>>513090341
>entire economy is bullshit
the post-1970s global economy is Financialized.
Financialization is exclusively about making money from money (the Real Economy of goods-services-commodities, might as well not even exist) using speculative debt instruments most of which never existed prior to the 1980s such as CDOs, credit default swaps, derivatives, mortgage backed securities all of which are acquired and manipulated in a gigantic black box casino of the global investment banks. This is where all of the world's wealth in the 21st century is generated and held by the top HNW entities, totally segregated from the Real Economy.
Financialization of the global economy began during the 1980s and was officially inaugurated with the 1999 repeal of Glass-Steagall. Also the neoliberal offshoring of western manufacturing productive capacity began in 1980s under Thatcher-Reagan and accelerated under Clinton, which in addition to Financialization has impoverished the lower and middle class of the west entirely. (Hence, the rise in populist politics after 2010)
>"The real money to be made in the world today is not by producing anything at all. It's simply by forms of speculating β basically making money from money. That's the most profitable, and by far and away the biggest form of economic activity that exists in the world today."
β Nick Dearden (quoted in the documentary film '97% Owned')