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Prior to the financialzation of the US economy, beginning in the '70s, all forms of capitalism had focused on making profits on manufacturing or delivery of services such as medical care, personal care, legal and accounting services, etc. The focus now is on financial manipulation of representations of wealth, with delivery of services or products as a secondary factor. E.g. General Electric and General Motors. Now large corporations show PROFITS from financial manipulation, show LOSSES from delivery of products and services and are dependent on preferential access to cheap or free government money to show profits at all. That is an unprecedented and fundamental shift from any previous mode of operation. So I will go with Yanis.


"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun May 16th, 2021 at 08:39:02 PM EST
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