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‘What in the world is going on’ has now become a question of real pertinence, instead of just a cliché for common bewilderment. As COVID-19 panic grips the world, ripple effects are crashing markets and effectively canceling economies across the globe, scrawling the writing on the wall for something big. Even the beloved Walt Disney … Read more
U.S. President Donald Trump spoke at the World Economic Forum in Davos, Switzerland Tuesday saying the U.S. and other nations are “forced to compete … with nations that are getting negative rates, something very new.” Trump took direct shots at the U.S. Federal Reserve, claiming they’ve not lowered rates quickly enough. The harsh words echo … Read more
Global debt records were broken in 2019, but that likely won’t be the end of such ominous economic milestones, the Institute of International Finance (IIF) predicts. The number could reach $257 trillion sometime in Q1 2020, according to a recent report by the group. Economies worldwide are struggling to address pressing issues such as stimulation … Read more
European Central Bank (ECB) executive board nominee and member of the German Council of Economic Experts, Isabel Schnabel, recently remarked at a European Parliament hearing that “This scapegoating [of the ECB] is extremely dangerous: it may damage the trust in the euro.” Schnabel was speaking out in defense of negative deposit rates being employed as … Read more
Negative and zero interest rate policy (NIRP and ZIRP) are becoming a new global norm. Endless printing of paper money is said to make economies stronger, while everyday individuals are seeing their savings worth less and less. These policies were traditionally viewed as last ditch, temporary measures to save economies, but are now increasingly being … Read more
Cash shortages, bank closures and ATMs running out of funds seems to be the new norm for many countries, and recently increased capital controls in Argentina are further testament to this unsettling trend. Sunday’s election of president Alberto Fernández has resulted in Argentine account holders being limited to USD purchases of $200 via bank account … Read more
In a new report by the International Monetary Fund (IMF) entitled “Global Financial Stability Report: Lower for Longer,” the group gives an overview of the current debt-ridden and precarious state of affairs in global economics. Not lost on some economists, however, is the irony that these modern realities are the direct result of policies historically … Read more
In a recent tweet, U.S. president Donald Trump delved into an explosive, all-caps-loaded mini-rant about the necessity of getting “interest rates down to ZERO, or less.” The bombastic politician stressed the need for America to refinance its debt, trailing off with some superficially conservative speak about the U.S. and its “great currency, power, and balance … Read more
With the recent Union Bank of Switzerland (UBS) announcement that even more customers will be charged to hold money in their banks, people are scrambling to find ways to preserve their wealth, while USB and others scramble to dam the losses resulting from national negative interest rate policy (NIRP). The relatively recent experiments with NIRP … Read more
