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Escape from the Central Bank Trap: How to Escape From the $20 Trillion Monetary Expansion Unharmed
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.
- GenresEconomics
220 pages, Kindle Edition
Published April 11, 2017
22 people are currently reading
142 people want to read
About the author
Daniel Lacalle
32 books65 followersDaniel Lacalle is a PhD in Economy and fund manager. He holds the CIIA financial analyst title, with a post graduate degree in IESE and a master’s degree in economic investigation (UCV).Member of the advisory board of the Rafael del Pino foundation.
Commissioner of the Community of Madrid in London.
Professor at IE business school, IEB and UNED.
Ranked Top 20 most influential economist in the world 2016 (Richtopia).
Mr Lacalle has more than 24 years of experience in the energy and finance sectors, including experience in North Africa, Latin America and the Middle East.
Mr Lacalle is currently a fund manager overseeing equities, bonds and commodities. He was voted Top 3 Generalist and Number 1 Pan-European Buyside Individual in Oil & Gas in Thomson Reuters’ Extel Survey in 2011, the leading survey among companies and financial institutions.
Author of the best-selling books “Life In The Financial Markets” (Wiley, 2014) and “The Energy World Is Flat” (Wiley, 2014, with Diego Parrilla), translated to Portuguese and Chinese, as well as “Nosotros los Mercados”, “La Madre de Todas las Batallas”, “Viaje a la Libertad Economica”, “Hablando se Entiende la Gente” and “Acabemos con el Paro” (Deusto), with more than 50,000 copies sold, and regular collaborator with CNBC, El Español, El Mundo, The Commentator, and The Wall Street Journal. Mr Lacalle is also a lecturer at the London School of Economics, UNED University and IE Business School.
Commissioner of the Community of Madrid in London.
Professor at IE business school, IEB and UNED.
Ranked Top 20 most influential economist in the world 2016 (Richtopia).
Mr Lacalle has more than 24 years of experience in the energy and finance sectors, including experience in North Africa, Latin America and the Middle East.
Mr Lacalle is currently a fund manager overseeing equities, bonds and commodities. He was voted Top 3 Generalist and Number 1 Pan-European Buyside Individual in Oil & Gas in Thomson Reuters’ Extel Survey in 2011, the leading survey among companies and financial institutions.
Author of the best-selling books “Life In The Financial Markets” (Wiley, 2014) and “The Energy World Is Flat” (Wiley, 2014, with Diego Parrilla), translated to Portuguese and Chinese, as well as “Nosotros los Mercados”, “La Madre de Todas las Batallas”, “Viaje a la Libertad Economica”, “Hablando se Entiende la Gente” and “Acabemos con el Paro” (Deusto), with more than 50,000 copies sold, and regular collaborator with CNBC, El Español, El Mundo, The Commentator, and The Wall Street Journal. Mr Lacalle is also a lecturer at the London School of Economics, UNED University and IE Business School.
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Displaying 1 - 5 of 5 reviews
May 29, 2021
One of the first Economic books that I have read so it was a challenge with a lot of unfamiliarity; although not clueless.
I do not agree with everything from this book. If we audit the Federal Reserve or CB tomorrow, will we have a CB next year? I doubt it.
I learned a lot from the book that better helps me understand financial and economic crisis.
This book validates my idea to hedge CB with crypto assets. This book also helped my understand Trumps actions to improve the economy in his first term. I understand why he did historic tax cuts to increase disposable income and business flexibly, which allowed the economy to grow and bring jobs back that left because of taxation. Technology creates jobs not destroy them, statistically. That is crazy. We all think the opposite. So... what causes unemployment... taxation. And they don’t say this.
I do not agree with everything from this book. If we audit the Federal Reserve or CB tomorrow, will we have a CB next year? I doubt it.
I learned a lot from the book that better helps me understand financial and economic crisis.
This book validates my idea to hedge CB with crypto assets. This book also helped my understand Trumps actions to improve the economy in his first term. I understand why he did historic tax cuts to increase disposable income and business flexibly, which allowed the economy to grow and bring jobs back that left because of taxation. Technology creates jobs not destroy them, statistically. That is crazy. We all think the opposite. So... what causes unemployment... taxation. And they don’t say this.
January 20, 2019
Punto de vista muy interesante sobre la trampa de la liquidez y los problemas de las políticas de expansión monetaria de los bancos centrales. Le quito dos estrellas porque Lacalle tiene un tono bastante bronco y faltón que no me convence y porque en mi opinión le falta un punto de rigor científico (por ejemplo, al citar).
December 21, 2018
Entre cosas que todo el mundo sabe, exculpar a banca, grandes fortunas, grandes empresas y soluciones ultraliberales... El libro no hay por donde cogerlo. Loa a la expectación denostando la economía real. Dios nos libre de esta gente.
October 29, 2020
"La gran trampa" es un alegato contra las políticas llevadas a cabo por los bancos centrales en las últimas décadas. Lacalle explica por qué estas intervenciones son las causantes de las últimas crisis, generando burbujas que los gobiernos intentan atajar mediante más crédito, y por ende, generando o aumentando más burbujas de deuda.
Es un libro mordaz de conclusiones claras y precisas, aportando datos que prueban por qué las políticas han sido equivocadas e ineficaces para solucionar los problemas actuales, tanto en la Unión Europea, Estados Unidos y Japón.
El motivo por el que le doy 4/5 es por percibir cierto tono de soberbia al leerlo. Resta credibilidad y rigor a la obra. Además, las ideas podrían haberse sintetizado un poquito más, ya que en algunos casos se repiten los mismos conceptos. Pese a todo esto, lo recomiendo
Es un libro mordaz de conclusiones claras y precisas, aportando datos que prueban por qué las políticas han sido equivocadas e ineficaces para solucionar los problemas actuales, tanto en la Unión Europea, Estados Unidos y Japón.
El motivo por el que le doy 4/5 es por percibir cierto tono de soberbia al leerlo. Resta credibilidad y rigor a la obra. Además, las ideas podrían haberse sintetizado un poquito más, ya que en algunos casos se repiten los mismos conceptos. Pese a todo esto, lo recomiendo
June 17, 2017
This is a very important book to understand the thinking behind the majority of current central bank policies, how flawed they are and how central banks with their "expansionary" strategies are behind the cyclical crises. The diagnostic is excellent and to the point, but Daniel Lacalle goes further and he makes a sound proposal on how to escape the central bank trap. The last chapter is intended for investors - how to navigate the current economic environment - and just this chapter alone is worth the whole book. Highly recommended!
Displaying 1 - 5 of 5 reviews