Of course, honest traders change their minds all the time and cancel orders as economic conditions change. That’s not illegal. To demonstrate spoofing, prosecutors or regulators must show the trader entered orders he never intended to execute. That’s a high burden of proof in any market.
The enterprise stood as a place of “legacy” and “security” which prevented mobile or other forms of computing. Paradoxes emerged wherein an administrative assistant had more computing power in his pocket than the CEO had in her data center; where the same assistant would know what was happening faster than any of the bosses. Homes had better connectivity than offices and productivity at small firms increased faster than at big firms. Incidentally, even the slowest enterprises were faster then the government. The bigger the firm, the slower and stupider it seemed. Were large firms employing dumb managers or did being a manager in a large firm make you dumb?
“Think of a herd of gazelles in the wild,” adds Chris, our law enforcement expert. “They’ll get attacked by one or two or three lions and what is their immediate response? They run away. A lion may get one of them, but the herd escapes. Every second that you’re moving away from a shooter you’re making it harder for him to shoot you. Anything you can do to get away and increase that distance will help. Also consider the effect a crowd of fleeing people has on an attacker: confusion and bewilderment. Running away is your best defense.”
Now I know who is to blame for the global jitters. Whether it’s the Chinese economic wobble dragging down world markets and panicking investors, or wars in the Middle East flooding European shores with refugees, the same global conspiracy is at work. It is journalists, with pens and keyboards, cameras and smart phones, wielding their extraordinary power of destruction on an otherwise orderly, prosperous world.
That’s what an increasing number of governments would have you believe.
No less than the second in command of China, the Premier Li Keqiang, has stated that Chinese GDP data is unreliable and “man-made”. To put this in perspective, the current Premier of China, second in command for the entire country, leading economic policy formulation, a Phd in economics, having spent essentially all his career inside public administration in various posts throughout China advises you not to trust GDP figures or the economics professor in the United States who has never lived in China and has no specific expertise in China.
