Permanent Distortion How The Financial Markets Abandoned The Real Economy Forever Nomi Prins by Nomi Prins 9781541789074, 1541789075, 2022013120 instant download after payment.

If you’ve ever wondered why the stock market seems to always go up but your own financial situation doesn’t behave in the same way, you’re not alone—and you’re not crazy. There are forces at work that fuel financial markets at the expense of destabilizing the real economy. In the world that most of us inhabit, people are struggling to pay rising bills and working grueling hours to make ends meet. There’s a divide between those hard-pressed to cover basic needs and the giddiness of the financial markets, where billionaires thrive; the two groups might as well be living in alternate universes. The economy and high finance do coexist, but they don’t have much to do with each other when you dig beneath the surface. Money is the obvious divide

The reality is that money, like a virus, will always seek the easiest way to reproduce itself. The profits represented by stocks and bonds have disproportionately accrued to the wealthy and investor class relative to everyone else. That shift has left the world fragmented across multiple economic, political, and societal levels where instability is rampant and wealth relentlessly trickles upward. The epic divide between finance and the real economy is what I have defined as a permanent distortion. This is not a phrase chosen lightly. There’s no going back from here. There’s a seismic rift between, on the one hand, economic growth, wages, and a decent standard of living and, on the other, market-driven wealth accumulation that during a devastating global pandemic minted nearly five hundred new billionaires in 2020 alone—the equivalent of one born every seventeen hours. And that rift is permanent.1

Permanent Distortion is the story of the winners and the losers of today’s financial and monetary system. But the wedge between those who have and those who don’t isn’t just about inequality. While that is certainly a by-product of permanent distortion, the story runs deeper.