Stephen Kinsella: Ignore the jargon, banks are stressed out
Markets are fearful and, unless they’re mega-rich, investors are finding it hard to make money, writes Stephen Kinsella
It is very difficult to make real money these days. To own Japan’s ten-year bond will now cost you money, not make you money. Ditto for Switzerland. Germany, the US, and Britain could join Japan and Switzerland too in negative interest rate territory. This is very weird behaviour by historical standards.
Why is this happening? Commodity and equity markets are spiralling down, driven by investors’ concerns over the health of the global economy. A...
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