JUST FINE

Pushback is as pushback does. And in the case of negative interest rates it needs to start with the men and women in the street.

The WSJ is reporting today: A clash Thursday between Japan’s central-bank chief and lawmakers highlighted the downside of negative interest rates: They are making the Japanese public feel negative.Bank of Japan Gov. Haruhiko Kuroda, who announced the nation’s first move into minus rates three weeks ago, found himself dodging a concerted attack in Parliament from lawmakers who charged the policy was victimizing consumers and sending a message of despair. Even a ruling-party member, Masahiro Ishida, called the policy hard to grasp saying.“It could have opposite effect of confusing the market,” he said.

Negative interest rates are are what we call the lemming syndrome. Central bankers are clueless and that cluelessness ruins peoples' lives. Who are these people, who appointed them, what real purpose do they serve and, more impotatant, whose interest?

Despair is a kind be term to describe the state these people have created for millions if not in fact billions. Politicians and bureaucrats will do nothing until forced to do something. And even then the odds are great they will do or create more harmful conditions. 

And if you''re an American planning on voting in the fall's upcoming election, don't be fooled. None of these candidates is going to change anything. Any real change depends on you.

As is most often the case, these culprits, per the WSJ, are  surprised: The criticism has come as a surprise to central-bank officials who thought their efforts to spark lending and faster economic growth would gain more public support. “Those who understand this policy are criticizing us, and those who do not are also criticizing us,” said one official this week.

The idea that the masses just can't understand their policies and that's the problem is about as false as a crockful full of synthetic flowers. The can't make their reckless policies understandable because the evidence is clear they don't understand them themselves.

In their minds stupidity and foolishness is a one-way street only the masses follow. It times for the masses, however, to speak up, demand the end of central banking. The globe will be just fine.