Baaaahahahaha! What day was that? I hope that was like a 2008 think, else he was going just a weeeee bit overboard lol!!!
Joe Granville used to talk about the "3 legs up in a bull market.... #1 = disbelief, #2 = belief (everybody understands "why"), #3 = overbelief". IMV, we've been in #3 for quite some time... "overbelief in the Fed's money printing to solve all ills". Could be this virus thingy ultimately reveals that money printing WON'T solve any/all problems and that the "overbelief in the Fed" has run its course... that the Fed's cache has finally worn thin... and the market will correct back to some sort of value. (More likely will "overdo that on the downside", too.) We'll see. FWIW....
LOL! I know you said that "tongue-in-cheek", but that has actually happened in Norway(?)... though I can't imagine the value of having a negative interest mortgage loan on your books... (??) Maybe you charge big fees for such a loan and that compensates for the neg rate?
The feds printing has been the only thing and there will be even more of that coming as they not only print more to sustain the slowdown of the economic woes due to this virus but will also reduce rates. It's a rinse and repeat process. The overbelief has been with this market for a decade now and investors knowing that the fed will keep at it will only keep the rally sustained. And once the cure for this virus is announced the markets will be right back at new highs. I'm thinking end of first quarter or even sooner.
Not tongue in cheek sir. Denmark had negative mortgage rate not that long ago, no big up front fee either.
I saw the story too. Still I can't imagine the financial benefit to the bank for having neg mortgage loan on its books. (Maybe it has something to do with having more mortgage loans... even at neg rate... vs. some other metric. You know like that old story, "we lose money on every deal, but we make it up with volume.")
Could be right also. Guess it will depend upon how wide-spread the virus becomes and its ultimate consequences.