Personally, I don't think that increasing taxes on the wealthy will solve anything either, nor do I want to agree to it in principle. That would only discourage investment, plus the US would still have an incompetent government, so it won't really change the outcome. So you are right, we do understand that similar problems exist with respect to huge corporations destroying small business, but that is a function of government intrusion into the market more than anything else.
I'm not very familiar with the Tobin tax, but from the sounds of it, the tax would only impact transactions in the Forex market, which would make it more difficult to trade currencies. I'm not so sure I would like that idea, especially as it's difficult enough to hedge against adverse moves in the Dollar and Euro.
I think the best way to combat high frequency trading is to simply consider it insider trading, which they won't do for various reasons. The argument behind the algos running the market is that it also provides short-term liquidity, which is needed to maintain asset prices in case of a system collapse, much like in May of 2010. Of course that's all bullshit, but the SEC won't crack down on it since they are part of the game in propping up asset values so the economy looks better than it actually is, which is the directive from the White House.
For what it's worth, I think we can agree that the central planners (central bankers) do have a conflict of interest in their role as money managers because obviously they can't help both the middle class and the White House/Wall Street clowns at the same time.
I'm not very familiar with the Tobin tax, but from the sounds of it, the tax would only impact transactions in the Forex market, which would make it more difficult to trade currencies. I'm not so sure I would like that idea, especially as it's difficult enough to hedge against adverse moves in the Dollar and Euro.
I think the best way to combat high frequency trading is to simply consider it insider trading, which they won't do for various reasons. The argument behind the algos running the market is that it also provides short-term liquidity, which is needed to maintain asset prices in case of a system collapse, much like in May of 2010. Of course that's all bullshit, but the SEC won't crack down on it since they are part of the game in propping up asset values so the economy looks better than it actually is, which is the directive from the White House.
For what it's worth, I think we can agree that the central planners (central bankers) do have a conflict of interest in their role as money managers because obviously they can't help both the middle class and the White House/Wall Street clowns at the same time.
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