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... vernacular means speculators, since the common vernacular on this is infected by the habits of newspaper reporters, who write as if financial speculation was actual investment because its speculators who are most willing to pay for newspapers and magazines to find out what information the other speculators already have as they play their games of "guess first".


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Wed Apr 1st, 2009 at 12:48:32 PM EST
[ Parent ]
Now if the G-20 could only agree to a common "Tobin tax"...

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Apr 1st, 2009 at 01:02:37 PM EST
[ Parent ]
i like the idea of putting a tiny tax on every forex transaction, apparently that would raise gazillions.

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty
by melo (melometa4(at)gmail.com) on Wed Apr 1st, 2009 at 03:30:49 PM EST
[ Parent ]
It also would make un-feasable the rapid day trader type moves that arguably are the essence of speculation vs. investment.  AIRC that was a major goal of Tobin's.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Apr 2nd, 2009 at 12:52:47 AM EST
[ Parent ]
then let's do it!

who's pushing for it, and who are the principal objectors?

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Thu Apr 2nd, 2009 at 12:04:53 PM EST
[ Parent ]
No one.  The entire financial community.  So you can see that prospects are excellent.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Apr 2nd, 2009 at 04:44:51 PM EST
[ Parent ]
yup, you could even say that's why those leaders are grinning so delightedly at the g20!

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty
by melo (melometa4(at)gmail.com) on Fri Apr 3rd, 2009 at 07:45:59 AM EST
[ Parent ]

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