NIRP Absurdity Soars to New Heights.
“Negative interest expense” or some such absurdity yet to be coined.
And the Bitter Irony?
Meanwhile, exports collapse at fastest rate since 2009.
A banking crisis radiating out from Europe?
And there’s a bitter irony.
The Bank of Japan’s desperate head fake.
Now the gravy train is rolling backwards.
“Europe is already surrounded by a geopolitical ring of fire.”
In two years, 37% of Japan’s yen-denominated wealth has gone up in smoke.