BLUFF

The accepted narrative of the global financial crisis of 2007-09 is that the cen
tral banks saved us from an inferno caused by Wall Street greed. While there is
no doubt they did save us, did the firefighters actually cause the fire? The Ban
k of England and US Federal Reserve have used the bait of low interest rates tog
ether with the bite of inflation in their quest for economic growth. Bluff revea
ls how these tactics have failed and instead left us with an unhealthy mix of de
bt, alternating booms in real estate and equity markets and laggard wages.



In
an incisive critique, Bluff makes the case for a much-needed public debate on t
he role of the all-powerful central banks; an acknowledgment of the damage cause
d by flawed policy decisions; and a vital reassessment of the social contract be
tween the people and their central bank.