{"product_id":"9780745328775","title":"Financial Alchemy in Crisis: The Great Liquidity Illusion","description":"\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\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.\u003c\/p\u003e\u003cp\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. \u003cbr\u003e\u003c\/p\u003e","brand":"Pluto Press","offers":[{"title":"Default Title","offer_id":47025457922288,"sku":"9780745328775","price":35.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9780745328775_p0.jpg?v=1763640108","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9780745328775","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}