Bay Area Guy points out:
Not to mention that one of the reasons why our economy is in such shit is that over the past several decades finance has grown at the expense of manufacturing.We’ve transitioned from a production based economy to an almost purely financial, service based economy.
And we wonder why China continues to eclipse us.
Indeed, all our base belongs to parasitical finance capital now. We’re all working for the banksters. For sure all the politicians are. I know who that’s who Morocco Bama answers to at the end of the day: Goldman Sachs. He gets his marching orders straight from them.
Curiously, almost the entire media seems to be on board with the usurpation of the real economy by the FIRE sector. I’m not sure why that is. Why does the US media support finance capital at the expense of the real economy? I guess the US media is run by the US plutocratic oligarchy, and the oligarchs increasingly are tied in with the FIRE sector as a way to make money.
Parasitical finance capital has usurped much of our economy, and there is not much left of the “real economy.” I do not consider finance capital to be part of the real economy. It’s like some gigantic gambling casino. There’s no real value being created. It’s nothing but speculation and jerking off with numbers and spreadsheets. There’s no there, there. Real value is actual products, things, stuff you can hold in your hand, not speculative finance, numbers floating around in the sky, often without any real monetary value to back them up.
Goldman Sachs reported a major earnings drop in the last quarter. This is great news! The only way to get the economy back on track is if we see declining earnings (lower profits) for the banksters. Increased profits for the banksters is bad for all the rest of us. It’s only when these parasites start taking a real financial hit that we can think about reclaiming our economy.