What happened is that the original trade dropped P&G enough to tip a few of these algorithmic trading programs
I disagree. I was in the currency markets today and it was clear that there was a problem LONG before 2:50pm EST. China bought billions of dollars worth of Japanese yen well before the market opened. The Japanese yen began falling vs. the dollar (ie strong yen, weak dollar) all morning as European banks followed suit, dumping USD and euros in favor of Japanese Yen. At this point the dow was only down 150 points or so - this is no big deal usually. Then suddenly the Euro dropped, the pound dropped, and the Japanese yen gained strength, almost in panic fashion (I am talking a drop of 5% inside 10 minutes). This caused a panic in equities, the US stock market being the only one open at the time. I imagine banks and mutual funds dumped their holdings all at once.
P&G is only a side issue. Gold spiked long before 2pm. The Euro and pound plummeted long before 2pm. Heck, even the Brazilian "Real" fell sharply against the yen way way before the US market dropped. This was a global phenomenon. Don't listen to ignorant reporters trying to sell you the story of a trillion dollar "fat finger". This is real money moving from the US dollar, the British pound, and the Euro, into the Japanese yen, thus increasing the strength of that currency.
Of course, when you have US government policy that says you can print all the money you need, and Europe following suit, well, what do you expect? This was an attack on the US dollar, and nothing less.
I mean really? What do these traders produce? Nothing. But they earn money, quite big money solely on speculation. What is the purpose of this at all?
Liquidity.
You obviously have no idea what a stock market is. The buyers want to buy, and the sellers want to sell. The trader makes it easier for them. Forget stocks, look at something possibly easier for you to understand: you want to buy a house. You have money. But no one is willing to sell you a house. So what happens? You don't get a house. Conversely, you need to sell your house, but no one wants to buy one. So you have to wait 10 years. Get it?
Traders are middlemen, but they facilitate transactions. When they are right, and correctly estimate the direction of the market, they make a profit (call it a commission). When they're wrong, they make a loss. Traders aren't costing anyone anything - the buyer WANTED to buy and the seller WANTED to sell. No one is being forced.
You say that traders make "quite big money" on speculation. Yes. They also LOSE a lot of money on speculation. Today I lost $9,000. Are you happy now that you have a day job? Even if you work at McDonald's, you earned more than me - today. I'm not bothered, because eventually I will make that money back. However there is RISK involved. If you don't take risk, well, what do you expect? Minimum wage. If you take risk, you can make money. However you can and WILL lose money often.
But please don't go thinking that traders are the cause of all problems - they're not. It's banks that borrow money at 0% from the government and lend it out to you at 15%+ that are the problem. Enslaving people through debt is not something capitalism should be proud of. However corporations need to sell shares to raise the billions they need to make the products/services that benefit you and I. The only place they will get that money is from traders.
Unfortunately, when it comes to shitty digital media laws, we don't own our video games. We own licenses to play them.:(
Not tested in court. I don't agree with the EULA's, and I say so at the time I open the packages. I try modifying the terms and conditions, but the program doesn't let me, so I really have no choice to voice my opinion. Since no one gives refunds on opened software packages nowadays, either, I am being forced into accepting an agreement which I didn't agree to. However it is clearly posted in my bedroom that I am not licensing the software but rather own a copy of it like I would own a book, and that agree to use it personally and not copy it/distribute it/profit from it. I also have it written down that by not coming to my house and telling me otherwise, the software companies in question are agreeing to my modification of the terms.
A contract is something agreed to by BOTH parties.
15 billion dollars cannot move the markets that way, even if it was an accident. That's like trying to blame 2008 on the fraudster at "Societée Generale". It wasn't just the US stock market, it was all the currency markets too. This is trillions of dollars we're talking about, moving away from the Euro and the US dollar and into Asian currencies. The trouble in Greece and the uncertainty about the UK elections were the excuse. The Chinese made a major move into the Japanese Yen yesterday, strengthening it. Today european bankers followed suit. As a result the Yen gained nearly 10% against the dollar, with Cable (GBP.USD) and Fiber (EUR.USD) dropping quite a bit too. This panicked the equities markets.
You've never test driven a car I take it? You've never heard a song on the radio, then bough the CD? Rather you always go to the record store and by CD's of artists you have never heard before? You always pick your doctor at random out of the phone book and never ask family/friends for a recommendation?
Let me put it to you another way: Why do software companies think that they can fork out buggy, shoddy games and expect their customers to fork over $40-50 without the possibility of complaining (or even reselling the game)?
