### Comment:
Hard to imagine US going to zero or negative interest rates. If it costs to store money at a bank, or if you receive less on a bond at maturity than what you paid, the concern of a recession shouldn't encourage people to spend that cash in the economy, which is the goal of lowered interest rates. This is why people historically buried money in mattresses. This happened in pre-war Germany. Bad recessions have been accompanied by populism then war.

### REPLY:
We've got the first in spades and last I heard there was a call to civil war recently. Lers dube it the America First war.

### END.