NIRP is systematically rotting out basic brain functionality.
Oh, it’s here alright.
Bank stocks crushed by negative interest rates, broader market goes nowhere in 4 years despite BOJ’s equity purchases.
Apocalypse not now.
Sales of homes of all types plunged 31% year-on-year, sales of new homes crashed 39%, and the number of mortgages written collapsed 65%
Draghi’s shenanigans get hilarious, just months before his term ends.
NPLs remain dangerously to catastrophically high in Italy, Greece, Portugal, and Cyprus.
The benefit of NIRP: There’s hell to pay – even the ECB admits it.
Just bumping along the bottom, from hopeless to hope and back to hopeless.
Straggler behind the Fed and the ECB gets the drift.