Negative rates are the destruction of money, an economic aberration based on the mistakes of many central banks and some of their economists who start from a wrong diagnosis: the idea that economic agents do not take more credit or invest more because they choose to save too much and therefore saving must be penalized to stimulate the economy.

Vancouver's multimillion-dollar homes are not only out of reach for most Vancouverites, they are rapidly becoming a self-contained ghost town, because nothing speaks to the Canadian city's affordability crisis more than its empty houses acquired by "hot money" laundering Chinese: as of the end of 2016, the number of Vacant or temporarily occupied houses more than doubled since 2001 to a whopping 66,719.

Christine Lagarde, the head of the IMF, will become the head of the ECB. Already, she has made a fool out of herself. Following a two-day marathon in which "Spitzenkandidat" Failed and Merkel's Plan A and Plan B Dumped Lagarde will now head the ECB and give up her job at the IMF.