General Discussion
In reply to the discussion: Center-right Democrats finally face a formidable challenge -- and that has them terrified [View all]Dragonfli
(10,622 posts)Fictional "products" based on nothing but air and equations can only produce bubbles destined to burst as they lack real substance. Of course the only thing such a financial system can produce is a means to transfer wealth to those that carefully design the bubbles to achieve that very end.
We desperately need to get back to an economy based on real assets, actual goods and services that have inherent value. I would prefer an economic system based on industrial productivity as objects with real value can be created from resources utilizing labor and would result in incomes for those that labor (to spend on actual things being made)as well as concrete items with value that can be traded or sold.
I often wonder how the hell we got so far away from a real economy with real products, productivity, and labor value. How does a country live on paper and equations alone? How can such possibly continue for long?