George Orwell is rolling over in his fucking grave. Jose from Lima, who happens to be a director at the IMF, said with a very straight face that negative interest rates, aka the shit that mugs old people, is a net positive for the economy. He begs your pardon and asks you to see the ‘broader picture’ and to not get hamstrung by the societal muck of ‘savers’ and to BEHOLD the new world order and their grande scheme to GET PAID FOR BORROWING MONEY.
The greater good, gents. Negative rates creates jobs, builds businesses, pays for your daughter’s birth.
Seriously, what the fuck is going on here?
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He’s drunk
No, he’s right. After all, if interest rates aren’t perpetually lowered, then how will asset prices keep rising?
How will stock buybacks be funded? Earnings?
Most importantly, without the rich getting richer, how will they create jobs? The more money that gets funnelled to the lower and middle classes, then the less money is avaialbel to create jobs. Just think how many fewer yachts and corporate jets will get built (jobs!) without perpetuallly fallign interest rates.
LOL, they just have to figure out how to create jobs without paying the lower and middle classes. Oh, wait, they do have those. They’re “internships.” They can have yacht building and corporate jet building internships without pay.
Who does Jose from Lima expect to pay down all the debt incurred through negative rates?
“Seriously, what the fuck is going on here?” I’ll answer that. What is going is the prelude to the most severe deflationary asset spiral in human history.
Far deeper than that. When all of this comes to light, and it will, blood in the streets.