Stock market is immoral and must be abolished
Looks like they took notes.
They bought every politician in Washington. That is a political failure, not a failure made inevitable by a particular financial instrument.
SPONKS!
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See, I don’t know that that’s directly true. I don’t think they pay politicians to pretend to believe things, I think they fund the politicians who believe the things they want politicians in power to believe. I’m not sure there’d be a sizeable cohort of politicians who think nothing bad should ever happen to financiers if there wasn’t a volatile market that frequently heralded dire outcomes for everyone around the same time bad things start happening to financiers.
Why did they throw a bunch of financiers in prison in the 30s and 80s then? The stock market existed in both those eras.
A crude sketch of the evolutionary process is detailed in the OP. You will note that it contains phrases such as ‘inevitably becomes’ rather than phrases like ‘innately entails from inception’ &c.
Crude indeed.
Holland: It almost sounds like — if I could offer an analogy — if you were trying to prosecute homicides and you had no police on the streets, no homicide detectives and no snitches, your hands would be tied, even if you were a tenacious prosecutor with some ambition.
Black : It’s actually far worse than that
Might add this to the OP.
Good idea, be sure to explain wtf it has to do with the stock market.
I think an analogy to what you are talking about is the Gibbard-Satterthwaite theorem, which holds that for elections which satisfy certain conditions, one of the possible must be true for a given voting rule: the rule is dictatorial, there are only two alternatives, or strategic voting is possible.
What this means is that close elections become more about who can game the system with tactical voting.
I don’t really care about the ins and outs of the stock market, but I suspect that any “fair” system of doing whatever the stock market does will always be susceptible to gaming the system and won’t ever be a 100% representation of the actual values of companies, just as no system of voting on a large scale will ever be a 100% representation of the sincere beliefs of the electorate.
The entire point of the Spock market is to embezzle cash through stock buybacks. There is really no other purpose.
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Right we need to pass a law where they can only do this through dividend payments.
We need to pass a law to feed them to an industrial wood chipper.
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When do you think stock markets became Spock markets? I have an exact (to the year) date in mind but am curious if you do as well.
No idea, but I imagine you’re thinking of the tulip craze?
I’m thinking of 1982.
Wow, I would have naively assumed way earlier. Why?