FYI: Medically speaking, low interest rates are disinhibitors. They stir the blood, liberate the imagination, and quiet the still small voice of reason that can’t seem to get a word in edgewise.
That voice would like to remind us that tiny yields forever lead to “impulsivity, disregard for financial norms, and faulty risk assessment.” They cause sober investors to behave as if a jigger of scotch had been poured down their throats and into their empty stomachs.
Regards,
Ted
https://www.barrons.com/articles/savers-lost-big-on-interest-rates-bond-investors-could-too-51555101437?refsec=bonds
