From Bill Bonner, Chairman, Bonner & Partners:
A bird in the hand is worth two in the bush.
BALTIMORE – The Dow was more or less flat on Friday. After all the excitement early in the year, stock markets seemed to have settled down.
In our upcoming issue of The Bill Bonner Letter (due to hit inboxes Wednesday), we explore the strange territory of “NIRP” – negative-interest-rate policy.
About $7 trillion of sovereign bonds now yield less than nothing. Lenders give their money to governments… who swear up and down, no fingers crossed, that they’ll give them back less money sometime in the future.
Is that weird or what?
Into the Unknown
At least one reader didn’t think it was so odd.
“You pay someone to store your boat or even to park your car,” he declared.
“Why not pay someone to look out for your money?”