The Guardian published this headline today:
It was followed by this crass commentary:
It was a bumper year for stock markets globally and the surprise, perhaps, is that the FTSE 100 index more than kept up. The London market has sometimes been derided as lacking dynamism – the hedge fund manager Paul Marshall called it the “Jurassic Park” of exchanges a few years ago – but its main index enjoyed its best 12 months since 2009. The Footsie didn't quite make it to the round number of 10,000 but still improved by 21.5%, slightly outperforming the S&P 500 index in the US.
So, it looks like we're going to war, and miners are doing the best to destroy the planet we live on, but what the heck, the FTSE's up 20% or more, and we're all living in a bubble that is bound to burst - so let's get out the Champers and celebrate!
This, I suggest, is what the madness of financial capitalism, as driven by financialisation and financial engineering, looks like.
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[…] writing a post on comment in the Guardian this afternoon, I realised that my glossary entry on financial capital […]
Pratley by name; Pratley by nature? He must have a had too good a Christmas and get himself off over to the Observer.
Thank God we still have Larry.
🙂
[…] writing a post on comment in the Guardian this afternoon, I realised that my glossary entry on financial capital […]
[…] writing a post on comment in the Guardian this afternoon, I realised that my glossary entry on financial capital […]
Might finacial capitalism be an examplle/instance of the “Tyranny of Theory” imposed by Neoliberalism?
https://www.google.com/search?q=tyranny+of+theory+definition&oq=&gs_lcrp=EgZjaHJvbWUqCQgAECMYJxjqAjIJCAAQIxgnGOoCMgkIARAjGCcY6gIyCQgCECMYJxjqAjIJCAMQIxgnGOoCMgkIBBAjGCcY6gIyCQgFECMYJxjqAjIJCAYQIxgnGOoCMgkIBxAjGCcY6gLSAQkxODc5ajBqMTWoAgiwAgHxBYrTTVjzOgDm&sourceid=chrome&ie=UTF-8
Yes, in a word.