Take my neighbor. He retired. He has a very small social security, some stock that has declined sharply, and a sizeable savings account that produces currently almost no interest.
How exactly could that person spend his money on "durable and valuable goods"? What kind of goods, and how will he still be able to pay the bills?
The elderly would be the first victims of such a stupid policy, just like inflation victimized them in the 70s.
Who says individuals don't get charged? That's the whole point of negative-interest rate policies. Bank accounts above a certain amount are already charged negative interest in Switzerland, for example.
As for Japan, there is currently a quiet run on banks due to negative interest. Japanese people hoard cash and buy safes.
Of course it will backfire. People will have to save more fore retirement since they cannot count on positive interest to produce gains. Hence consumption and growth will decrease further.
That's why these bozos want to ban most cash. They don't want you to withdraw your cash when the negative interest policy hits.
Reservoirs often have fish and in some cases quite large ones since people aren't allowed to fish on them unless they have special permits.
**: As an unreferenced footnote, fixed devices such as Chromecast should always have a hardwired option. Every other*** fixed device on my network is hard-wired; why should the Chromecast not be? I've never carried the Chromecast between TVs, although it's easy enough to do so.
We move ours all the time and don't have ethernet in most rooms of the house. I'd rather ethernet be optional to keep the footprint smaller.
I would like a son whose life expectancy isn't 40 years (which is 40 years longer than it was in the 1950s).
We can already mitigate genetic issues chemically, why not genetically? What is the difference?
Not only is UNIX dead, it's starting to smell really bad. -- Rob Pike