
Permanent Distortion
How the Financial Markets Abandoned the Real Economy Forever
Nomi Prins(Author)
PublicAffairs,U.S. (Publisher)
Published on 27. October 2022
Book
Hardback
352 pages
978-1-5417-8906-7 (ISBN)
Description
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."
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."
More details
Language
English
Place of publication
United States
Target group
College/higher education
Professional and scholarly
Product notice
Trade binding
Illustrations
10 Figures
Dimensions
Height: 237 mm
Width: 162 mm
Thickness: 35 mm
Weight
562 gr
ISBN-13
978-1-5417-8906-7 (9781541789067)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions

E-Book
10/2022
PublicAffairs
€14.99
Available for download
Person
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.