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HONG KONG (Bloomberg): Hong Kong unveiled its first stamp-duty increase on stock trades since 1993, sparking a broad selloff in the US$7.6 trillion market. ....
Nobody knows the answer. we re all looking at the markets, all have an opinion and be right or wrong at any given time. the bottom line is, you have an accommodative fed, low inflation. for the stock market, it doesn t get a lot better than this. neil: kimberly, i went back and look at press clippings of prior times like in the 30s. the rap against wall street was for a few that benefitted from it in an environment that produced 133 on the dow. we have similar arguments today. in the past couple days, the two days of the democratic debates, that it s tilted to the rich. wall street is their lay ground, not main street. many of them want to raise taxes. talk of elizabeth warren and others to start a trading tax, a wealth tax. bernie sanders wants to do the same to provide college for all. ....
And it s an organization that has corrupt dictators, corrupt countries and make up a decent part of its membership and it d be even, to paraphrase jonas, it d be worse than sending it to the totally and corrupt u.n. brenda: and we don t have to paraphrase, jonas, we can go right to him. what do you say? i actually think some of these ideas are going to become policy. maybe not from the u.n., but there will be a trading tax of some sort to pay for the world s ills through many large exchange. a tobin tax. and it s not a bad thing necessarily. if it replaces income. i think an income tax is worse, to get rid of the encome tax, that s probably not what will happen, additional tax and probably, i will say just tax the financial people for the world s ills doesn t make sense, some proposals to fix the global warming problem. ....