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Topic Title: Makers and Takers: The Rise of Finance and the Fall of American Business Topic Summary: Created On: 05/24/2016 02:48 PM |
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05/24/2016 02:48 PM
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http://www.amazon.com/Makers-T...s-ebook/dp/B014BR46P2
" Thanks to 40 years of policy changes and bad decisions, only about 15 % of all the money in our market system actually ends up in the real economy - the rest stays within the closed loop of finance itself. · The financial sector takes a quarter of all corporate profits in this country while creating only 4 % of American jobs. · The tax code continues to favor debt over equity, making it easier for companies to hoard cash overseas rather than reinvest it on our shores. · Our biggest and most profitable corporations are investing more money in stock buybacks than in research and innovation. · And, still, the majority of the financial regulations promised after the 2008 meltdown have yet come to pass, thanks to cozy relationship between our lawmakers and the country's wealthiest financiers. " ------------------------- “It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti |
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05/24/2016 03:58 PM
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Not to mention the brain drain,
Our best and brightest are wasting their lives writing code to manipulate financial inequities. Their masters are getting filthy rich. I guess that counts as "success" for some minds. |
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05/24/2016 04:28 PM
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Aren't they all crooks? We are probably better off as a society having them do what they were doing, as opposed to committing more pedestrian crimes like murder, rape and robbery. Besides, progs have a monopoly on those crimes and it would be hard for Ivy League types to break into that area. More welfare to pay for the rest of us. ------------------------- I :heart; Q |
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05/24/2016 04:51 PM
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I saw an interview with the author on BBC, and the stats were chilling. This is all bullshit that we're arguing about when equity is sucked out of the economy without jobs, business, or industry. I think Karl Marx and Adam Smith would both say WTF? They didn't anticipate this.
------------------------- “It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti |
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