ZIRP or ZAP? Will the Fed’s ‘Zero-Interest Rate Policy’ Return, and Will It Work?
Authored by Charles Hugh-Smith via oftwominds, Only the wealthy will benefit from ZIRP, and the benefits of “the wealth effect” and “trickle down” have not just diminished–they’re now negative. Welcome to the era of ZAP. Correspondent Scott suggested I consider the possibility that the powers that be will respond to a weakening of the economy by pushing …