How the Financial Markets Abandoned the Real Economy Forever

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 have 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.”

 

 

 Rising Up with Sonali is a radio and television show that brings progressive news coverage rooted in gender and racial justice to a wide audience. Rising Up With Sonali was built on the foundation of Sonali Kolhatkar's earlier show, Uprising, which became the longest-running drive-time radio show on KPFK in Los Angeles hosted by a woman. RUS airs on Free Speech TV every weekday.

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corporate profits Democrats Economy Federal Reserve Finances financial market Inflation Republicans taxpayers