Juggling Dynamite

Danielle was a guest today on Talk Digital Network with Phil Mackesy talking about recent developments in the world economy and markets. You can listen to an audio clip here.

A financial transaction tax is a step in the direction of restoring some sanity back to capital markets. We must use every reasonable means to curtail the reckless, speculative transactions that have turned public markets into an unstable, casino like Ponzi-scheme.

“Trading in Italian stocks through the desks of major banks has dropped sharply amid a wider fall in volumes since Italy introduced a tax on financial transactions.

Data from Thomson Reuters suggest that banks – which have been some of the most outspoken critics of a so-called Tobin tax – have emerged as the biggest losers since a levy on equity and derivative transactions came into force in Italy at the beginning of the month.”

See: Tax blow to Italian stock trading

A look at how the recent rally in stocks is not supported by growth expectations for the world economy. Here is a direct link.