The rich have had enough of negative rates, and some are pulling cash out of Swiss banks

The rich have had enough of negative rates, and some are pulling cash out of Swiss banks
http://a.msn.com/00/en-us/BBZfv4s?ocid=scu2

Uh, oh. It looks like the rich are fed up with negative interest rates. Whatever the banks were thinking, about charging negative interest rates, was wrong and it didn't last. Now, does this mean the banking system is going to collapse? Or, what?

 

Capitalism is unstable. Say "its going to collapse" every day and eventually you can say "told you so".

 

I don't know what is going to happen. I just was wondering what this means. Any idea?

 

FISCAL PROFLIGACY

From the Economist, The Great Treasuries Binge - excerpt:

America's fiscal profligacy WILL continue as Donald Dork tries to show his moneyed-friends how much he loves them by yet again reducing their Upper-income Taxation - so they will contribute even more to his reelection fund.

I don't know if Congress alone can end the list of inanities the Dork has indulged in - but it is getting Very Boring. Expanding government debt just to win a presidency is Bad-Economic-Policy! There are other acutely important exigencies that matter more to the American public. Like:
(1) Funding a free Post-secondary Schooling policy so that our kids can get decent jobs in this new Information Age of ours, or
(2) Creating a National Healthcare Service that if the US had one would have forbidden the sale of opioid-drugs, which is the kind of services Americans need most. Obesity having become also a endemic problem in America.

Will he get away with his nonsense of an administration that ass-kisses the rich? Maybe not if the HofR has any say in the matter. And when it comes to the National Budget, the Reps do have a no so small "say" in the matter.

Madam will be waiting for the Dork next budget-season ...

PS: What is amazing is that the American people cannot see through what he has done:
*The day after his "enthronement" in the White House DD officially declared the birth of his Reelection Funding program.
*He specifically reduced Upper-income Taxation (already one of the lowest in the developed world) in order to obtain the extravagant funding that has since poured in.
*So, yes, he will want to treat-nicely his Replican sycophants in order to assure that the funding-dollars keep flowing in.
*And anyone who had read the petition-article in Psychology Today regarding the Dork's painfully evident narcissism (see here) might not have voted for him. This individual has clearly since gone bonkers.