How the Financial Markets Abandoned the Real Economy Forever
FEATURING NOMI PRINS - As the economy continues to be touted as the number 1 issue for voters ahead of the November 8 election, the Federal Reserve this week plans to bump interest rates up once more. The logic of making it more expensive for people to borrow in order to tackle the fact that things are more expensive, is a bizarre one. Republicans running for office are hammering Democrats for spending taxpayer revenues on individual taxpayers claiming that is the source of high inflation. Democrats appear unable or unwilling to counter that record-breaking corporate profits are to blame.
Today we turn to acclaimed economist Nomi Prins who explains in her new book why the stock market’s rise and fall has so little to do with our personal finances. She writes, “The epic divide between finance and the real economy is what I have defined as a permanent distortion.”
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