It never ends.
There’s yet another story of how the rich and powerful stack the deck and take advantage of their positions.
The University of Michigan conducts a monthly survey of consumers, crunches the numbers, and releases its Consumer Sentiment Index. The report often moves the markets, so getting the information in advance can give you a big leg up if you’re a big market player. Sure enough, the company that has the million dollar a year contract with the university to distribute the report will give you the information early, for a fee.
How early? Are you sitting down? Two seconds. That’s right, two seconds before everyone else. That’s because you don’t get the information, your computer does and on Wall Street these days, thanks to blazingly fast computers and complicated mathematical formulas, that’s an eternity.
The CNBC story on all of this has a stunning example of how long two seconds can be on Wall Street. At exactly 9:54:57.975 AM on May 17 trading spiked in a fund that tracks the S&P 500 stock index. By 9:54:57.985, in just 10 milliseconds, 100,000 shares in the fund had traded hands. By 9:54:58.075, in just 100 milliseconds, the price of the fund jumped from $165.90 to more than $166.06. A half second later (500 milliseconds) there had been more than $40 million in trades. Just for a little perspective, it takes you between 300 and 400 milliseconds to blink your eye.
It’s not just Wall Street. I think our whole fiscal system is broken, and rife with abuses. It was supposed to all be fixed by the Dodd-Frank fiscal reform bill, but the lobbyists for the fat-cats are doing their best (which is pretty good) to gut the bill as its language is turned into actual rules and regulations.
It’s just outrageous.
- Stretches and exercises for carpal tunnel syndrome
- The best Major League ballparks have their own personality
- Comparing the best regular seasons: The '96 Bulls and '16 Warriors
- 3 Arizona road trips and the vehicles to get you there
- Colon cancer is preventable. Check these signs and symptoms to stay healthy.
- 6 of the biggest skin cancer myths
- Affordable small home makeover ideas
- Locals helping locals: 6 success stories you need to know about
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Overlooked water tips to save you money
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon