Entire South American economies completely transformed bc Saudi royalty had to invent some fake viral pastry so that pooping on instagram influencers wasn't the first result when you search for "Dubai chocolate"
The Real Economy of goods-services-commodities is what all of us even care about, anyway.
post-1970s Financialization of the global economy and banking has disproportionally weakened and made irrelevant the . Financialization and financialized wealth instruments are all that the HNW ruling class 0001% (<--includes all the "tech" Broligarchs) care about at all: the Real Economy may as well not exist. Corporations today spend most of their profits shoveling back into stock buybacks to artificially boost their own valuations, that is how CEOs get bonuses none of the major manufacturing corporations even give flying fuck about their own brand hard products, it's all about inflating share valuations in the firm's portfolio. post-1970s Financialization of the global economy has separated product from value and exterminated any price discovery mechanism: it is only and exclusively about making money from money. That is is, all that even exists.
'Capitalism' ended forever, died and went to heaven in 2008. Done. Finished. Since 2008 all the top corporations, HNW entities, investment banks, sovereign governments are 100 percent dependent on endless QE debt note fiat currency bailouts and backstops from central banks, saddled as perma-debt on the backs of sovereign citizens through their own nations' treasuries.
>"The real money to be made in the world today is not by produing anything at all. It's simply by forms of speculating — 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."
@Bonecondor This is me posting into the void but if you need to be set up via twitter you probably are a hideous freak and have burn marks all over your face or smth
I would victory lap because I said Middle East shit was irrelevant but I didn’t expect it to dip that much tbh. Still made money but would be lying if I say I didn’t shit myself lmao