The Interest Rate Vomit Trade Has Happened, page-22

Madamswer,

another way of looking at it (from a peverse perspective):

negative real rates are "required", but the bond mk doesnt wish to subsidise anymore. ie - there is too much debt, and the easiest mechanism is to "create inflation".

i would argue that the energy policies introduced into the UK (excess profits tax, and direct subsidies to retail consumers), Aust (rebate of fuel exercise tax), Germany (subsidies to both buss and retail), USA (some sub's to retail) etc etc.

a similar thing - is very likley in foodstuffs (imho).

take care
rgds
V_H