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RandomLensman
2y ago
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The money is not siphoned out of the economy (unless it all leaves the US/World). The money made in finance is just as any other money, i.e., it is used to consume, invest, save etc.
Btw., no-one is forced to trade incessantly, either.
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stouset
2y ago
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The money technically being “in the economy” is cold comfort to the workers whose COL has steadily increased while wages have remained flat.
twoodfin
2y ago
https://fred.stlouisfed.org/series/MEHOINUSA672N
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