Thursday, April 28, 2016

The Wall Street Economy
Has Taken Over The Economy
Michael Hudson .. A financialized economy is a debt leveraged economy, whether it’s real estate or insurance or just living, & debt leveraging means a larger portion of assets are represented by debt, raising debt-equity ratios, but also that more & more of people’s incomes is paid to creditors. So there’s a flow of revenue from the production & consumption economy into the financial sector .. "Every economy is a credit economy." .. on Wall Street: "The Wall Street economy has taken over the economy and is draining it." .. 24 minutes

1 comment:

Anonymous said...

Vox’s Puff Piece on Goldman Sachs Doesn’t Reveal Goldman Sponsors Vox

Missing from this report was any disclosure that Goldman Sachs is a sponsor of Vox’s podcast, The Weeds, co-costed by Yglesias. How much exactly Goldman Sachs pays Vox Media is unknown, but any amount should compel the “new media” company to note this fact when reporting on Goldman Sachs — especially when it’s promoting both its economic and political bottom line.