I do not disagree that it still plays into the BTC thesis. I do think it is different for the general economy though. Bailouts and QE are still more selective than ZIRP. ZIRP finds it’s way into every nook and cranny.
I do not disagree that it still plays into the BTC thesis. I do think it is different for the general economy though. Bailouts and QE are still more selective than ZIRP. ZIRP finds it’s way into every nook and cranny.
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