If You Happen To Be The Only

We Normally Think If You're Going To Lend Someone Money, You Should Get Some Reward For Doing This. In Europe, It's A Tax!

The One Instrument That Has Relative Political Autonomy Is Monetary Policy. Central Banks Do Not Need To Go To Congress To Get Approval For An Interest Rate Hike.

The Theory Is That If You Take Interest Rates Negative, People Are Going To Say, "that's A Silly Game! I'm Not Going To Lend My Money To Governments Who Want Me To Pay Them. I Am Going To Go Into The Stock Market Where I Can Get Positive Returns!"

Once You Start Moving [market] Lower, Then You Trigger Of All Sorts Of Things. You Trigger People Who Have To Sell Because They're Over-levered. So They Sell Their Winners And Their Losers. They're Just Trying To Raise Cash. So, What You Then Get Is Spreading Malaise Throughout The Global Markets.

As We Spend More, And As Companies Are Pushed To Invest, They Say, "hey Wait A Minute! There's More Demand In The System. Let's Invest More."