The economy is just three people standing in a circle handing a check for $1 million back and forth saying they’ve doubled, what now trippled, wait now quadrupled profits.
I think it’s been handing around debt derivatives over and over.
Be a debt ridden company that makes no profit but somehow made the richest people on earth. Have to shove this $200 billion in debt somewhere. Find some random company and instantly make the founders billionaire with tons of shares propped up by debt. Rinse repeat until the dollar is completely worthless. Crash out on your super yacht and private island bunker.
It is cool and good that the entire US tech sector is financialized in an entirely circular way, with a singular point of failure (unironic)
Also that such singular point of failure is being eroded day in day out.
The economy is just three people standing in a circle handing a check for $1 million back and forth saying they’ve doubled, what now trippled, wait now quadrupled profits.
I think it’s been handing around debt derivatives over and over.
Be a debt ridden company that makes no profit but somehow made the richest people on earth. Have to shove this $200 billion in debt somewhere. Find some random company and instantly make the founders billionaire with tons of shares propped up by debt. Rinse repeat until the dollar is completely worthless. Crash out on your super yacht and private island bunker.