By Doug Wakefield of best minds inc.
The World Is Defenseless Against The Next Financial Crisis, Warns BIS, The Telegraph, June 28 ‘15 “Interest rates have never been so low for so long. They are low in nominal and real (inflation-adjusted) terms and low against any benchmark. 1 Between December 2014 and end-May 2015, on average around $2 trillion in global long-term sovereign debt, much of it issued by euro area sovereigns, was trading at negative yields…. Such yields are unprecedented. Policy rates are even lower than at the peak of the Great Financial Crisis in both nominal and real terms. And in real terms they have now been negative for even longer than during the Great Inflation of the 1970s….