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

A riveting exposé of a permanent financial dystopia, its causes, and real-world consequences 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.” "The 21st century has produced two major financial crises and many smaller ones in between. The fallout created chaos and disruption for people at all levels of the global economy. Nomi Prins examines the consequences of the unstable economy that caused what she calls the state of Permanent Distortion; a wedge between a funhouse financial realm that thrives even in times of social and political disorder, and a struggling economic one that does not adequately meet the needs of the general population. Through deep reporting and insightful analysis, Prins navigates the critical points in between the two polarities, including how the concept of "free markets" is dead, how a political power shift is bringing in a new world order, why trade wars have only just begun, and why we're in for more civil and social unrest, as a result"-- Provided by publisher A riveting expose of a permanent financial dystopia, its causes, and real-world consequences