King World News

Core Insights - The article discusses Nomi Prins' latest book "PERMANENT DISTORTION," which explores the growing divide between financial markets and the real economy, leading to unprecedented crises [4][15][22] - Prins argues that the concept of "free markets" is no longer viable, and highlights the political power shifts and trade wars that are emerging as a result of this economic instability [15][16][22] Group 1: Economic Analysis - The book details how the 21st century has seen two major financial crises and numerous smaller ones, causing chaos and disruption across the global economy [4][15] - Prins introduces the term "Permanent Distortion" to describe the ongoing gap between a thriving financial sector and a struggling real economy, exacerbated by central bank policies [15][17] - The article emphasizes that the financial markets have been buoyed by excessive monetary flows, while the real economy has received minimal benefits from these policies [17] Group 2: Author's Background - Nomi Prins has extensive experience in the financial sector, having held senior positions at Goldman Sachs, Bear Stearns, Lehman Brothers, and Chase Manhattan Bank [7][8] - Disillusioned by unethical practices in banking, Prins transitioned to investigative journalism to expose how financial systems are manipulated for the benefit of a select few [8][12] - Her insights have made her a sought-after advisor for politicians and institutions, reflecting her authority on economic reform and financial systems [12][22] Group 3: Public Engagement - Prins has delivered keynote speeches at prestigious venues, including the Federal Reserve, IMF, and World Bank, showcasing her expertise on global economic issues [11][12] - She has appeared on numerous media platforms, including BBC, CNN, and CNBC, to discuss her findings and analyses [9][12] - The article mentions her active engagement in public discourse through writing, speaking engagements, and media appearances, contributing to her reputation as a leading authority on economic matters [9][12]