by Mike ‘Mish’ Shedlock
Anyone with an ounce of common sense knows that negative interest rates cannot occur naturally, can only occur with government or central bank intervention, have nothing to do with free markets, and must fail eventually.
That’s two to four strikes against them, depending on how one counts duplicate ideas.
The question at hand is: Have negative interest rates backfired already?
The Wall Street Journal discusses the “early evidence” in Are Negative Rates Backfiring?