Escape from the Central Bank Trap: How to Escape From the $20 Trillion Monetary Expansion Unharmed, Second Edition
“Lacalle is one of the leading next generation economists who can simplify the complex. His teachings come from a market practitioner’s perspective. This book is about the economic truth.” —Keith R. McCullough, Chief Executive Officer, Hedgeye Risk Management
“A penetrating framework for understanding the co-dependencies among monetary policy, the economy and the financial markets. Lacalle provides us with a road map that anyone who cares about long term economic health can grab hold of.” —Michael Purves, Chief Global Strategist, WEEDEN & CO
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.