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[Banjax]

the Stock Exchange was formed to raise capital for business and provide liquidity for investors

nowadays you can use it to bet on derivitives, options, traded options, you can bet on any move in the market, even the volatility of the market.

in effect from its useful and effective beginnings based on sound financial principles as an aid to business its become an enormous bookmakers and its usefulness now, i would argue is negligible outside of a few high rollers who rig the game in their favour, as has been seen in the Goldman Sachs investigation, where does the smart money go now now that the trust is gone? i doubt the market will continue to grow as it has every decade since its inception. 

fascinating to see what happens next - is this the end of capitilism? a new dawn of socially responsible markets? or just the same old story that ordinary taxpayers pick up the tab for the super riches largesse? and if its latter, what happens in the next inevitable bust? is there an exchequer that would dare bail out banks again in the next 10 years? or let the chips fall where they may? we're heading into a fascinating decade whatever happens 

[Dishevelled Den]

The writings already on the wall as far as I'm concerned now that gambling is allowed on national television and moneylenders are permitted to advertise their services by the same means.

[Lizzie_Zoom]

I feel like adding some of my posts on the nationalisation / privatisation thread on this one!

But, no matter what people think about that topic, in answer to your very interesting appraisal, I personally reckon all the time there is mankind, the desire to make profit will drive capitalism forward.  Even the Chinese, after the Russians, have joined this club as until a better system is discovered then capitalism will rule. 

Dodgy things have always happened in 'the City', and I only have to think of the railway magnet George Hudson who committed fraud in his investments within the Midland Railway during the railway mania of the 1840s, and was disgraced by the bubble bursting in 1845.  He actually remained a Conservative MP until 1859.  Before that there had been the South Sea Bubble that had burst for investors around 1720 with many ruined.  These scandals, amongst many, have rocked 'the City' for a long time, and I just do not foresee a collapse of confidence in it any time soon over a few bad banking decisions.

Capitalism lives! 8-) 8-) 8-)

[Dishevelled Den]

I feel like adding some of my posts on the nationalisation / privatisation thread on this one!

But, no matter what people think about that topic, in answer to your very interesting appraisal, I personally reckon all the time there is mankind, the desire to make profit will drive capitalism forward.  Even the Chinese, after the Russians, have joined this club as until a better system is discovered then capitalism will rule. 

Dodgy things have always happened in 'the City', and I only have to think of the railway magnet George Hudson who committed fraud in his investments within the Midland Railway during the railway mania of the 1840s, and was disgraced by the bubble bursting in 1845.  He actually remained a Conservative MP until 1859.  Before that there had been the South Sea Bubble that had burst for investors around 1721 with many ruined.  These scandals, amongst many, have rocked 'the City' for a long time, and I just do not foresee a collapse of confidence in it any time soon over a few bad banking decisions.

Capitalism lives! 8-) 8-) 8-)

Yes many of those comments would indeed be appropriate here as well Lizzie.

It's a difficult question to put a balanced answer to as I see merit in each - if properly and honestly administered.

I suppose I'm a wary supporter of the capitalist system who thinks the inherent fairness of an honest socialist system would be nice to see in fact.

[albitz]

Banjax - you have demonstrated very abley your deep understanding of the financial sector with this objective and unbiased appraissal of the current situation. I take my hat off to you.

[Banjax]

Banjax - you have demonstrated very abley your deep understanding of the financial sector with this objective and unbiased appraissal of the current situation. I take my hat off to you.

i thought it was perfectly balanced? genuinely the market forces will allow little or no growth in the coming decade - we have to think differently

[Banjax]

I feel like adding some of my posts on the nationalisation / privatisation thread on this one!

But, no matter what people think about that topic, in answer to your very interesting appraisal, I personally reckon all the time there is mankind, the desire to make profit will drive capitalism forward.  Even the Chinese, after the Russians, have joined this club as until a better system is discovered then capitalism will rule. 

Dodgy things have always happened in 'the City', and I only have to think of the railway magnet George Hudson who committed fraud in his investments within the Midland Railway during the railway mania of the 1840s, and was disgraced by the bubble bursting in 1845.  He actually remained a Conservative MP until 1859.  Before that there had been the South Sea Bubble that had burst for investors around 1721 with many ruined.  These scandals, amongst many, have rocked 'the City' for a long time, and I just do not foresee a collapse of confidence in it any time soon over a few bad banking decisions.

Capitalism lives! 8-) 8-) 8-)

Yes many of those comments would indeed be appropriate here as well Lizzie.

It's a difficult question to put a balanced answer to as I see merit in each - if properly and honestly administered.

I suppose I'm a wary supporter of the capitalist system who thinks the inherent fairness of an honest socialist system would be nice to see in fact.

i agree with you Liz - there isn't, currently a better system - perhaps some wiser heads can devise one? i doubt it - greed will always out in the end.


and Z - nail, head -= i'm not against capitilism, i'm a fatalist who wishes for a truly fair, socially responsible system (obviously massively taxing the rich would be a start...but then everyone would get to live in a fairer, friendlier, safer society surely if funds were directed in the right places)

anyway - i'm signing off for 2010, started early and i'm meant to be sober til the bells 

happy New Year and all the best everyone 
 

[Mysteryman]

Taxing the rich is a great idea. Unfortunately, the ruling classes are usually rich.

[Lizzie_Zoom]

I feel like adding some of my posts on the nationalisation / privatisation thread on this one!

But, no matter what people think about that topic, in answer to your very interesting appraisal, I personally reckon all the time there is mankind, the desire to make profit will drive capitalism forward.  Even the Chinese, after the Russians, have joined this club as until a better system is discovered then capitalism will rule. 

Dodgy things have always happened in 'the City', and I only have to think of the railway magnet George Hudson who committed fraud in his investments within the Midland Railway during the railway mania of the 1840s, and was disgraced by the bubble bursting in 1845.  He actually remained a Conservative MP until 1859.  Before that there had been the South Sea Bubble that had burst for investors around 1721 with many ruined.  These scandals, amongst many, have rocked 'the City' for a long time, and I just do not foresee a collapse of confidence in it any time soon over a few bad banking decisions.

Capitalism lives! 8-) 8-) 8-)

Yes many of those comments would indeed be appropriate here as well Lizzie.

It's a difficult question to put a balanced answer to as I see merit in each - if properly and honestly administered.

I suppose I'm a wary supporter of the capitalist system who thinks the inherent fairness of an honest socialist system would be nice to see in fact.

i agree with you Liz - there isn't, currently a better system - perhaps some wiser heads can devise one? i doubt it - greed will always out in the end.


and Z - nail, head -= i'm not against capitilism, i'm a fatalist who wishes for a truly fair, socially responsible system (obviously massively taxing the rich would be a start...but then everyone would get to live in a fairer, friendlier, safer society surely if funds were directed in the right places)

anyway - i'm signing off for 2010, started early and i'm meant to be sober til the bells 

happy New Year and all the best everyone 
 

And to you BJ, and a prosperous capitalist one!

[cem_devecioglu]

Taxing the rich is a great idea. Unfortunately, the ruling classes are usually rich.