ML-Implode News - 'Miracle' needed to save the world, because central banks can't

The Bank of Japan and the European Central Bank are printing billions inÂ a "useless" attempt at stimulating demand as a "crisis of confidence" erupts over central banks and their diminishing influence. And for the same reason,Â the Reserve Bank of Australia may find itself powerless in trying to defeat low inflation by cutting interest rates to fresh record lows.
... "Take negative rates any further and central banks risk putting the financial system at risk." [Gor said]
...
"The reality remains that the world is overwhelmed with debt, so that would suggest that we would need to have low rates to make repayment easier, and to discourage saving.
"Ironically low rates spur further adoption of debt because of asset prices that are shooting skywards, and actually encourage more saving because income levels from the existing savings pile are too small to live on."
By the same logic, this increases reliance on pensions.

It's sad when even a critic of the establishment status quo can only come up with logic like the above. Negative rates are destroying us, so we need... low rates to discourage saving? Why, exactly, is it that economists are so allergic to accepting that a market-clearing interest rate is needed to encourage savings, so that it might be deployed towards productive investment, which is so sorely needed to get economies progressing again? Perhaps they are just too in love with central planning to accept any sort of decentralized, market-based solution... to having a "market"...

Relevant:

'Miracle' needed to save the world, because central banks can't - Gor