Debt and Delusion: Central Bank Follies That Threaten Economic Disaster

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9780140277524: Debt and Delusion: Central Bank Follies That Threaten Economic Disaster

There is an unexploded bomb in the global financial system, threatening to bring the greatest disruption to the lives of people since the Depression on the 1930s. This potential explosion has been created by dereliction of duty by the world's largest central banks, which have helped to create an unsustainable illusion of personal wealth and national prosperity, exposing the public to uninsurable risks in the process. This volume looks at how this economic timebomb has been created by unchecked credit expansion and the potential havoc it could wreak.

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From the Publisher:

WorldMetaView Press specializes in the kind of books you’re not likely to find in a typical bookstore. Our authors are excellent writers. They are recognized experts in their fields. And, most important of all, they are independent thinkers -- a quality that is all too rare in this time of political correctness, economic orthodoxies, and groupthink.

That’s why we’re pleased to bring back into print Dr. Peter Warburton’s classic, Debt and Delusion. Peter has updated the book with a new Preface and fresh charts in the Appendix. The book’s index has also been greatly improved, making it easier to find what you’re looking for. The most visible change, however, is the gold stamping, leather-like cover, and fine endpapers that make this edition quite suitable as a gift.

One word of warning: The opening pages will scare the hell out of you. But, while he may be a voice crying in the wilderness, Peter is more like the Apollo-cursed Cassandra, whose prophecies were always accurate but never believed.

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Table of Contents
List of Figures
Preface
Acknowledgements
Chapter 1 -- Clearing of the Mist
Chapter 2 -- Inflation: Public Enemy Number One
Chapter 3 -- The Pied Pipers of Zurich
Chapter 4 -- Banks Reproved and Re-invented
Chapter 5 -- The Rise and Rise of the Financial Markets
Chapter 6 -- Throwing Caution to the Wind
Chapter 7 -- Risk Markets and the Paradox of Stability
Chapter 8 -- The Illusion of Unlimited Savings
Chapter 9 -- The Bloated Bond Markets
Chapter 10 -- The Erosion of Credit Quality
Chapter 11 -- The Phoney Auction of Private Savings
Chapter 12 -- The Separation of Financial Value from Economic Reality
Chapter 13 -- Diminishing and Vanishing Returns to Debt
Chapter 14 -- Confronting Economic Reality
Chapter 15 -- Borrowed Time
Appendices
Glossary
Bibliography
Index

About the Author:

Peter Warburton is one of the UK’s most respected financial commentators and a past winner of economic forecasting awards. He has worked in London as an economic researcher, forecaster, lecturer, adviser, and consultant since 1975. He is currently a director of Rhombus Research Ltd, an independent research company, and of Economic Perspectives Ltd, a consultancy, and is economic adviser to Ruffer LLP. He remains a member of the IEA’s Shadow Monetary Policy Committee and lectures occasionally at Cardiff and Edinburgh Business Schools.

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