I admit that I have "pirated". The games that I like, I later bought. However there are a hell of a lot more games that have been deleted from my hard drive, and here I consider that I have saved myself from being ripped off. For example, I OWN a copy of Silent Hunter III. I OWN a copy of Silent Hunter IV which, IMO, was not as good as Silent Hunter III. So I downloaded a copy of Silent Hunter V. After 10 minutes, I wiped it from my hard drive and thank goodness I didn't pay for that piece of crap. Had it been a good game, I would have bought it. Just like I bought every other game I like.
OK, so you're fine with the federal government listening in to any conversation you have with your friends? That's a "community". But hey, you know, it could be justified, because your friends and you could be a terrorist sleeper cell. And when you go to the game, the park or the bar, perhaps you're conspiring to bring down the government. Or maybe conspiring to lend him a DVD and break intellectual property laws. So it's a good idea to automatically eavesdrop on any conversation. What's more in the digital age, with computer voice recognition and word recognition, all of your conversations can be automatically screened for key words.
And BY THE WAY, any other thought crime you might commit (like speaking against the government, admitting minor laws you broke, threatening someone, etc) WILL be enforced because after all it's a hell of a lot easier to go after YOU and make an example of YOU, than say some illegal immigrant running a drug smuggling operation who is loaded with guns and has nothing to lose.
We're not there YET, but suddenly the above scenario doesn't seem so far away, and so far fetched. America of today is NOT the America I grew up in. In fact with aggressive police, ridiculous punishments for ridiculous offenses (drawing on school desks, making "finger guns", posting "mooninites" on highway overpasses), and covert surveillance everywhere, it looks a lot like what we used to say Soviet Russia was like. Make sure to get your permit from the municipality before you paint your house comrade. We must ensure you use an approved color.
because it's made of water, poses no harm to people
Yeah. Forget about the clay and OTHER ORGANIC MOLECULES, it's got water so it has to be safe, right? People can be allergic to iron or zinc, let alone complex molecules.
Sea water is made of "water" too. Try injecting some in your veins.
Isn't parallelism a sign of Moore's law tapering off?
Is it? I don't remember the size of the die being mentioned. Are you going to argue that in theory we should all go back to 8 bit machines, too, since increasing the bus size is, after all, "cheating" too.
It is tapering off. Any smaller and quantum mechanics come in to play
So obviously this whole concept of parallel computing and multi-core processors has just whizzed right past you, huh? Especially when Intel and AMD are planning for 128 and 256 core CPU's for HOME use, and current supercomputers use tens of thousands (or more) of CPU's, thus busting the "we can't get smaller" myth. Yeah ok maybe you can't fit more transistors on a 5mm x 5mm chip, but you can fit a LOT of chips in a mini tower case...
"Buena Vista" is a registered trademark of the Walt Disney Company. A lot of their movies are released under the "Buena Vista" label. Try naming your hotel "McDonald's Suites" and see how long it takes to hear from the clown's lawyers. Buena Vista Suites are most likely held by a subsidiary of Disney. It's not surprising that the company has two (2) hotels, conveniently located near Disney World and Disney Land. However since you apparently are a paragon of literacy and understanding, you already knew this.
Stolen? It was left in a bar. DO YOU FUCKING AMERICANS NEED LAWS TO PROTECT YOU FROM LEAVING YOUR SHIT LYING AROUND? Hello? Common sense! You look after your stuff or you lose it. God you guys are dumb. I wouldn't care, but then you try to shove your laws down everyone else's throats via treaties. Heh, come to think of it, I hope Apple manages to take away a little more freedom from you douche-bags. Enjoy your "free" country.
I have no doubts that several "new" weapons are being worked on by militaries around the world. I am also positive I will not read about them before they're almost obsolete. The description you are reading is probably a work of fantasy and misdirection.
And I'm talking about justification. Whether the rumor was true or not, there is no justification in vandalizing their house. It's not the lie per se that caused "damage" but some idiot who used it as an excuse to break the law. If we start censoring the truth because of people's (bad) behavior, we might as well give up on speech altogether, because there will ALWAYS be a fringe element that resorts to violent anti-social behavior.
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What happened is that the original trade dropped P&G enough to tip a few of these algorithmic trading programs
I disagree. I was in the currency markets today and it was clear that there was a problem LONG before 2:50pm EST. China bought billions of dollars worth of Japanese yen well before the market opened. The Japanese yen began falling vs. the dollar (ie strong yen, weak dollar) all morning as European banks followed suit, dumping USD and euros in favor of Japanese Yen. At this point the dow was only down 150 points or so - this is no big deal usually. Then suddenly the Euro dropped, the pound dropped, and the Japanese yen gained strength, almost in panic fashion (I am talking a drop of 5% inside 10 minutes). This caused a panic in equities, the US stock market being the only one open at the time. I imagine banks and mutual funds dumped their holdings all at once.
