Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

Kelvin Mace

(17,469 posts)
7. People like you and I generally don't care about
Wed Jul 8, 2015, 01:13 PM
Jul 2015

the exchanges being down an hour or two. The people who care are flash traders and other financial parasites who thrive on churning the market, conducting thousands of trades a second, and skimming fractions of a penny each time. Wall Street's major profit center is "volatility". But, when markets get closed globally, their little games can come unglued and major train wrecks will occur.

Imagine the guy on the stage spinning ten plates on poles. Now imagine that thanks to computers he can spin a thousand. But when the markets shut down, he can't get to the poles.

Now imagine there are 100,000 guys spinning a thousand plates each.

That is today's financial market.

Recommendations

0 members have recommended this reply (displayed in chronological order):

Latest Discussions»General Discussion»Question regarding the ma...»Reply #7