Is the whole theory of secular stagnation a hoax?

The Bank for International Settlements (BIS) says the entire strategy of stimulus by global central banks is based on a false premise.  The world's monetary watchdog has thrown down the gauntlet. It has challenged the twin assumptions of secular stagnation and the global savings glut that have possessed - some would say corrupted - the Western economic elites.
Read more at the UK Telegraph Read More......