Face to Face with Bernard Hickey: What happens if interest rates go to zero?
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Finance Minister Bill English attended meetings at the International Monetary Fund (IMF) and World Bank next week, and returned reaffirming the Government's commitment to reducing public debt under 20% of GDP. He thinks that is the most prudent strategy in these uncertain economic times. Meanwhile the rest of the world is struggling with stagnant growth despite years of record low interest rates. In some countries interest rates are now even negative. Overseas Governments are starting to ask what action they can take in a zero interest rate world, and the IMF is advising them to spend more. In this Face to Face Geoff talks with Bernard Hickey about these issues and what options New Zealand has to stimulate the economy as interest rates edge towards zero.
Comments
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Well, for Pete's sake, get outside the box.
Amend YOUR Act on the BNZ to reflect the Bank of Canada Act, and then ACT like the BoC did from '35 to '75.
Fund everything without debt.
Guvs have sovereign power over all 'money'.
Why should they borrow from anybody ?
Come ON N.Z. -
I would really like to hear you guys explain fractional reserve lending and money creation, two good minds that could clarify some of the myths and facts of this subject ;)
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Glass-Steagall. LarouchePAC. Economics should be compulsory in schools like English. Call it Bernard, the entire financial system is a ponzi and a fraud. Did someone say bail in?
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So you want to increase public debt massively by building houses which will increase private debt and you think this will help us?.......the world economy is in a slump because everyone is in debt to their eye balls......adding more private and public debt doesn't help long term....its just another short term fix with long term consequences........give more alcohol to a alcoholic in the hopes that he will sober up....its madness
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