Market bubbles don’t grow out of thin air.They have a solid basis in reality,but a reality distorted by a misconception.
The Greatest Bubble in History
On June 5, 2014, following in the footsteps of the Scandinavian Central Banks, the European Central Bank (ECB) became the first major monetary authority to introduce negative interest rates, smashing the limits of the almighty Zero Interest Rate Policy (ZIRP) and perpetuating the monetary snowball inflating the greatest financial bubble in history.
My head was spinning. A reduction from zero to −0.1 percent was arguably small, but for me was a game-changer, a quantum leap from the years of controversial unconventional monetary policies of zero ...