Negative nominal interest rates

We've figured out how to do it.  Courtesy of La Gloria of course.

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This is one of the most esoteric jokes I've ever seen. Brilliant.

Bring on the credit cards!

Filthy, Filty lucre

Global recession took to the streets for Labour Day.

In Germany, on course for its biggest slump since World War II, Berlin police made 49 arrests as young demonstrators hurled bottles and rocks and set fire to cars and rubbish bins in the early hours.

Around 200 far-right extremists later attacked with sticks and stones a rally organised by trade unions in the western city of Dortmund, as well as police, who dispersed the skinheads with truncheons and took 150 into custody.

Some 484,000 people gathered for peaceful May Day rallies across Germany, unions said, but police were bracing for more pitched battles after nightfall with—and between—far-left and far-right groups.

In Turkey, security forces fired tear gas and water cannon in clashes with hundreds of May Day demonstrators in Istanbul that left dozens of people hurt.

Demonstrators threw rocks and petrol bombs at police and smashed the windows of banks and boutiques in the centre of Turkey’s biggest city. In Ankara, about 100 demonstrators also clashed with police, the Anatolia news agency reported.

Istanbul governor Mehmet Guler said 21 policemen and 20 demonstrators were slightly hurt and 108 mainly young people were arrested in the clashes.

I wonder if there is an underlying variable that affects both the dependence on trade and the social safety net. Perhaps some aspect of culture or geography might be responsible for both.

Thank you very much.

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