Courtesy of the Reformed Broker:
“Let me help you out, sir. Finance is one of the things we do terribly in this country, not well. Alan Greenspan’s policies simply created the illusion that we “did finance well” when in reality, what we did well instead was wealth transference. We used inflation as a weapon and permitted the privileged few to gorge on a bloated, overly-financialized economy that was fed with debt growth rather than actual production.”