Good call. In general, any business activity that used to generate between 3 and 8% percent returns will likely disappear.
That's so many businesses. That's likely all of retail that Amazon didn't already kill. Automakers and airlines are probably going to need to be bailed out again.
I'd guess a lot of our economy, and what manufacturing base we have, depend on ZIRP.
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I hadn't thought about much of this until now. All the supply chain disruptions, labor force problems, and so much more, are rooted in the rate hikes to some degree.
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Chilling!
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