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01-02-2009, 09:08 PM #1
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Bove: U.S. Enters Perfect Liquidity Trap
Bove: U.S. Enters Perfect Liquidity Trap
Friday, January 2, 2009 10:54 AM
By: Ellen Chang
The U.S. has created the perfect liquidity trap, said Ladenburg Thalmann banking analyst Richard Bove said in a research report.
When nominal interest rates are nearly zero, a liquidity trap is developed, he said. The theory was invented by John Maynard Keynes and a great proponent of it is Nobel Prize winner Paul Krugman.
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