bankers were supposed to be the Servants of capital but with globalization they became the the Masters of the Universe with one press of the button they could destroy two countries At Once by taking billions and billions from one country from let's say the United States hollowing out whole manufacturing areas destroying the working class there and throwing the money into Korea right and then when the bubble bursts in Korea with they press the same button and the money leaves Korea and Korea is destroyed

we're not in the economy of the 1950s anymore. And we act as though we are, that finance is this productive force and it's building, it's building wealth. Well, for the most part, it's not. It's, there's so much financialization, so many financial assets, that they've become an extractive force. And a big piece of this 00:06:37 is that we're not really distinguishing between productive investments and speculative investments

As a result, Markovits calculates that three-quarters of elite income now originates from labor rather than inherited capital.

A Harvard Business Review survey found that 62 percent of high-earning individuals work over 50 hours a week, more than a third work over 60 hours a week, and one in 10 work over 80 hours a week. According to Markovits, elites today work an average of 12 more hours per week than middle-class workers (the equivalent of 1.5 additional workdays).

It's a form of socialism for the very, very rich and brutal austerity for the rest of us, as the businesses around us implode for lack of access to capital and take the jobs with them.

finance learned to make doubtful innovations that do not create wealth but merely lead to differential inflation, where financial assets increase their value faster than salaries, to the detriment of workers and small productive businesses. Massive bailouts have allowed finance to remain unscathed and focused on short-term speculation, expecting high returns from such activities.