Low interest rates are causing the problem. They’re resulting in two distinct actions:
1. They’re not letting RE prices settle to a free market rate.
2. They’re causing a misallocation of capital.
Toss in the socialistic regimes regulatory burden and you’re not going to get much growth. 2016 can’t come fast enough. Get the Fed out of the banking business.
It’s a group of bankers working for... wait for it... bankers. They’ve failed over and over again since their inception.
The German 1 year bond currently pays -0.21%
In other words, you have to pay them to hold your Euros.