Negative Interest Rates are the Price We Pay for De-Civilization

By Jeff Deist

Do central bankers really think negative interest rates are rational?

Calculation Error,” which Bloomberg terminals sometimes display(1), is an apt metaphor for the current state of central bank policy. Both Europe and Asia are now awash in $13 trillion worth of negative-yielding sovereign and corporate bonds, and Alan Greenspan suggests negative interest rates soon will arrive in the US. Despite claims by both Mr. Trump and Fed Chair Jerome Powell concerning the health of the Ame...