It is rare to find an entrepreneur such as Steve Jobs or an investor like Warren Buffett. These individuals, one an ideas person, the other a savvy investor, have made contributions to society. On the other hand Jamie Dimon of JP Morgan Chase and his ilk, the bankers, make no such contributions.
Buffett And Jobs Are Real Contributors
Everyone likes an Apple product. They are products that improve society. Inventions like the I- phone make life easier and more pleasant. Most inventions do not come about without smart financial backers like Warren Buffett. With his funds, companies are able to get off the ground and grow from a great idea. There are not many people like them.
Bankers Are Parasites
On the other hand the Federal Reserve Bank hands out money at 0% to the bankers, who have earned their positions by their status in society. They do not want to take a risk by loaning to small business. What do they do? They lend it back to the government at a small gain, but one that is assured, after all they are U.S. Treasury Securities being bought. Some money goes into the market, explaining its present meteoric rise.
What is clearly evident, is that bankers are not people of great minds, but instead those that attended special schools and usually come from a rich family. The government, which is bought and paid for by these individuals, pass laws that help them. Or repeal the laws (Glass-Steagall) that hurt them.
Unfortunately, it is the entrepreneurs fault. If the horse and buggy makers had bought congress, like the bankers did, the automobile industry would have been stymied and horse and buggies would still be around. It is not that government is evil. This is not true. Governments do a lot of good, like foster high-speed trains in Germany. It is that the U.S. government is one of the worst in the advanced world. We belong to a “corporatocracy.” The schools should not teach that the United States is a democracy.