EIGHT SECONDS (the source is Radio Four’s today programme this morning).
This exposes as a lie the idea that the Stock Exchange is a source of capital and long term finance for what used to be called the Joint Stock Company.
The London Stock Exchange is a casino – pure and simple.
This is yet further evidence of the financialisation of everything. The City’s so-called success comes from exploiting the ‘value’ in pre-existing assets, not in actually being home to a Stock Exchange that arranges future ‘patient’ finance for industry.
Hurry up, I calculate that you should have traded at least a couple of shares by now…