We’re increasingly earn profits through financial activities rather than producing goods and services. This shifted income toward owners of assets. But these assets are all inflated which added extra gap between the rich (paper rich) and the poor (cash poor).

Financialization changed our economy. It shifted focus from producing goods and creating long-term jobs to making a quick short-term profits, stock prices, and paper wealth. This kind of capitalism is very different from the capitalism that once made America great - our industrial capitalism.

Our once great industrial capitalism seeks to build productive capacity and build middle class base. Today’s finance capitalism seeks "money making money" through the financial, insurance, and real estate, so called FIRE sectors.

Our industrial capitalism was attacked and damaged by 2 fronts, globalization and financial capitalism. This increased economic inequality.