Buddy I'm not going off an economic theory about ZIRP like you posted, I'm going off having run valuations on companies and seen that interfering with the risk free rate made bad companies (and their wasteful activities) valuable.
I agree the problem isn't the absolute level of interest. My point is the yield curve should reflect the market appetite for risk, and we broke that relationship.
Buddy I'm not going off an economic theory about ZIRP like you posted, I'm going off having run valuations on companies and seen that interfering with the risk free rate made bad companies (and their wasteful activities) valuable.
I agree the problem isn't the absolute level of interest. My point is the yield curve should reflect the market appetite for risk, and we broke that relationship.