wirtschaft/finanztransaktionssteuer-die-robin-hood-steuer-11606838.html ('Frankfurter Allgemeine', a well known German newspaper)
Google translation of the last part:
Fortunately it's in German, because especially all those stubborn German FTT proponents really should read this.
www.faz.net/aktuell/wirtschaft/finanztransaktionssteuer-die-robin-hood-steuer-11606838.html ('Frankfurter Allgemeine', a well known German newspaper)
Google translation of the last part: