Summary of Banks are paying people to borrow money. That’s alarming news for the global economy.
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In early August 2019, a Danish bank began to offer 10-year mortgages at negative interest rates, which means that people will end up owing less than what they borrow. That sounds terrific for potential homeowners but terrible for banks and, potentially, the global economy. In this eye-opening article, journalist David J. Lynch explores how this topsy-turvy world of below-zero interest rates is working now in Europe and Japan, and why it could happen in the United States as well.
About the Author
David J. Lynch is a financial writer for The Washington Post.