P&G is only a side issue. Gold spiked long before 2pm. The Euro and pound plummeted long before 2pm. Heck, even the Brazilian "Real" fell sharply against the yen way way before the US market dropped. This was a global phenomenon. Don't listen to ignorant reporters trying to sell you the story of a trillion dollar "fat finger". This is real money moving from the US dollar, the British pound, and the Euro, into the Japanese yen, thus increasing the strength of that currency.
Of course, when you have US government policy that says you can print all the money you need, and Europe following suit, well, what do you expect? This was an attack on the US dollar, and nothing less.
I mean really? What do these traders produce? Nothing. But they earn money, quite big money solely on speculation. What is the purpose of this at all?
Liquidity.
You obviously have no idea what a stock market is. The buyers want to buy, and the sellers want to sell. The trader makes it easier for them. Forget stocks, look at something possibly easier for you to understand: you want to buy a house. You have money. But no one is willing to sell you a house. So what happens? You don't get a house. Conversely, you need to sell your house, but no one wants to buy one. So you have to wait 10 years. Get it?
Traders are middlemen, but they facilitate transactions. When they are right, and correctly estimate the direction of the market, they make a profit (call it a commission). When they're wrong, they make a loss. Traders aren't costing anyone anything - the buyer WANTED to buy and the seller WANTED to sell. No one is being forced.
You say that traders make "quite big money" on speculation. Yes. They also LOSE a lot of money on speculation. Today I lost $9,000. Are you happy now that you have a day job? Even if you work at McDonald's, you earned more than me - today. I'm not bothered, because eventually I will make that money back. However there is RISK involved. If you don't take risk, well, what do you expect? Minimum wage. If you take risk, you can make money. However you can and WILL lose money often.
But please don't go thinking that traders are the cause of all problems - they're not. It's banks that borrow money at 0% from the government and lend it out to you at 15%+ that are the problem. Enslaving people through debt is not something capitalism should be proud of. However corporations need to sell shares to raise the billions they need to make the products/services that benefit you and I. The only place they will get that money is from traders.
PS: The uptick rule didn't stop 1987. Why do you have such great faith that the uptick rule would prevent this?
PPS: Please don't blame short sellers, either. Short selling is not allowed in Asian markets, and yet they manage spectacular crashes once in a while.
The circuit breaker is not in effect after 2:30pm EST. Guess at what time this happened....
Unfortunately, when it comes to shitty digital media laws, we don't own our video games. We own licenses to play them. :(
Not tested in court. I don't agree with the EULA's, and I say so at the time I open the packages. I try modifying the terms and conditions, but the program doesn't let me, so I really have no choice to voice my opinion. Since no one gives refunds on opened software packages nowadays, either, I am being forced into accepting an agreement which I didn't agree to. However it is clearly posted in my bedroom that I am not licensing the software but rather own a copy of it like I would own a book, and that agree to use it personally and not copy it/distribute it/profit from it. I also have it written down that by not coming to my house and telling me otherwise, the software companies in question are agreeing to my modification of the terms.
A contract is something agreed to by BOTH parties.
15 billion dollars cannot move the markets that way, even if it was an accident. That's like trying to blame 2008 on the fraudster at "Societée Generale". It wasn't just the US stock market, it was all the currency markets too. This is trillions of dollars we're talking about, moving away from the Euro and the US dollar and into Asian currencies. The trouble in Greece and the uncertainty about the UK elections were the excuse. The Chinese made a major move into the Japanese Yen yesterday, strengthening it. Today european bankers followed suit. As a result the Yen gained nearly 10% against the dollar, with Cable (GBP.USD) and Fiber (EUR.USD) dropping quite a bit too. This panicked the equities markets.
to take something
You've never test driven a car I take it? You've never heard a song on the radio, then bough the CD? Rather you always go to the record store and by CD's of artists you have never heard before? You always pick your doctor at random out of the phone book and never ask family/friends for a recommendation?
Let me put it to you another way: Why do software companies think that they can fork out buggy, shoddy games and expect their customers to fork over $40-50 without the possibility of complaining (or even reselling the game)?
I admit that I have "pirated". The games that I like, I later bought. However there are a hell of a lot more games that have been deleted from my hard drive, and here I consider that I have saved myself from being ripped off. For example, I OWN a copy of Silent Hunter III. I OWN a copy of Silent Hunter IV which, IMO, was not as good as Silent Hunter III. So I downloaded a copy of Silent Hunter V. After 10 minutes, I wiped it from my hard drive and thank goodness I didn't pay for that piece of crap. Had it been a good game, I would have bought it. Just like I bought every other game I like.
Still infringing IP, though.
So is singing the "Happy Birthday" song, but everyone does it.
