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Permanent Distortion
Permanent Distortion

OUT OCTOBER 11, 2022

Permanent Distortion

How Financial Markets Abandoned the Real Economy Forever

This is the untold story of the ever-growing divide between the financial markets and the real economy, and the unprecedented crises it has caused. Discover how “free markets” are vanishing, what power shift is bringing in a new world order, why trade wars have only just begun, and the real driver of social unrest.

About Nomi

Nomi Prins is a geopolitical financial expert and investigative journalist who sheds light on the dark corners of the global economy, while empowering people with the knowledge they need to make informed decisions.

Speaking Engagements

FEATURED VIDEO:

Squawk Box Europe: Markets have been inflated by central bank policy. Check out Nomi on CNBC Europe.

"At this point, obdurate inflation, forcing rates up to 4% and beyond, definitely isn’t priced in. At the macroeconomic level, the most painful surprise over the second half of this year would be for inflation to stay sticky." https://www.bloomberg.com/opinion/articles/2022-06-30/markets-see-a-pyrrhic-inflation-victory-as-growth-fears-dominate

U.S. has a more problematic & stickier inflation problem than other nations, since more of the price pressure stems from services rather than physical goods. That's why the Fed will likely go further in hiking rates into restrictive area than other central banks: @economics

"The panelists questioned whether their economies would return to the environment of persistently low inflation that they observed prior to the pandemic.

Lagarde said she doesn’t think 'that we are going to go back to that environment of low inflation.'" https://finance.yahoo.com/news/powell-says-us-economy-strong-132627093.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

"In addition to undermining socio-economic wellbeing and fueling unsettling financial instability, such a mis-step would erode the institutional credibility that is so crucial for future policy... as if Fed credibility has not been damaged already."
https://www.ft.com/content/23c3a3a7-b2da-412c-8050-bdad986fde21

“I’m expecting growth to slow this year, quite a bit, relative to what we had last year, and actually slow to probably one to one and a half percent growth for the year. But that’s not a recession, it’s a slowdown that we need to see in the economy...” https://www.wsj.com/articles/feds-williams-sees-another-large-rate-rise-at-july-meeting-as-possible-11656421930?st=n6eshvbjfvlduw7&reflink=desktopwebshare_twitter

"A stronger dollar tends to depress global trade growth... Since the purchasing power of non-US currencies declines when the dollar strengthens, an appreciation of the US currency tends to make the world poorer and less engaged in trade."
https://www.ft.com/content/3e8737a0-b4c1-4e7c-b93f-f646e3c699dd

"A much higher proportion of households among the poor will experience a material decrease in income when the unemployment rate increases... this increase in income inequality persists long after recessions end." https://www.bis.org/publ/othp50.pdf via @BIS_org

"We are moving toward an economy with higher interest rates, flat consumer spending, depleted personal savings, higher unemployment, and potentially a recession. And none of it may have any effect on inflation... mainly caused by random supply crunches." https://prospect.org/economy/the-fed-is-crushing-investment-right-when-we-need-it/

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PRESS

“[An] unflinching, troubling exposé … well worth a close read by anyone looking to understand the roots of the last crash and prepare for the next.”
Publishers Weekly

“A somber, important warning that’s likely to cause readers to wonder about the safety of their assets, if not fear for the near-term future.”
Kirkus Reviews

“Prins offers practical and tactical solutions for preventing the downfall of the current over-inflated economy. This thoroughly researched, high-level view of central-bank operations would be interesting to those in the finance, banking, and economic fields.”
Booklist