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The world’s central banks are running out of options…
Bloomberg reports a survey of 9,440 European businesses reveals negative interest rate policy (NIRP) has had little effect on spurring investment.
A staggering 84% of the companies said NIRP had no impact on their growth plans.
That’s up from 73% in 2015. The eurozone’s dealt with NIRP since mid-2014.
Longtime Daily readers know central banks have tried everything to goose economic growth since the Great Recession: zero percent interest rate policy (ZIRP)… quantitative easing (QE—aka “money printing”)… negative interest rate policy (NIRP).
It’s saddled the world with trillions in debt, inflated asset prices, and crushed yields… but it’s failed to produce meaningful economic growth.
That leaves “helicopter money” as the bankers’ final monetary frontier. It may not be long before you get a $10,000 check, courtesy of your local central bank. And while that might sound like an exciting prospect at first… good luck to all on fixed incomes when price inflation skyrockets.
Bottom line: Keep your investments rigged for “maximum defense.” Make sure you own appropriate allocations of gold and cash… be selective when taking new stock positions… and follow PBRG’s risk-management protocol to the letter.
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