Thanks to zero interest rate policies from the Fed during the Obama and Bush era and floods of money printing from Powell during the Trump era, now we have all of these zombie "tech" companies funded by free money from the Fed that end up selling a dollar for 80 cents in the name of disruption. The zero interest rate money supposedly had nowhere else to go in the eyes of Wall Street, so Wall Street chased and backed up tech companies in the aftermath of the 2008 recession, leading to one of the biggest periods of inequality the U.S. has ever seen after a recovery from a recession (something like only 22 counties in the U.S. recovered and all in tech or government centered counties), and Bernake cutting rates to zero, Yellen maintaining them, and Powell brring the money printers are all squarely to blame. It is the most ridiculous example of socialism for the rich the U.S. has ever seen.
Now all these loss subsidized zombies have basically destroyed previously legitimate companies that hitherto had a good business plan. All the previously legitimate companies were forced to take on unsustainable amounts of debt to compete with loss subsidized zombie companies because they simply would not die when they were supposed to, and now every company is overlevered with shrinking cash flows entering into a recession that really wants to turn into Great Depression 2.0.
Currently, the entire U.S. economy is being held up by money printing from Powell, but now we have reached a point in which he has to make a horrible choice; either destroy the US Dollar and send everything into hyperinflation to save US stocks and the loss subsidized zombies, or allow the zombies and the stock market to finally burn. However, just like delaying healthy forest fires from occurring, because the Fed has not allowed the zombie companies to die during mild recessions over the past 12 years, the entire U.S. economy will now go up in flames and we will enter into Great Depression 2.0 as all businesses die.
Congrats to the Fed for doing what no other external force could do: destroy America.