Where Negative Interest Rates Will Lead Us…”The crying shame is that it will not work and will cause great harm to hundreds of millions of people.”

Thursday, February 25, 2016
By Paul Martin

by Patrick Barron via The Mises Institute,
ZeroHedge.com
02/25/2016

The real pity is that the busts and crackups could all have been avoided if central bankers recognized that falling prices eventually create the conditions for a normal economic revival. Deflation is not a death spiral as the Keynesians believe. Nevertheless, expect more central banks to follow the early leaders — Switzerland, Sweden, Denmark, and even the European Central Bank itself — into negative interest rate territory. The crying shame is that it will not work and will cause great harm to hundreds of millions of people.

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