SaxoBank CIO Warns "Central Banks Can Do Nothing"

``In April 2015, Saxo Bank chief economist Steen Jakobsen said that zero rates, zero growth, zero productivity, and zero reforms have left a great many countries adrift in a "new nothingness". The products of this nothingness, said Jakobsen, include apathy, stagnation and "an economic outlook based more in peoples' heads than in reality". On the cultural level, he continued, the widespread lack of dynamism and new ideas has empowered a political class that is "mainly interested in maintaining the status quo", even as that status quo provides sharply diminishing returns.''