Financial Capitalism

What happens when the global economy is no longer based on agriculture, industry, information, services, and consumption?  What happens when the most valuable “product” is debt?

We had a peek at this in the financial collapse of 2008.  Banks got caught with mortgage bundles that were no longer worth what they had bought them for.  If those mortgages had been corn or soybean, well, you just take a loss.  Same if they had been corn or soybean futures.  But what if the “commodity” is debt itself?

If you have not seen the movie, Margin Call, I highly recommend it. Here is a link to the trailer.  But take a look at this short video below for a more focused analysis.

“The economy has become a casino and the high-rollers never lose.”

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