How is this in any way something that is "eating the world"?
The author states "You see, Guitar Center used to be a musical instrument company, but now it is just one more imperial outpost for the spare financial capital of the top 0.1% of the population. For the people now supplying GC with liquidity, risk is a tool for cash flow, not a concern for survival."
So...it's a company being kept afloat by rich people taking a gamble on subprime debt - who cares what their corporate structure is, or if the company lives or dies? You're not logging onto your eTrade account with 10 grand and buying GC bonds that you've been duped into thinking are rock solid for some reason. You'll still be able to buy a guitar from, oh, a jillion other places that will sell you a guitar.
At this point everyone has had fair warning to do their due diligence on investments, and if you can't understand it, then walk away. If some clowns with too much loot haven't learned that lesson, who cares if some of their money evaporates in the eventual bankruptcy?
There is lots that's wrong with global finance but this seems like quite a stupid example to call out.