'Black Swan' author Nassim Taleb says years of zero interest rates destroyed the economic structure and created 'tumors like bitcoin'

The world's largest economy has been damaged by years of US interest rates sitting at zero.

Disneyland has destroyed the economic structure over the last fifteen years. Do you think about it? "There is no interest rate," said Taleb.

Zero interest rates are hurting the economy. "You're creating bubbles, you're creating tumors, you're creating hedge funds that should not exist, but have existed for 15 years."

In the past, the author has compared the currency to a "contagious disease" and called it an "obsolete product of low interest rates."

Ultra-low rates were put in place during the global financial crisis as the fed funds target rate was held at a range of zero to 0.25. In response to the COVID-19 health crisis, the Fed slashed rates to zero again in March 2020.

Policy makers are expected to make borrowing money more expensive to reach their goal of cooling inflation by slowing economic activity next week.

We have to return to normal economic life. There was a time when your investment had to earn cash flow in order for it to be worth it. The new generation doesn't like these ideas.