You know the world is turning to shit when a retired baseball star can (relatively eloquently) explain the sheer folly of negative interest rates.
In a torrent of tweets, the Cuban-American "Bash Brother" started to rage after BoJ's NIRP decision...
Negative interest rates in Japan is blowing my mind
— Jose Canseco (@JoseCanseco) February 4, 2016
Then questioned their sanity...
Who is advising Japan? Forcing banks to lend all ¥ will not get 2% inflation. It creates loanees market with even lower rates. Dumb move
— Jose Canseco (@JoseCanseco) February 4, 2016
Bank of Japan should call them willie wonka bonds "YOU GET NOTHING. yOU LOSE!"
— Jose Canseco (@JoseCanseco) February 4, 2016
Nothing indeed...
And always interested in sensationalism, Bloomberg's Joe Weisenthal had "value" explained to him by the former baseball star...
Ironic that his tell-all book was called "Juiced" in an age of "Wild Times" in geopolitcs, monetary policy on "'Roids," and "How Central Bankers Got Big."