The Blight Of Debt-Fueled M&A: How Central Banks Destroy Corporate Value

Monetary central planning gives rise to economic waste, distortion and deformation because it causes capital to be mis-priced. Nowhere is this more evident than in the massive and destructive level of mergers and acquisitions (M&A) that has become a standard component  of bubble finance. Stated simply, ZIRP and financial repression push long-term interest rates to deeply […]
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