ZIRP

Zero Interest Rate Policy. A controversial policy pursued by central banks in countries whose economies have collapsed, in an effort to reflate the system. Under ZIRP, a country's central bank sets the interest rate to zero or near zero, to make capital purchases more attractive.

The policy is controversial because it is not clear that it achieves the desired objective, and in fact may lead to a so-called liquidity trap, or a self-reinforcing slow deflation of the economy. Japan has lived with ZIRP since its stock and real estate markets crashed in 1990, and their economy has stagnated ever since. The United States is presently and foolishly following the Japan ZIRP model, with a similar outcome all but assured.

Ben Bernanke's choice to go to ZIRP has doomed the U.S. to at least a decade of stagflation.

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ZIRP

Zero Interest Rate Phenomenon. In the period of near-zero interest rates that lasted from roughly 2008-2021, cash was cheap and many people - especially large tech companies - were throwing away money on silly things. Those things went away in 2022 and are now known as ZIRPs.

Googler 1: “Arrrgh I can’t fix this bug! Can you call the office fluffer down here to help get my mind off this for a bit?”
Googler 2: “Sorry chief, they got rid of the fluffers in ‘22. Just like the dog spa and the corporate Segways. Those were all ZIRPs, bud. Welcome to the age of austerity.”