well sure, if you'd like a job standing in between a rich person and something they want - their mercedes dealers, their $300 a pop hairdressers, their furriers, their fractional jet ownership franchises, their jewelers - its great for them. and those jobs are fine, I am not minimizing the multiplier effect of these monies trickling down.
but some people would rather not have those jobs in our economy, they want jobs in the productive sector. to sustain a broad private sector middle class, you can't just have jobs serving the rich.
This is just reflective of wall street, not the entire US economy. Its still an incredibly important part of the US economy.
True enough. The blacksmithing trade was manufacturing, for the rich and the middle class (which grew). Steel, and the automotive industry were the same. Glass, textiles, timber, and so on. It is just that our American economy has migrated toward services. Heck, if you can hook me up with a salon where they pay $300 a pop to get coiffed; I will dress like Richard Simmons and cut hair for 16 hours a day!
Not really. But I would invest in a salon or training school that turns out this kind of talent.