A few decades ago when I was working my way through an Economics degree, the concept of a Liquidity Trap was explained as some kind of horror that could never happen here.
It’s very interesting (in the Chinese sense) to be experiencing one first hand.
Hey! Wasn’t the whole point of the Federal Reserve supposed to be keeping stuff like this from happening?
And since the Fed has clearly failed at it’s primary mission not once, but twice (or more) in less than a century we’ll be getting rid of it, right?