>>511055985
>only see beauty in money
post-1970s global economy is Financialized.
We are globally now in phase 2 of Financialization.
Financialization is characterized by one exclusive principle, alone: Making money off of money. 'Capital' might as well not even exist, only the existence of vast quantities of ('numbers on a screen') money is what is required or important.
Debt note fiat currency issued in unlimited quantities by central banks is all that matters after 2008 (the year 'capitalism' died and went to heaven permanently, after that year the entire system is wholly dependent upon endless supplies of debt note fiat currency from central banks without which it would instantaneously implode). This isn't "capitalism"
Today the finance sector makes up only 7% of the economy and creates a mere 4% of all jobs while generating 40% of corporate profits. The Financialization of banking, and of business in general, has hampered real growth and innovation while exacerbating inequality. It has disconnected actual product from value, and created vast debt-based bubbles in markets such as housing, insurance, and credit. "Cheap money" encourages and incentivizes top global manufacturing corporations to shovel assets into buybacks of their own stocks (<--which is the primary booster of the S&P500) rather than manufacturing capital improvements of their own product/service output. Absurdly low and negative interest rate borrowing costs have incentivized sovereign governments (and corporations) to no longer borrow on the expectation that they will repay, but on the expectation that they will refinance.