Monday, September 17, 2018

High Frequency Trading is a Tax!

Bet you didn't know that! An American lefty on radio 4's The New Capitalsm informed us of this in a 15 minute programme attacking HFT on the grounds it is unfair to the guys in the slow lane who do not have access to the hi tech. The race is to the swift! If we are only allowed to compete on a level playing field welcome to North Korea!

The only competition must be done with old technology? Really? What primitivism and yahooery. Let's see how many sticks we can find to beat 'capitalism' shall we? And note the inverted commas as the premise of the prog is wholly false. We have no capitalism we have a Mixed Economy. If you start from a false premise it is only going downhill fast. And so it proved.

Lefties have never come across a tax they did not love and the only fault they would find would be that the tax was not high enough. Should they not therefor welcome a tax if such it is on trading? Er no, silly me. Yet we know it is not a tax -the lefty probably knows it too but some people will buy it so why not try it on. In leftist politics the first casualty is always the truth.A little bit of Orwellian doublespeak will make the socialist medicine go down.

Is it fair Mo Farah can run faster than his fellow runners? Hell no. In fact when he beats them - that's a tax! He has scooped the prize money by being faster! Perhaps he should have some weights attached to his legs to even things out a bit? I am sure John Mcdonnel will provide them.

The bbc imposes a tax on everyone who wishes to watch tv. Perhaps it should start cleaning out its Augean stables rather than fixating on the little slithers of remaining capitalism that have not yet fallen under the statist sledgehammer.

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