The Folly Of Economists: Negative Interest Rates

The person nicknamed “Helicopter Ben”, because he said it would be easy to fight DEFLATION, even if it had to be done by throwing money out of helicopters, gave us ‘ZIRP.’ That means “zero interest rate policy.” Now he seems to be leaning toward ‘NIRP,’ “negative interest rate policy.” He is an economics professor now. We can only hope that his students do some outside reading, like Ludwig von Mises.

Jeff Cox and Katie Kramer of CNBC wrote this: