With their eyes wide open, central banks, in their fight against the consequences of the global financial crisis and debt crisis, have fallen into the zero interest rate trap. While the euro area is deeply stuck in this quagmire, the US has only recently executed a monetary policy U-turn and is now sliding ineluctably into the same trap.
The Zero Interest Trap discusses questions such as, are there any paths at all by which politicians, investors, and society can get out of the zero interest rate trap unscathed? What are the economic, political, and social consequences that citizens and investors should prepared for? Was President Donald Trump well-advised to have called for zero or even negative interest rates?
For the first time, this thorough analysis elucidates all economic and social consequences of interest rates that are at or even below zero. Goose bumps guaranteed, because there are zombies afoot in the economy and in society at large, and they are liable to jump right out at you when you read The Zero Interest Trap.
