Richard Murphy
Why do we waste so much money on the financial services sector when they deal almost excessively very in failed commodities? https://www.taxresearch.org.uk/Blog/2023/08/11/why-do-we-waste-so-much-money-on-the-financial-services-sector-when-they-deal-almost-excessively-very-in-failed-commodities/. Almost all shares are duds. So why do we bother buying them?
The stock market is failing according to the CBI. So why don’t we just let it go?

I posted this on Twitter this morning: https://twitter.com/RichardJMurphy/status/1942861045426516103 My point is serious. The CBI is saying that the situation with regard to the UK stock exchange is getting desperate, because it is losing out to overseas markets and not attracting sufficient business. The question that needs to be asked is, why is that?...

Funding the Future
Aug 11, 2023 at 8:08amWeb
Show threadLaura Sykes #GreeneraliaAug 11, 2023
@RichardJMurphy
Yes, but...?
Anyone who has been invested in the last 5-10 years in UK in denationalised utilities (water companies), oil and electricity suppliers will have made a fortune?
Show threadWillTootMaybeAug 14, 2023

@greeneralia @RichardJMurphy

From the article:

"The only companies that break the noted trend enjoy actual or quasi monopoly power."

Show threadBaron Woke of CarlsbergAug 11, 2023

@RichardJMurphy great article, very well explained. But the replies probably tell you more about the state of the world than the well reasoned article ever could.

The stock market is gambling. Nothing more, nothing less. The only difference is, they're literally gambling with people's lives.

It is entirely fabricated. None of it exists in any real sense. Nobody is creating anything that would improve anybody's lives. It is just a wealth creating mechanism for the already wealthy.

SHUT IT DOWN

Show threadTerry MilesAug 14, 2023
@RichardJMurphy It’s just a betting shop. The financial “experts” are just tipsters.