BOHANON & STYRING: Upshots of Europe’s surreal negative rates
“Negative real interest rates are impossible.” That’s econ-speak for the simple idea that you have to be nuts to pay someone to borrow money from you. Styring would have to be smoking a controlled substance to lend Bohanon $100 on his promise to pay back $99.75 a year from now. He’s better off just stashing […]