The article runs through the usual suspects in order with the Ponzi schemes upfront (crypto), then the vaporware firms (speculative tech companies that have never turned a profit), but the missing element are the zombie firms. This is the scary one for me. The fed itself ballparks it at something like 10% of top firms are zombie firms. These are mostly massive retail and manufacturing companies that have hit their complexity curve limit and are only being kept up by cheap loans to cover expenses (and often other debt obligations). If/when these start to go the meltdown could be massive and I’m not entirely sure the fed knows how big of a bite it’s taking here (tho ofc they have much more funding and expertise than my dumbass, I just assume when all things are equal the capitalist with act with maximum malfeasance and lack of future thinking in pursuit of profit). I’d love to hear JPow’s logic beyond class war here. You don’t liquidate banks on accident in pursuit of collaterally punishing the workers. They’re killing flies with a bazooka if that’s really all they’re trying to do here