The SUPER-RICH Create Imaginary Money
The world’s wealth has doubled in a little over ten years. The financial industry has, in effect, created a whole new share of global wealth and redistributed much of it to itself.
In the U.S., financial sector profits as a percentage of corporate profits have been rising steadily over the past 30 years. The speculative, non-productive, and fee-generating derivatives market has increased to an unfathomable level of over ONE QUADRILLION DOLLARS — a thousand trillion dollars, twenty times more than the world economy.
With the U.S. driving the expansion of this great bubble of wealth, our nation has become the fifth-most wealth-unequal country in the world, while global inequality (between rather than within countries) has become even worse than for any one country. Just 250 individuals have more money than the total annual living expenses of almost half the world — three billion people.
— Paul Buchreit http://www.commondreams.org/view/2013/12/09-2