I detest the interest based financial system, making money on money is not the best way for the society. For that reason, I keep my stock portfolio clean of financial institutes or banks. I am still suffer from the decrease of the stock price and asset, but at least I hold on to what I believe, and it will safe me.
Debt or borrowed money, became a huge industry around the world. The world turn away from manufacturing and toward an economy based on moving and managing money.
In the US itself, the sectors of finance, insurance and real estate sector swelled to 20% of GDP, ahead of manufacturing at 12%. Banks and insurers are dealing with obsecure instruments, debt papers, CDO. What a nightmare!
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