Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever

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Nomi Prins

Permanent Distortion

How the Financial Markets Abandoned the Real Economy Forever

Nomi Prins

$49.99

Hardback

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English

PublicAffairs,U.S.
13 December 2022

Banking

"It is abundantly clear that our world is divided into two very different economies. The real one, for the average worker, is based on productivity and results. It behaves according to traditional rules of money and economics. The other doesn't. It is the product of years of loose money, poured by central banks into a system dominated by financial titans. It is powerful enough to send stock markets higher even in the face of a global pandemic and threats of nuclear war.

This parting from reality has its roots in an emergency response to the financial crisis of 2008. ""Quantitative Easing"" injected a vast amount of cash into the economy-especially if you were a major Wall Street bank. What began as a short-term dependency became a habit, then a compulsion, and finally an addiction.

Nomi Prins relentlessly exposes a world fractured by policies crafted by the largest financial institutions, led by the Federal Reserve, that have supercharged the financial system while selling out regular citizens and leading to social and political reckonings. She uncovers a newly polarized world of the mega rich versus the never rich, the winners and losers of an unprecedented distortion that can never return to ""normal."""

By: Nomi Prins
Imprint: PublicAffairs,U.S.
Country of Publication: United States
Dimensions: Height: 236mm, Width: 162mm, Spine: 36mm
Weight: 557g
ISBN: 9781541789067
ISBN 10: 1541789067
Pages: 352
Publication Date: 13 December 2022
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Hardback
Publisher's Status: Active

Nomi Prins is a journalist, speaker, respected TV and radio commentator, and former Wall Street executive. The author of six books, including All the Presidents' Bankers, Other People's Money, and It Takes a Pillage, her writing has been featured in the New York Times, Fortune, Mother Jones, Guardian, and Nation, among others. She was a member of Senator Bernie Sanders (D-VT) Federal Reserve Reform Advisory Council, and is on the advisory board of the whistle-blowing organization ExposeFacts.

Reviews for Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever

A hard-hitting survey of the 'forces...that fuel financial markets at the expense of destabilizing the real economy'...Prins effectively dismantles the machinery of financial markets and explains how they operate in a secret world of their own. --Kirkus Reviews