Panicky Hyper-financialization Can’t Tolerate any Rise in Interest Rates

This past year has involved the largest speculation in human history. The fear of a collapse of bloated prices in financial stocks blocked any systematic health response to COVID. With the Fed printing money at the rate of 1.4 trillion dollars per year, the S&P 500 rose 88% in the last year. Crypto-currency has risen dramatically with bit-coin having risen 600%. Meanwhile there has been no investment in infrastructure, education or small businesses. The question is how soon will the chickens come to roost.

Read in WSWS

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