ZIRP was never the root problem. The problem was: too much money, too few consequences for burning it. The existence of the uber-wealthy means that markets ca

ZIRP was never the root problem. The problem was: too much money, too few consequences for burning it. The existence of the uber-wealthy means that markets can no longer function efficiently. Every market remains irrational longer than anyone who's not uber-wealthy can remain solvent. Welcome to the new normal.