by Lee Adler
Wall Street Examiner
This should be news to no one. The Bank of Japan dropped interest rates below 1% more than 20 years ago and to zero in 1999 and their CPI has been zero ever since. The US has had ZIRP and very low inflation since 2009. Central banks ignorantly and willfully ignore these facts. Instead, they impose policies that foster wild speculation and financial engineering schemes. These policies benefit no one but speculators, hedge fund managers, and corporate executives.