NYSE - LSE
| RIO | -0.1% | 59.43 | $ | |
| BTI | 0.69% | 53.53 | $ | |
| BP | 0.02% | 32.255 | $ | |
| CMSC | -0.44% | 22.502 | $ | |
| SCU | 0% | 12.72 | $ | |
| CMSD | 0.39% | 23.15 | $ | |
| SCS | 0% | 10.33 | $ | |
| BCE | -0.86% | 23.33 | $ | |
| NGG | -0.26% | 70.01 | $ | |
| GSK | -2.51% | 38.015 | $ | |
| AZN | -1.32% | 75.59 | $ | |
| RYCEF | 7.29% | 14.13 | $ | |
| BCC | -0.9% | 84.13 | $ | |
| VOD | -3.46% | 10.69 | $ | |
| JRI | -0.23% | 13.08 | $ | |
| RELX | 0.23% | 51.9 | $ | |
| RBGPF | 0.52% | 74.42 | $ |
Finance’s Role in Economic Ruin
The finance industry, often hailed as the backbone of modern economies, has a darker side that increasingly threatens global stability. Since the 2008 financial crisis, triggered by reckless speculation in mortgage-backed securities, the sector’s unchecked growth has sown seeds of destruction. In the United States alone, the financial sector’s share of GDP rose from 2.8% in 1950 to 8.4% by 2020, yet it produced no tangible goods, instead profiting from debt and risk. Critics argue this shift diverts capital from productive industries like manufacturing—down from 27% to 11% of US GDP over the same period to speculative bubbles.
The 2023 collapse of Silicon Valley Bank, fuelled by over-leveraged bets on tech stocks, cost $20 billion in bailouts and sparked a domino effect across European markets. In the UK, the 2022 mini-budget crisis, exacerbated by hedge fund short-selling of gilts, pushed borrowing costs to record highs. Economist Ann Pettifor warns, “Finance thrives on instability it creates”. With global debt at $305 trillion—three times world GDP—experts fear the industry’s pursuit of profit through complex derivatives and high-frequency trading could precipitate another crash. Is finance an engine of growth or a wrecking ball?
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Iran's Nuclear Ambitions
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Demographic Collapse Crisis
Israel's War on Iran's Ayatollahs