You fail at your argument because you are using false dichotomy, slippery slope, appeal to emotion, and appeal to fear. It is just one big fallacy.
I have lived a lifetime. You have not. I remember what America WAS. You do not. You think the slippery slope isn't real? Ok, wait.
OK, so you're fine with the federal government listening in to any conversation you have with your friends? That's a "community". But hey, you know, it could be justified, because your friends and you could be a terrorist sleeper cell. And when you go to the game, the park or the bar, perhaps you're conspiring to bring down the government. Or maybe conspiring to lend him a DVD and break intellectual property laws. So it's a good idea to automatically eavesdrop on any conversation. What's more in the digital age, with computer voice recognition and word recognition, all of your conversations can be automatically screened for key words.
And BY THE WAY, any other thought crime you might commit (like speaking against the government, admitting minor laws you broke, threatening someone, etc) WILL be enforced because after all it's a hell of a lot easier to go after YOU and make an example of YOU, than say some illegal immigrant running a drug smuggling operation who is loaded with guns and has nothing to lose.
We're not there YET, but suddenly the above scenario doesn't seem so far away, and so far fetched. America of today is NOT the America I grew up in. In fact with aggressive police, ridiculous punishments for ridiculous offenses (drawing on school desks, making "finger guns", posting "mooninites" on highway overpasses), and covert surveillance everywhere, it looks a lot like what we used to say Soviet Russia was like. Make sure to get your permit from the municipality before you paint your house comrade. We must ensure you use an approved color.
because it's made of water, poses no harm to people
Yeah. Forget about the clay and OTHER ORGANIC MOLECULES, it's got water so it has to be safe, right? People can be allergic to iron or zinc, let alone complex molecules.
Sea water is made of "water" too. Try injecting some in your veins.
It's going to make cooling a bitch.
Isn't parallelism a sign of Moore's law tapering off?
Is it? I don't remember the size of the die being mentioned. Are you going to argue that in theory we should all go back to 8 bit machines, too, since increasing the bus size is, after all, "cheating" too.
Except more chips doesn't mean more performance.
Yeah ok, tell that to these guys with only 224,256 cores.
It is tapering off. Any smaller and quantum mechanics come in to play
So obviously this whole concept of parallel computing and multi-core processors has just whizzed right past you, huh? Especially when Intel and AMD are planning for 128 and 256 core CPU's for HOME use, and current supercomputers use tens of thousands (or more) of CPU's, thus busting the "we can't get smaller" myth. Yeah ok maybe you can't fit more transistors on a 5mm x 5mm chip, but you can fit a LOT of chips in a mini tower case...
Step 1 is embrace. Look for extend real soon.
Disney != Buena Vista Suites.
"Buena Vista" is a registered trademark of the Walt Disney Company. A lot of their movies are released under the "Buena Vista" label. Try naming your hotel "McDonald's Suites" and see how long it takes to hear from the clown's lawyers. Buena Vista Suites are most likely held by a subsidiary of Disney. It's not surprising that the company has two (2) hotels, conveniently located near Disney World and Disney Land. However since you apparently are a paragon of literacy and understanding, you already knew this.
Tilapia nilotica will probably be the first interplanetary fish.
Funny, my broker removed it this afternoon at around 6pm EST
HP BOUGHT Palm. Shares of PALM are no longer traded on the NASDAQ as of market close today. If you were short, you owe a lot of money...
knowingly purchasing stolen goods.
Stolen? It was left in a bar. DO YOU FUCKING AMERICANS NEED LAWS TO PROTECT YOU FROM LEAVING YOUR SHIT LYING AROUND? Hello? Common sense! You look after your stuff or you lose it. God you guys are dumb. I wouldn't care, but then you try to shove your laws down everyone else's throats via treaties. Heh, come to think of it, I hope Apple manages to take away a little more freedom from you douche-bags. Enjoy your "free" country.
Is this even possible?
Is it even true...
I have no doubts that several "new" weapons are being worked on by militaries around the world. I am also positive I will not read about them before they're almost obsolete. The description you are reading is probably a work of fantasy and misdirection.
And I'm talking about justification. Whether the rumor was true or not, there is no justification in vandalizing their house. It's not the lie per se that caused "damage" but some idiot who used it as an excuse to break the law. If we start censoring the truth because of people's (bad) behavior, we might as well give up on speech altogether, because there will ALWAYS be a fringe element that resorts to violent anti-social behavior.
But you are all too stupid to realize this.
No, it's more like the excuse "she deserved to be raped for wearing that short skirt".
A lie can cause serious damage to someone. Some neighbours of mine had their home vandalised because they had been falsely accused
So the lie jumped out and vandalized their house, did it?