Source: Financial Sense
Psychopaths flew financial weapons of mass destruction (derivatives) into the twin towers of our economy, the housing market and the stock market. Ten trillion dollars of wealth evaporated.
Ninety-nine percent of the economic experts—financial planners, economists, economic professors, brokers, and investors—missed the largest bubble in history as well as the systemic risk that the bubble posed.
The National Board of Economic Research (NBER) (who is responsible for declaring a recession) was 9 months late calling the worst recession since the Great Depression.
How Economics Got Hijacked
I advocate that the larger story here isn’t derivatives or the Financial Crisis of “2008,” but instead how economics has been secretly hijacked.
When I began researching for the book I’m writing I had a premise: “Corporatocracy” had replaced capitalism.
Read More: Psychopathic Economics 101