/biz/ - Business & Finance

so now that the dust has settled and we're confirmed to never get back up to previous highs in equity or bond markets...

name your favorite manifestation of ZIRP insanity
>cryptos
>NFTs
>SPACs
>tech IPOs
>something else?

>>56246045
Bankers of course are against MMT because it replaces private banks with the central bank. But still, strange times indeed to have bankers on the good side.
>>56246052
Well if credit is handed out to uncreditworthy institutions you can get financed for utterly stupid endeavors that never result in growth in equity and that consistently print deficits. Kind of like the many tech startups that increased during ZIRP, many of which have now rightly crashed and burned. Then the argument comes on that "we need to be equitable and fair to everybody equally regardless", we've seen how that works with universities getting rid of standardized tests. Those tests screened competent people from incompetents, and now incompetent people end up as doctors or engineers or you name it. Those people will be in charge of important responsible tasks that the rest of the society trusts. Would you like your doctor to be one who couldn't pass a medical license examination test? And lastly, why liberty is potentially at stake, is that credit may begin to be issued based on factors unrelated to economic creditworthiness. How would you like being given or denied credit based on an ESG score for example, instead of your capability of producing valuable goods and services to society? I don't think that's a recipe for a successful economy.