"Dangers of Financialization"
The whole thing is worth a watch - but I'll break down some time markers.
0:00 - Personal Introductions
0:23 - Shift in Finance Business Model
2:06 - Post-'08 Crisis Narrative
4:24 - Housing Crisis & Private Equity Firms
5:35 - %s of Power (Employment/GDP/Corporate Profits)
6:52 - Apple cheats & Icahn
10:41 - Complexities of Corporate Finance
11:39 - Discussion on 'Buybacks'
13:25 - The Looming Crisis - 'a bleeding insolvency'
I recommend watching it from this point forward.
Blockchain-based, opt-in, monetary systems will change the world.
TIME magazine assistant managing editor Rana Foroohar’s book Makers and Takers sounds an important note of warning on the dangers of financialization of the U.S. economy. She reveals that the financial system no longer funds new ideas and projects — only about 15 percent of the money coming out of financial institutions goes into business investment; the rest is spent buying and selling existing financial instruments. That’s why $4 trillion worth of monetary stimulus that followed the 2008 financial meltdown has failed to produce anything more than anemic growth_..