RE: https://mastodon.social/@bigpumpkin/115757734752328812

jwcph@helvede.net

" - while we think of the role of the finance sector as "capital allocation" – that is, using investors' money to fund new businesses and expansions for existing business – that hasn't been important to finance for quite some time. Today, only 3% of bank activity consists of "lending to firms and individuals engaged in the production of goods and services."

The other 97% of finance is gambling." - @pluralistic

#economy #finance #capitalism #fraud #waste #gambling