Europeans have so much faith in big government that they're betting against the free market, enabling countries to be paid to borrow. You heard me right. 30% of Eurozone governmental debt is at a NEGATIVE interest rate. As in it costs you something to own it and there is no return on investment at all.
What is astounding is that Europeans distrust banks and brokerage houses so much, that they are willing to pay their governments to safegaurd their money, even if that means their money loses value. I guess it loses slower than they expect to lose it in a bank account, but come on, even the cowardly servant in the Parable of the Talents knew enough to bury his one coin. You get a better rate of return converting your cash to metal and burying it in the ground,m than you do from these governments in the Eurozone, so what is really going on?
I'm Outside the Autistic Asylum!
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The crazy stuff I can't post anyplace else
Introduction to Wonko the Sane and Outside the Asylum, which this blog is named after.
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