It can't last long enough to make a difference (by itself). But what happens after will not be pretty.

1 - the rise of inequality, far more than "capitalism" 2 - reckless investment a la Softbank 3 - next collapse of banks will be caused by it and therefore next financial crisis

That monetary policy can’t exist independently of regulated markets. Capability theory might suggest that corps aren’t capable of doing what the policy intends bc they are incentivized in conflict with the policy.

Pension funds, public and private, are shifting % allocations from bonds to riskier assets. Next major market downturn there will be both a lot of pension bailouts and unexpected decreases in pension payouts to retirees.

Low interest rates leave little room for error in th euse of alternative monetary stimuli. Negative interest rates are just one alternative, and maybe not the most important one. There is QE, for example. It may be more worrying that the deficit was run up for not good reason.

Govt unable to pay the debt when the inflation starts to move up leading to increase in interest rate.

Debt, demographics, deflation

Increased ghg emissions from bringing the future into the present more rapidly, yet not having a price on carbon.

Updates in books and teachings (theory) that implicitly assume interest rates as perpetually positive. @sama

That Most people on Twitter don’t understand economics