Agree.

Financial parasites invest heavily to convince the people that they are part of the real economy. To shift money from one place to another and extract a service fee is not a contribution to the economy. Interest is not value created. Stock buybacks and associated stock growth is no sign of increased production.

The shift from industrial capitalism to finance capitalism is a shift back into feudal society.

Read: “Killing The Host”

-Michael Hudson

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I think it was Hudson who talked about when economists where first coming up with GDP as a calculation, they were going to *subtract* the financial sector from final GDP.