Financial markets and human tragedy

[Mich the Tester]

Maybe I'm just too sensitive. As I've followed the news the last few days I obviously noticed that the stock markets are down to due the disaster in Japan. Traders have been shorting Japanese stocks and speculating on the Yen, and obviously the Japanese markets have been hit hardest.

Something about this makes me want to wretch. I know, some people are simply trying to protect their investments. I know, there will inevitably be economic consequences from what's happened.

But for bloody hell's sake, this is a disaster where thousands, maybe tens of thousands of people have died and hundreds of thousands have been left with absolutely nothing. Thousands more might yet die in the mess that seems to be growing. Speculating and making money on this just seems to me to be somewhat distasteful. There's a chappy at clientco boasting that he's done quite well out of shorting Japanese stocks. I struggled to resist the urge to punch his head through a wall, but happily he's gone home now.


Thoughts?

Anyway, i just had to say it. So there. Said.

[SueEllen]

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But for bloody hell's sake, this is a disaster where thousands, maybe tens of thousands of people have died and hundreds of thousands have been left with absolutely nothing. Thousands more might yet die in the mess that seems to be growing. Speculating and making money on this just seems to me to be somewhat distasteful. There's a chappy at clientco boasting that he's done quite well out of shorting Japanese stocks. I struggled to resist the urge to punch his head through a wall, but happily he's gone home now.

You should have done it anyway.

Then explained that you haven't heard from close friends in Japan.

Unfortunately sometimes people need a reality check on what really matters.

There is no point having loads of money if you are dead.

[Old Greg]

They are behaving totally logically within our capitalist free market system. If they didn't make the money, then someone else would. The alternative is an alternative system, not for individuals to behave differently. Oh, and punch them - it's the system making you do it and if you didn't, someone else would.

[xoggoth]

Actually doing something to help would be great but I can't really see the point of just taking a pious attitude.

[Mich the Tester]

They are behaving totally logically within our capitalist free market system. If they didn't make the money, then someone else would. The alternative is an alternative system, not for individuals to behave differently. Oh, and punch them - it's the system making you do it and if you didn't, someone else would.

You've hit the nail on the head. But surely a market is supposed to exist to serve the needs of people, while now we've reached the point that people exist to serve the needs of the market.

[AtW]

Something about this makes me want to wretch. I know, some people are simply trying to protect their investments. I know, there will inevitably be economic consequences from what's happened.

Selling off stocks might qualify as protecting investment, but shorting them is making profit on human misery as well as shafting proper investors.

And for this reason alone SKA will probably never float on stock exchange.

[Mich the Tester]

Actually doing something to help would be great but I can't really see the point of just taking a pious attitude.

Indeed, but there's also no need to deliberately seek profit from this kind of suffering.

Would love to do something, but can't see any other way than to make an extra red cross donation.

I don't know the answers, but that doesn't mean I can't ask the questions.

[MarillionFan]

They are behaving totally logically within our capitalist free market system. If they didn't make the money, then someone else would. The alternative is an alternative system, not for individuals to behave differently. Oh, and punch them - it's the system making you do it and if you didn't, someone else would.

Don't hate the player. Hate the game.

[PAH]

Thoughts?

Typical of the general moral decline of humanity.

Not suprised though. Haven't the 'dirty spekulants' (© AtW) been doing shady business for as long as it's legal? The buying up tanker fulls of oil waiting for the prices to artificially rise, and in the meantime have them anchored in the English Channel comes to mind.

[Churchill]

You've hit the nail on the head. But surely a market is supposed to exist to serve the needs of people, while now we've reached the point that people exist to serve the needs of the market.

Until you saw the photographs you were exploiting the disaster for your own amusement re: the Songs for Japan thread.

What's the difference?

With regards to the markets serving the people, come on, you're not that naive, Shirley?