Dan,

Are you sure you are not assuming Capitalism as free markets, the economic ecosystem, in which money serves as the medium, like air and water are the medium of life?

Rather than Capitalism, in which everything boils down to its monetary value and is valued as such.

I realize our economy functions by treating money as the signal to extract from the noise of society and the environment, but they really are the context in which money functions. It’s confetti otherwise.

So do we need a financial sector that is many times the value of the underlaying economy, both debts and assets, or is there some deeper reality we should address?

Given that debt bubble will pop eventually and those assets will suddenly become much less, it does seem there is a cliff we are wandering toward.

I certainly have nothing against free markets, but I do fear their destruction and that is the direction we are going, when the medium that enables them implodes.

I would offer up Boeing as a prime example of what happens when financialization takes over all other considerations.