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The Ground-Breaking Book by

Peter Warburton

About Debt and Delusion

In 1999, Peter Warburton published a book, Debt and Delusion. Back then there was a small minority who understood that debt has significance for real output and employment.

The book had three big themes:

  • The over-accumulation of debt – by individuals, businesses and governments – amounted to the theft of future prosperity.

  • Financial innovation had thrown a veil of complexity over economic life, obscuring the dangers of mass-marketed financial products.

  • Central banks were implicated in both developments, declaring debt to be irrelevant for sustainable economic growth and promoting financial innovation at all costs.

Where are we now?

Living in that diminished future. Locked into an endless process of consumer compensation and financial penalties. While central banks intervene ever more deeply in financial markets and the economy, with ever lessening impact.

What are the lessons that should have been learned from the global financial crisis? What are the implications for wealth preservation today?. 

In 2016, Peter Warburton gave an exclusive interview to Money Makers revisiting Debt and Delusion. 

 

REVIEWS

"The book is the most cogent and concise treatment on the subject of the monetary and financial structure of modern times (through the end of the 1990's) that I have seen." 

"Do yourself a favor and do whatever you need to do to get your hands on this book. It was published in 1998, but remains the best treatment of the macroeconomic implications of debt."

Amazon - RobCALIF12, July 2012

"So when should we expect a great crash on Wall Street - or at least the cusp from a bull to a bear market - and on all other stock markets which will surely follow its lead? It is one of a number of virtues of this persuasive, important and indeed brave, if in places difficult, book that Peter Warburton offers his own answer to that key question."

 

About

Economic Perspectives

Economic Perspectives is a trusted provider of global macroeconomic and financial research with clients in North America, Asia and the UK.

Economic Perspectives' research weaves complex and diverse information into coherent macro narratives, providing clear analysis and original market insights for global investors. Our clients benefit from our long experience in connecting economic developments with the credit and financial market outlook.

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