Michael, as I've said many, many times before, I don't think this idea makes any sense whatsoever. How does this work exactly?
SA
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You can make sense of how this process works by following the history of several giant corps such as auto manufacturers and their financial services division, AT&T and its financial services, and the prototype for this in GE and its financial services division. These are just the examples I know about. This is called diversification of corporate architecture. When one division begins to lag in rate of profit, they shift their money into higher profitable investiment like cosumer auto loans to buy products they can't afford.
This process leads to MP's reverse finance capital. Even with off shoring labor and component manufacture to the cheapest urban megaslums in China, US manufacturing was loosing ground against their financial services divisions all across the manufacturing sector.
Then against this diversification ploy, suddenly the financial services division which outstrip manufacturing division profits, collapsed during 2007-8 as it is doing now. The housing market collapse was just one part of the picture.
There is yet another layer, which are the mining and processing mills of raw materials all of which are far cheaper in China, India, Bolivia, Peru. Then the oil sectors where in the Middle East they import Palestinians, Yemnis, North Africans, Pakistanis, and who knows who for the labor disease ridden end of oil. For a view of this process follow US giants in mining like Alcoa (aluminum, copper, zinc, non-ferrus metals)
The whole global econmic system is going to collapse from the same neoliberalism.
CG