ZIRP and QE from central banks have allowed firms to lever up to levels where they are options for equity holders, providing amplified payoffs in good times, and either imploding or being “bailed out” by more of the same policies during bad times.
Stoller occasionally writes some interesting things, but I think he's super biased. What'd be a fairer complete explanation of what's happening here?https://twitter.com/matthewstoller/status/1274783384456306688 …
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