Escape from the Central Bank Trap
Central banks do not print growth. The financial crisis was much more than the result of an excess of risk. The same policies that created each subsequent bust are the ones that have been implemented in recent years. This book is about realistic solutions for the threat of zero-interest rates and excessive liquidity.
The United States needs to take the first step, defending sound money and a balanced budget, recovering the middle-class by focusing on increasing disposable income. The rest will follow. Our future should not be low growth and high debt. Cheap money becomes very expensive in the long run. There is an escape from the Central Bank Trap.
Daniel Lacalle is a PhD economist, chief investment officer at Tressis Gestión, and professor of global economy. Holds a PhD in economics, the certified international investment analyst title, a post graduate degree in IESE, and a master’s degree in economic investigation (UCV). He is a member of the advisory board of the Rafael del Pino Foundation, and professor at IE business school and the Institute of Stock Market Studies (IEB). He was ranked one of the Top 20 most influential economists in the world in 2016 (Richtopia).