From WIRP to ZIRP to NIRP and Finally BIRP

From WIRP to ZIRP to NIRP and  Finally BIRP by Joseph J. Ori, CPA, CFA

As many of you know, the interest rate policies of all of the central banks around the world have entered the “Twilight Zone”. 

Here in the U.S., we have gone from WIRP or Wall Street Interest Rate Policy which was driven by former Fed Chairman, Alan Greenspan in the 1980’s and 1990’s. Mr. Greenspan, you may remember, never met a low interest rate he didn’t like and in every stock market downturn or mismanagement of a high flying hedge or private...