Tag Archives: Stock

Europe’s Tax on Financial Trades Is a Risky Bet

By Mark Buchanan

Millions of Europeans are about to become the subjects of a vast social experiment. What’s troubling is how little anyone understands about where it might lead.

A total of 11 European Union member states — including France, Germany, Italy and Spain, but not the U.K. — plan to introduce a small tax on financial transactions by the beginning of 2014. Financial institutions will pay 0.1 percent on all stock and bond trades, and 0.01 percent on derivatives. Although taxes that are at least crudely similar exist in about 40 nations around the world, the European measure will be the first introduced on such a large scale.

The idea of a financial transactions tax goes back to the economist John Maynard Keynes. In the 1930s, he argued that speculation on assets drives market instability and suggested that an appropriate levy could deter it. If small enough, the tax would have a negligible effect on long-term stock investors, who trade infrequently and focus on real economic factors in making their decisions. It would primarily deter short-term speculators who buy and sell frequently in response to temporary market movements.

The idea makes intuitive sense and could, in principle, help channel investment to productive economic activity. There’s much debate, though, over whether it can work in reality. Well- known economists such as Joseph Stiglitz and Larry Summers have supported a transactions tax. Others of equal prominence have countered that it would be likely to lower equity prices, drive trading across borders and possibly increase market volatility.

Continue reading Europe’s Tax on Financial Trades Is a Risky Bet

Spectacular bloodshed – By Nayyer Khan

In agricultural society, live stock represents wealth and hence sacrifices. In an urban society wealth is represented by money. If one contributed the equivalent of the price of a goat or a cow to charity — i.e. feeding the poor, donating to hospitals etc, it should have the same effect

Every year, on Eid-ul-Azha (3 days long annual Muslim Festival, starting in a few days, during which animals are sacrificed to please Allah), I feel as if I am living in one of the ancient civilizations ….

Read more » ViewPoint

It’s not a Recession, it’s a corporate Robbery – New spirit across the world

– Laurie Penny: Across the world, a new spirit took hold – power was taken back by the people

More than city squares are being occupied. What is being reoccupied is a sense of collective possibility

Something enormous happened on Saturday night. In over a thousand towns and cities around the world, people from all walks of life took to the streets and occupied the squares in an international “day of action” against austerity and corporate greed. In Madrid, I watched 60,000 stamp and cheer in Puerta del Sol as protesters took over a nearby building and dropped a banner reading “Somos El 99%” (“we are the 99 per cent”), a slogan from the Occupy Wall Street movement which has become a mantra for new global resistance.

As thousands streamed into the main square of the Spanish capital, a projector was showing hundreds facing down police to camp outside the London Stock Exchange. Protest, like profit, has become globalised.

The fact that politicians and pundits are asking what all these people want can be considered a victory for the “occupy everywhere” movement. It’s not a question many in public life have seemed much concerned with in the past decade.

What commentators fail to understand is that occupation is itself a demand. It’s a new, practical politics for those disillusioned with representative democracy, which demonstrators claim is a private club run by the rich, for the rich.

The recolonisation of public space, the forming of alternative communities based on direct democracy where people can meet and realise a common struggle, is an act of defiance with its own solution to the alienation and frustrations of life under capitalism. Those who attend occupations with individual grievances stay because they want to belong to a community built on mutual aid and shared values.

As political ambitions go, “occupy everywhere” is hardly modest. It is fitting that the most notable showdown of Saturday night took place in New York’s Times Square, where thousands of peaceful protesters clashed with mounted police under the glow of giant electric billboards in this temple to corporate power.

What is being occupied is far more than a few public squares for a few weeks. What’s being reoccupied is the collective political imagination, and a sense of collective possibility – beyond nationalism, beyond left and right – as millions of people lose faith in mainstream politics.

Power is not being petitioned here – it’s being reinvented. That’s what makes “occupy everywhere” so fascinating and also so exciting.

Courtesy » independent.co.uk

Meat of Dog & Donkey is being sold in Faisalabad, 2 arrested

Dog & Donkey’s Meat Sellers Arrested in Faisalabad

Health department arrested two butchers who were selling the meat of Donkey in Faisalabad.
DCO Naseem Sadiq launched a campaign against unhygienic meat in district due to gastric diseases in Chat 35-RB last week. Doctors told the diseases are increasing due to the sale of donkey and dog meat in district.
15 butchers were arrested in a raids of Health Depart who were selling unhygienic meat or water-fed meat. Two of them are behind the bars who admitted selling donkey meat. They were selling the meat much cheaper then the market rates.
More than 30 people admitted in different hospitals of area for vomiting and gastric symptoms after eating the meat. Lab attendant Mubashar told that people suffered because they were not used to such meat and when the samples of meat tested in lab, results came as the meat of dog or donkeys.
Two suppliers arrested who were supplying the meat of dog and donkey to meat sellers. Raid officers took more than 100 kilograms meat in the custody and destroyed the entire stock.
Livestock district officer Dr. Abdur Rehman told that the patients in Allied hospitals pointed two butchers who had been selling the donkey meat. When we started asking from patients we realized that most of the patients bought the meat from the two meat sellers. Upon investigation it was discovered that they were selling dog and donkey meat.

Courtesy: via → SIASAT.COM : → PakistaniScandals

STOCK MARKET

Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for Rs. 10/-. The villagers seeing that there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at Rs. 10/- and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at Rs. 20/- This renewed the efforts of the villagers and they started catching monkeys again.

Soon the supply diminished even further and people started going back to their farms. The offer rate increased to Rs. 25/- and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!

The man now announced that he would buy monkeys at Rs50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.

In the absence of the man, the assistant first kept buying the monkeys and then on one day he told the villagers,’ Look at all these monkeys in the big cage that the man has collected. I will sell them to you at Rs35 and when the man returns from the city, you can sell it to him for Rs. 50/- ‘

The villagers squeezed up with all their savings and bought all the monkeys.

Then they never saw the man nor his assistant, only monkeys everywhere!!!

Welcome to the ‘Stock’ Market!!!!!

via – Dileep Ratnani