Fed Stresses Its Commitment to Low Rates for the Long Run

[bucolic_frolic]

2. The reason we're in this mess, aside from the pandemic, is Low Rates for the Long Run

QE 1-2-3 created distortions in the economy. Specifically capital was and remains cheap. Every fool who has delusions of riches can borrow. Every corporate wife has a side business that's little more than a tax write off. Thus so many cafes, bakeries, and gift shops. The distortion is extreme numbers of small businesses to the point of pure competition where profits are driven to zero. There is no future in many of these businesses.

Now Powell will do it again. This time they destroy the currency. Powell is crazy in my opinion.