Kevin Duffy looks under economic hood and applies free lunch fallacy to NIRP and QE

There is no free lunch. Polices like negative interest rates and Quantitative Easing are doing damage to the underlying economic engine. They misallocate capital, discourage thrift and promote fast money over slowly building wealth. At the end of the day, central banks are not all powerful. They are not immune to the laws of economics.

~ Kevin Duffy, "Central Bankers Are Starting to Lose Control," The Market, November 19, 2019