>as soon as intrest rates drop Which could take a lot longer than people seem to expect. If you look at the past 100+ years of economic history, 2009-2021 is

>as soon as intrest rates drop Which could take a lot longer than people seem to expect. If you look at the past 100+ years of economic history, 2009-2021 is a complete anomaly. ZIRP is not the normal state of affairs, nor are negative real rates. There was an attempt at returning to normalcy from 2017-2019 but then Covid hit. Starting last year the Fed is attempting once again to return to a normal monetary environment. Rates are likely headed higher than people think and will remain there longer than people think.