Lost your pension in the stock market?

[Turbineguy]

Look no further:

http://www.bloomberg.com/news/2011-08-11/high-frequency-firms-tripled-trading-as-s-p-500-plunged-13-wedbush-says.html

There. That should cheer you up. Your real work benefited those who do nothing whatsoever for society.

From a post I made yesterday:

Wall Street does not match investors with money to people who want to use that money to build economically beneficial entities. That used to be their job. Now they invent instruments that generate profits and commissions but divert money to non-investments thereby harming the overall economy.

Because these instruments are leveraged, their harm is multiplied.

If you want to invest for economic growth you have to by-pass Wall Street. The stock market as we know it has nearly outlived it's usefulness.

The swings of the past few days have shown this especially clearly. High Frequency Trading algorithms that use rates of change in prices have injected increased instability. This is trading. Not investing.

Wall Street is a parasite on society. It is the major reason for the decline of the middle class. Of course republican politicians protect them, because they pay well.

[PassingFair]

1. "Of course republican politicians protect them..."

The Democrats protect them as well.

I agree with everything else you wrote.

[proudlib8134]

10. +1

[Scuba]

2. Yet the GOP says they're over-regulated. n/t

[golfguru]

3. Can you explain something to me?

I keep reading that US Corporate taxes are some of the highest in the G-20 countries. So why would it make sense for US corporations to not take advantage of lower taxes in those countries and set up shop there instead of here?

[Turbineguy]

4. There must be an advantage.

The taxes are in reality lower in the US due to deductions, or exemptions and/or perhaps the legal protections in the US are greater. But a number of US firms are headquartered in Switzerland.

[A HERETIC I AM]

5. Out of curiosity....

Which "US firms are headquartered in Switzerland."

Because if they're headquartered in Switzerland, they aren't US firms.

[Turbineguy]

6. Those

lighthearted chaps who used to own the Deepwater Horizon for one.

[A HERETIC I AM]

7. OK...so that's one.

Which others are you referring to?

[Turbineguy]

8. I'm not sure I'm supposed to tell

since Obama is being blamed for this by the right wing. Of course US companies have being moving offshore for years. But those who move during republican presidencies don't count apparently.

600 US firms have moved to Ireland. 1200 to Switzerland. There's plenty of info on the internet.

http://www.topix.com/forum/city/new-roads-la/TT9JJGMF493D95ND6

Noble, Weatherford, Foster-Wheeler. Ingersol Rand.

[A HERETIC I AM]

9. Okie Doke. Fair enough. n/t