> It is notable, however, how both the smartphone and cloud computing revolutions of the 2010s coincided with the start of this long ZIRP period: Nope. ZIRP r

> It is notable, however, how both the smartphone and cloud computing revolutions of the 2010s coincided with the start of this long ZIRP period: Nope. ZIRP really had nothing to do with the start of the cloud computing revolutions, since the industry was already moving in that direction with outsourced IT, and outsourced SaaS-like stuff (Application Service Providers was the old term for it). I think the reason why IT & Software engineering benefit in most types of rates has to do with efficiencies and profitability.