[Newsbot]

Title: Sweden cuts rates below zero and starts QE
Category: Business
Posted By: martin14
Date: 2015-02-12 09:51:21

[martin14]

For those of you who thought interest rates couldnt go any lower......

[andyt]

Europe is late to the table. Now they're seeing how it's worked in the US, while their austerity hasn't, they want in too. Let's hope it works for them, so we can ride everybody's coattails.

[BartSimpson]

Andy, I'm not sure how you can call what the US is doing 'austerity' given that our spending has increased in every single year of this century.

[Jabberwalker]

So, does that mean that the Swedish government is going to pay YOU interest to take their newly printed money?

Hunh?

??

[martin14]

Jabberwalker Jabberwalker:

So, does that mean that the Swedish government is going to pay YOU interest to take their newly printed money?

Hunh?

??

uhhhh no.

Sorry.

[OnTheIce]

BartSimpson BartSimpson:

Andy, I'm not sure how you can call what the US is doing 'austerity' given that our spending has increased in every single year of this century.

He's a theatre major.

Math isn't his thing.

[DrCaleb]

Jabberwalker Jabberwalker:

So, does that mean that the Swedish government is going to pay YOU interest to take their newly printed money?

Hunh?

??

No, they charge you for putting/keeping money in the banks, just like Switzerland did recently.

[Jabberwalker]

That's even stupider.

Then again, those "service charges" ...

[Xort]

Still selling bonds rather than creating their own currency.

[BartSimpson]

Xort Xort:

Still selling bonds rather than creating their own currency.

I've created my own currency.

It's indexed to lead so when I get a call from some scammer pretending to be a collection agency I can pay them with it.

[martin14]

Jabberwalker Jabberwalker:

That's even stupider.

Then again, those "service charges" ...

Not counting service charges, the interest rate is negative.

[DrCaleb]

martin14 martin14:

Jabberwalker Jabberwalker:

That's even stupider.

Then again, those "service charges" ...

Not counting service charges, the interest rate is negative.

But only for banks borrowing or depositing in the central bank. Customers will still have to pay prime +x.

[Xort]

BartSimpson BartSimpson:

I've created my own currency.

It's indexed to lead so when I get a call from some scammer pretending to be a collection agency I can pay them with it.

You could have index it against your labour.

[andyt]

BartSimpson BartSimpson:

Andy, I'm not sure how you can call what the US is doing 'austerity' given that our spending has increased in every single year of this century.

It's not. that's the point, and why your economy is now picking up.

Here's what I wrote:

andyt andyt:

Europe is late to the table. Now they're seeing how it's worked in the US, while their austerity hasn't, they want in too. Let's hope it works for them, so we can ride everybody's coattails.

How you can get me saying the US was practicing austerity from that is beyond me. The topic at hand is quantitative easing - that's the opposite of austerity.