From time to time you have seen me discuss the synchronized markets, where global markets like the Dow Jones, S&P 500, and Euro Stoxx 50 move in a perplexing, synchronized rhythm. David Webb says they aren’t really markets anymore, but a simulacrum.
What could possibly go wrong by having fake markets?
In this second part of our conversation David Rogers Webb and I explore the concept of ‘hyper-financialization’ and how the growth of financial instruments has far outpaced real-world economic activities. This imbalance, I argue, is not accidental but a result of engineered efforts, leading us toward a financial accident of our own too-clever-by-half making.
This conversation is more than just a financial analysis; it’s a call to awaken to the realities of a financial system that has strayed far from serving the common good. As we ponder the Great Reset that looms on the horizon, it’s becoming increasingly difficult to see things other than as a great swindle, a great taking, an unfair last grab for what’s valuable as the economy slides over the peak net energy hill.
So, buckle up and tune in.