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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 380.060.0%4:00 PM EST
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To: TobagoJack who wrote (53463)8/12/2009 1:38:50 AM
From: elmatador  Read Replies (2) of 218012
 
"finance as a share of our activities (i.e., percent of GDP) has roughly doubled in the past 40 years. What has this really added in terms of productivity? The ATM and the credit card were great breakthroughs, but they are old."

That't the root cause and I have written here about that for a long time.
Finace must account perhaps to 5% of the GDP. But look closely and it was extractign 30% of all corporate profits in the US and Iceland and Ireland were close behind inside bandwagon.

"Fincance is rent seeking"? Again this is what I have bee talking here too: Ficance is fleece-seeking. They seek to fleece every cent out of you using odious means.

"Rent-seeking means effectively a tax extracted by one sector from the rest of the economy."

That is why we had capital hogging:to use the wepaons to seek the rent of produing countries to import their money into the OECD.

Why do you think I was calling "Bring it on"? Because the Great Unwinfing is welcome. and over due. Long overdue.

Now that is Unwinding com gusto (and there is no coming baclk or altenrtaive) we will see progress overall in the world economy.

Because capital is going to where people are producing goods and sevrices and invetsment in the imporvement of the people there.

I am not saying those donkeys here and elsewhere would not spend unwise their money (because thye never had it to learn how to) but it must start now how to use money and engage in the world economy.
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