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Germany has recently joined Switzerland in the dubious All Negative Club. The interest rate on every government bond, from short to 30 years, is now negative. Many would say "congratulations," in the belief that this proves their credit risk is... well... umm... negative(?) And anyway, it will let them borrow more to spend on consumption, which will stimulate... umm... well... all of the wasteful consumption for which governments are rightly infamous.
While those who are about to borrow may find cause to cheer (as opposed to those who have already borrowed, at higher rates, who