Permanent Distortion, Nomi Prins
Permanent Distortion, Nomi Prins
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Permanent Distortion
How the Financial Markets Abandoned the Real Economy Forever

Author: Nomi Prins

Narrator: Ellen Archer

Unabridged: 10 hr 3 min

Format: Digital Audiobook Download

Publisher: PublicAffairs

Published: 10/11/2022

Includes: Bonus Material Bonus Material Included

Synopsis

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.”

About Nomi Prins

Nomi Prins is a renowned author, journalist, and speaker. She is the author of Black Tuesday, It Takes a Pillage, Jacked, and Other People's Money, which predicted the current financial crisis and was chosen as a Best Book by the Economist, Barron's, and the Library Journal. Nomi has been a featured commentator on numerous national and international TV programs, including for CNN, CNBC, MSNBC, CSPAN, Fox, and PBS. She has been featured on hundreds of radio shows globally, as well, including for CNNRadio, Marketplace, NPR, BBC, and Canadian Programming. Her writing has been featured in the New York Times, Fortune, Newsday, Newsweek, the Guardian UK, and other publications.

Reviews

Goodreads review by David on October 06, 2022

Nomi Prins has a very clear idea of why inequality has become so severe. In Permanent Distortion, she lays the blame squarely on central banks, and in particular the Federal Reserve Bank in the USA (Fed). In patient and detailed summaries of events, the conclusion, especially in hindsight, is crysta......more

Goodreads review by Mark on December 11, 2022

From the documented accounts in this book, Nomi Prins demonstrates that the stock market has little relation to, and even less impact on, the real economy where most people live. Although left brain bean counters will be right at home with the almost overload of quantitative information, readers wit......more

Goodreads review by Ollie on May 12, 2023

Let the record show that reading the “Books and Arts” section of a newspaper can actually be worth your time. Not that arts and books aren’t important. I love books. I love art. But, who has the time? If I hadn’t read the recommendation for Nomi Prins’ book in the Nation, I would have been worse off......more

Goodreads review by Pedro on December 14, 2022

This is an immensely important book to understand money, the distribution of wealth, and the imbalances of our world, in the current dispensation. Namely, the advent of crypto is wonderfully and very solidly, established. I did find the writing a bit dry, but Nomi Prins was trying to establish facts......more

Goodreads review by Murilo on April 01, 2023

This book is a great example of how having knowledge, information, and data DOES NOT MEAN having critical analysis and the ability to interpret the world and its events. I wouldn’t say that her main point (actually, her only point which is rambled on for 250 pages in an exhaustive and repetitive man......more

Quotes

“Prins has done it again. In her newest book, Permanent Distortion, [she] takes a hard look at the conflicts and corruption in the global financial system and banks in particular. She provides a tour d’horizon of the past ten years. . . . This book is a must-read for anyone looking to understand what’s really behind the financial chaos of the past decade.”—James Rickards, author of Sold Out

“Prins breaks through the noise like no other historian. When I am looking to understand what’s really unfolding in the economy and finance, she’s where I turn. She’s from Wall Street and knows Washington—yet tells the truths that Main Street needs to hear.”—Robert Kiyosaki, bestselling author of Rich Dad Poor Dad

“Prins is one of the only people in the world qualified to explain one of the biggest stories in the world, if not the biggest: the manipulation of central banking policies around the world. . . . Permanent Distortion describes the gradual replacement of the real economy with a kind of permanent Ponzi scheme, fueled by cheap money and selective regulation, that rewards insiders and disburses riches by access, not merit.”—Matt Taibbi, award-winning author and investigative reporter

“Prins knows Wall Street. When she speaks, we should all listen. The story of Permanent Distortion exposes how corrupt our financial system is.”—Richard D. Wolff, professor of economics emeritus, University of Massachusetts Amherst, and founder of democracyatwork.info

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

“Prins, former Goldman Sachs big shot, has come out of the cold to let you in on the con—and the clear and present danger that the Magic Money junkies and their central-bank pushermen are pulling us into a strange counter-reality where fantastical finance creatures copulate with finance fairy dust, creating a cancerous economic monstrosity. Yet, it’s weirdly fun to fly through the crazed new world Prins reveals. Every chapter is a new freaky adventure. She even makes the words ‘Quantitative Easing’ and ‘crypto blockchain ETFs’ into a fascinating game show . . . where They win and you, Mr. and Ms. go-to-work schmuck, lose. Jump in, I guarantee you a helluva ride.”—Greg Palast, author of The Best Money Democracy Can Buy

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