The de-industrialization of the United States

The de-industrialization of the United StatesThe fundamental problem is the big players on Wall Street have misused the credit mechanism of the economy for their own private gains through the bloating of debt and speculation, at the expense of actually allocating and supplying capital to the real economy.

The dollar volume of financial trading has increased nearly forty-fold since the 1960s, but almost none of that trading is of any use to the real economy.

Even now, after the collapse of September 2008, big Wall Street firms are still making most of their money by trading for their own account.

Anyone who believes that saving the financial system is the way to save the economy, just does not know what the financial system is really all about.

Tony Wikrent at e pluribus media