Wall St., Financial Bubbles, & Financial Instability

February 15, 2021 by jackrasmus

Recently I was asked to explain by Michael Albert and ‘Revolution Z’ media how Wall St. stock markets work, what’s up with the recent Gamestop bubble, what’s financial speculation, what causes financial instability and crises–and how they are all related to, or unrelated to, the real economy. Presented in simple terms, the interview clarifies for laypersons how the current capitalist financial system functions to make investors ever richer, while the rest of the real economy experiences periodic great recessions, wages stagnate and fall, and the quality and quantity of jobs deteriorates.