Monday, September 12, 2016

Case For -2% Rates, Banning Cash? 
James Grant* Blasts Lunatic Proposals
Mish Shedlock* analyzes the recent thoughts of James Grant* on lunatic proposals by Economist Ken Rogoff regarding negative interest rates & banning cash ..  Shedlock: "Grant says it’s as simple as politics. Rogoff wants the government to control your money. Clearly Rogoff wants government to have control of your money. But it’s not as simple as that. These guys are economic lunatics who actually believe negative interest rates will help the economy. I am sick of convoluted thinking by economically illiterate wizards with zero propensity to self assess and no understanding of history .. Negative Interest Rate Theory: Supposedly, getting people to buy things they do not need or want will create prosperity! .. A currency crisis awaits."
LINK HERE to the commentary

No comments: