This is of course both a political and a financial question.
But I am really struggling to understand/predict the ramifications of these never before (widely) tried techniques.
More specifically, I am thinking about the fiscal pros and cons, the winners and losers, and the political implications.
It seems to me the winners are entities with a lot of debt (nations, governments, multinationals) and people who have very good credit (ironically they are the same as entities with a lot of debt, plus rich people and the professional elites). if you have good cashflow and have borrowing capacity, negative interest is not such a big deal.
But for the vast majority (the working class, the poor, the pensioners), negative interests seem to be a net negative. The negative rates inflate asset prices without improving their ability to borrow.
And if these observations are true, we should expect a lively political debate about it. Yet the power elites seem to be unanimous in their support for negative rates?
So the question is is this not talked about because this is too complicated/too distant for the average person/politician?