“r-star”: Another Case Of Self-Serving Central Banker Tommyrot

Central bankers and their governments are prone to embrace claims that low rates are now “natural.” If unnatural, they would be levying in full sunlight a giant monetary repression tax (at a rate equal to the spread of the natural rate over the market rate which the central bankers are manipulating and levied on government bond and money liabilities).But the claims about an actual low natural rate are bogus.