We need a magna carta for demander rights or the rights of the individual to organically occur within the American business cycle. Something a little stronger than “the customer is always right.” Why is there still only one physical place for commodities brokers to facilitate large trades? (I’m talking about Wall Street, though I suppose there’s the Chicago Exchange but we never hear about that group trending in the news.)
For that matter who really sets prices? The Federal Reserve banking system has twelve branches in major cities through out the USA. Lately, the NYSE/S&P500 market has been doing almost nothing but going up like 250 points or down say 150 points every day. It’s frequently been greater than 100 points margin of difference every day for days now. Isn’t Wall Street itself getting too small both in terms of the liquidity of trades and the virtual manner in which they’re traded?
I know the system cannot be reinvented but all this talk of taxing capital gains is meaningless because only 15-21% of the population presently has realistic viable options if one takes into account both financial diversification and interest earned. Three out of four people are living from paycheck to paycheck and have nothing “to pay into” except their bank savings. We want to pay into more and demand better capital exchange processes!!