{"product_id":"financial-alchemy-in-crisis-the-great-liquidity-illusion-9780745328775","title":"Financial Alchemy In Crisis: The Great Liquidity Illusion","description":"\u003cp\u003e • Author(s): Anastasia Nesvetailova\u003cbr\u003e • Publisher: Pluto\u003cbr\u003e • Publisher Imprint: Pluto\u003cbr\u003e • Subject: Business Management\u003cbr\u003e • BISAC: Economics - General\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eIn July 2007, the combination of a seemingly unstoppable rise in house prices and bullish banks swimming in liquidity meant that almost anyone could get a mortgage in the UK or US. Little more than a month later the supply of credit dried up practically overnight, leaving the world wondering how bank liquidity could suddenly vanish. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eIn \u003ci\u003eFinancial Alchemy\u003c\/i\u003e, Anastasia Nesvetailova shows that this liquidity never actually existed. The rise of sophisticated financial instruments created what appeared to be an abundance of liquid funds but was in fact a credit pyramid. As soon as house prices stopped rising the reality was exposed. \u003cp\u003e\u003c\/p\u003eNesvetailova's bold and radical analysis explains why the credit crisis was an inevitable consequence of entrusting the world economy to financiers who believe that they can 'create' money and wealth. ","brand":"Pluto","offers":[{"title":"Paperback","offer_id":45091318857879,"sku":"9780745328775","price":1514.0,"currency_code":"INR","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9780745328775.webp?v=1769204198","url":"https:\/\/atlanticbooks.com\/products\/financial-alchemy-in-crisis-the-great-liquidity-illusion-9780745328775","provider":"Atlantic Books","version":"1.0","type":"link"}