Consumers who are deep in debt may have become excited about recent talk of negative interest rates. If they were to materialise, debts would carry no cost and would decrease in value the longer they were held! But these negative rates, where they have already occurred, do not apply to consumer debt. They circulate at another level – between banks and central banks. All the same, negative interest rates are truly unprecedented. Indeed they defy the logic of a capitalist world.
Details / PDF:
The full-text PDF of this article can be purchased from Informit.