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.”
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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