A perfect distillation of the social uselessness of finance (pluralistic.net)

Favorite quotation: »If you work a job where you do something useful, you are on the losing side of this economy. All the real money is in this socially useless, no-value-creating, hypertrophied, metastasized finance sector. Every gain in finance is matched by a loss. It all amounts to – literally – nothing.«

These all seem to be gross simplifications that dont really help the argument. While we could certainly make a case that no value is generated in trading certain derivatives,commodity futures and options are very imporant in regulating price/ supply supply shocks in the global market.