Finance

The end of money as we know it

Illustration of a piggy bank on its back with X's for eyes
Illustration: Aïda Amer/Axios

The basic principles of investment are being upended, perhaps irreversibly, as the world enters an era of ultra-low and even negative interest rates.

What's happening: American consumers have seen the interest rates they're paid on savings accounts, bonds and CDs tumble this year, and in places where central banks have actually set negative rates — like Japan and the eurozone — some consumers are actually being forced to pay in order to save money.

The financiers' hour

WeWork
Photo: Interim Archives/Getty Images

This was a big week for financiers looking to make enormous profits from the empire-building ambitions of businesses with dubious business models.