by Mike ‘Mish’ Shedlock
The title of this article come from a comment Saxo Bank CIO and chief economist Steen Jakobsen said in his latest email: “We have no growth, no reform, no productivity, no inflation, and low-to-lower policy rates from central banks across the board.”
Steen labeled this the “New Nothingness”
What follows is a guest post by Steen Jakobsen. His title is ….
Steen’s Chronicle: The Narrative is Changing: Steen Jakobsen
At the moment, it seems as if policymakers and political elites have begun to depart from the “new nothingness” consensus with the recent G20 summit in Shanghai seeing a promise not to manipulate exchange rates and the International Monetary Fund’s annual meeting in Washington even playing host to an attack on low interest rates.