asterisk2a + r&d + confidence + middle   2

Beware the Minuses of Negative Interest Rates
Whether sub-zero interest rates actually work is open to debate, however. So says Richard Koo, the chief economist of the Nomura Research Institute. “In my view,” he writes, “the adoption of negative interest rates is an act of desperation born out of despair over the inability of quantitative easing and inflation targeting to produce the desired results.” The failure of the BOJ and the ECB to meet their inflation and growth goals is shared by the Federal Reserve and the Bank of England. None of these central banks understand that their textbook solutions don’t fit the real economy, Koo asserts. [...] And on a more practical level, why corporations sit on record hoards of cash (taxes aside). [<< macro prudential policy ] //&! “When no one is borrowing money, monetary policy is largely useless.” [...] Keynes was right and (Milton) Freidman was wrong. - & There is no Confidence Fairy //&! & & & &
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february 2016 by asterisk2a
Macroeconomics Causes of Inequality - YouTube
"consumption drives much of the economy" // free up disposable income >> free child care, health care, limit exploitation of financial illiterate people (% interest on pay day loans, overdraft charges, dispo), public services, social services, pension contribution by state (preventing poverty at old age), tax credits for low income and children and carers, free education and vocational education/continual education - enabling to move up the ladder, // min11 - secular stagnation post GFC compared to previous recessions in terms of real household demand (balance sheet recession, debt overhang, deleveraging (debt repayment), and lack of new issuance of consumer credit I guess, too + rising income equality! lower redistribution from top to bottom (fair taxation) reduces recycling of income (freed up by policy items above) into demand. // min 18 - top 5% society (luxury, vanity, status) takes over bottom 80% society in aggregate terms of consumption. Economy driven by WHOM?! Affluent!
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may 2015 by asterisk2a

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