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I should be mentioned that the popularity of these pathological financial assets is not solely due to social manipulation, the loss of faith in markets and inst
by Comevius 5y ago
I should be mentioned that the popularity of these pathological financial assets is not solely due to social manipulation, the loss of faith in markets and institutions came first, then came the manipulation. The result is further wealth transfer, inequality, addiction, chaos, poverty.
In the Middle Ages it was the Catholic church, today it's venture capital firms like a16z. There are plenty of greater fools, and new ones are created every day. A few people gets filthy rich while nothing of value is produced.