No, what I am saying is people that make their living by trading derivatives, futures options, churning stock trades, etc. are non-producers that have figured out a way to make loads of money on the sweat of others. Remember the guy about ten years ago that bought oil futures at $100 a barrel just to be the first person to do it? That guy is exhibit A in my argument.
33 Uncomfortable Questions for Progressives
Discussion in 'News & Current Events' started by Revmitchell, Sep 27, 2013.
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InTheLight Well-Known MemberSite Supporter
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If investment and stock trading cease, if the derivatives and futures markets close, there is no money that generates the work that becomes "the sweat of others." Failing to see that is exceptionally myopic, and the equivalent of biting the hand that feeds you. Let those activities "go away" and see what it costs you to borrow money, if you can borrow it at all. See how fast your business dries up and fails because no one is generating the investment funds that drive the economy. Without investment, trading, speculation, there is no economy, plain and simple. Even in the infancy of this nation's expansion, the general stores and the feed and seed suppliers west of the Mississippi depended heavily on investment in the products produced out west by people with money back east who apparently had no part of that production. The reality was, the production was the direct result of the investment, and that hasn't changed today.
To claim that investors, traders, speculators, etc., produce "nothing" is to expose extreme naivete about how this economy works. -
church mouse guy Well-Known MemberSite Supporter
Unfortunately, we haven't seen progressives/liberals even attempt to answer the questions put to them.
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Revmitchell Well-Known MemberSite Supporter
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InTheLight Well-Known MemberSite Supporter
Futures options have been around for about 40 years.
I wonder how J. P. Morgan, Merrill Lynch, etc. made their money prior to the 1970's in order to underwrite IPOs?
Notice I'm not dissing all investors or traders here, just these types. I'm well aware that they are necessary to a functioning economy. -
Why is there a department of education, which according to conservative ideals should be local decisions?
Established in 1979, Reagan could have nipped it in the bud almost immediately, yet it continues.
Both parties are guilty of funding their pet projects, creating layers of bureaucracy and mismanagement. -
Revmitchell Well-Known MemberSite Supporter
The establishment GOP needs to come to an end. Boehner and McCain being a prime example. -
church mouse guy Well-Known MemberSite Supporter
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To follow through, there has been plenty of opportunity, when supposed conservatives controlled house, senate and presidency yet it continues. It is the president who creates these positions, senate who confirms and funds. But that is a side issue to my larger point
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