Is the market illiquid or insolvent ? World GDP, last time I checked, was still growing. Why would the financial market be dying ?
Any thoughts, disagreeing, agreeing, or explaining in plain English, this Zerohedge post ?
.http://www.zerohedge.com/news/why-market-slowly-dying...the days of equity capital markets in their current configuration are numbered, we now note that none other than Morgan Stanley's Quantitative and Derivative Strategies released a note which, with a three year delay, effectively predicts the end of capital markets in a world where every declining retail participation (another topic we have been hammering for the past 3 years as it is only the most natural response to a world in which not only equities are openly manipulated by central banks, but in which perpetrators for massive market disturabances are neither identified nor prosecuted) is replaced by artificial high frequency trading churn, which never was and never will be a true liquidity provider on a long-term basis.
To wit from Morgan Stanley: "In our mind, many of the approaches to algorithmic execution were developed in an environment that is substantially, structurally different from today’s environment.