>>19951107>"before then"post-1970s the global economy is Financialized.
these are brand new, never-before-existent in human history speculative instruments (derivatives, options, CDOs) that create wealth out of nothing. Much of this wealth is squirreled away from the Real Economy in hidden networks )(for example the eurodollar time-dependent deposits) for sole benefit of HNW entities, fund managers BlackRock/Vanguard, central banks, large corporate organization et cetera never to touch or impact the Real Economy of goods-services-commodities. Administered by the central banks and global investment banks which issue the endless supplies of new 'printed' debt note fiat currency to keep this speculative gigacasino afloat, in the U.S. it fully came to operation after 1999 repeal of Glass-Steagall which allowed all the commercial banks to use toxic speculative assets on balance sheets, for mortgage loans.... we had a collapse imminent in 2001 after the dotcom crash then 9/11 and several years of global war spending (temporarily keeping global Financialized economy and equity markets bubbled), then in 2007 the toxic (enabled by Glass-Steagall repeal '99) assets of the mortgage industry imploded, now here we are
See my intial post ^^^on thread w/ references and educational films
