But remember, he was playing with zero interest money.
What has changed is that with zero interest rates, the opportunity cost of holding cash has gone way down.
Even with zero interest rates, Japan's real rates were already positive before the BoJ pushed them higher.
With six interest rate cuts this year -- the latest delivered Wednesday -- investors seem to believe that business could turn around in the second half of the year.
Some of us were warning in the late Nineties that you can't throw all sorts of economies together with one interest rate.
That total is sandwiched between the Miami Marlins and the Chicago White Sox, two teams with zero interest in winning ballgames, and about $150m south of the Boston Red Sox, a team that only wins ballgames.
These two problems with zero interest rates have been raised by voices on the right.
The government is still subsidizing them with zero interest rates and an unsustainable interest-rate curve".
With five interest rate cuts so far this year, one would think investors would be switching out of defensives and into more growth stocks.
The $45 billion Chan Zuckerberg Initiative is putting $5 million into a fund for Landed, a Y Combinator startup that offers to pay up to half of the 20% home down payment for educators with zero interest or monthly payments.
