FINANCIAL ALCHEMY IN CRISIS: THE GREAT LIQUIDITY ILLUSION

Book ID/图书代码： 10953010B39193

English Summary/英文概要： In 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. In Financial Alchemy, 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. Nesvetailova’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.

Chinese Summary/中文概要： 2007年7月，看似涨不停的房产价格和银行资产流动性看涨意味着在英国或美国几乎所有人可以获得抵押贷款。然而之后一个月不到，信贷供给几乎在一夜之间枯竭，留给全世界去想破脑袋为何银行流动资产会突然消失。在《金融炼金术》中，阿纳斯塔西•纳斯韦塔罗瓦认为，这种流动资产事实上未曾存在过。复杂金融工具的兴起创造了看似充足的流动资金，但其实是用信用堆积的金字塔。一旦房价停止上涨，事实将被揭穿。纳斯韦塔罗瓦大胆而激进地分析解释了信贷危机是将世界经济托付给那些自信可以“创造”金钱和财务的金融家们的必然后果。(兼职翻译-JDM)

Awards/获奖情况：

About the Author/作者介绍： 阿纳斯塔西•纳斯韦塔罗瓦是《脆弱的金融》、《债务、投机和全球信贷时代危机》（2007）的作者。同时她是《新世纪》杂志(2006)《全球金融》栏目、《国际政治经济》、《读者》(2007)的合作编辑之一，也是多篇关于金融政治经济学方面学术文章和媒体文章的纂稿人。
Anastasia Nesvetailova is the author of Fragile Finance: Debt, Speculation and Crisis in the Age of Global Credit (2007). She is a co-editor of Global Finance in the New Century (2006); International Political Economy: A Reader (2007) and author of academic and media articles on finance and political economy.

Format:电子手稿

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