Crazy Libertas is not so crazy any more.
just earlier today we, rhetorically, asked a logical - in as much as nothing is logical in the new normal - question: "Who will offer the first negative rate mortgage". Little did we know that just minutes after our tweet, we would learn that at least one place is already paying homeowners to take out a mortgage. That's right - the negative rate mortgage is now a reality. Thanks of Mario Draghi's generosity with "other generations' slavery", and following 3 consecutive rate cuts by the Danish Central Bank, a local bank - Nordea Credit - is now offering a mortgage with a negative interest rate!
The real world economy
What does this tell us about the real world economy as opposed to the spin that is being fed by central banks and governments. And in another article by Reuters the other bellweather indicator of economic activity the Baltic Dry Sea index is at its lowest level of 29 years http://www.reuters.com/article/2015/01/29/baltic-index-idUSL6N0V868M20150129. If you don't believe in the vested interests sanitised propaganda, we could be in for frightening times.
Nationwide says annual rate of price inflation fell in January for fifth month running
""British Bankers Association showing that mortgage approvals for house purchases fell to a 20-month low in December dependent on banks responding to the rise in demand by increasing their lending volumes. If that part of the puzzle is missing, house prices are likely to struggle over the next year or so.â Nationwide said the average price of a UK home now stands at Â£188,446 â 2.4% above its pre-crisis level."" Is this slowdown in the rate of increase significant or just a pause for breath before another rampant year?