I don't understand what you mean. My argument was along the lines of: - Fed buys bonds to keep yields low - Inefficient businesses are then able to secure fun

I don't understand what you mean. My argument was along the lines of: - Fed buys bonds to keep yields low - Inefficient businesses are then able to secure funding at lower than 'natural' rates and stay afloat - It takes more effort than necessary to produce the goods and services society needs - But also there are more jobs, so the mandate is met Also, simultaneously: - Fed buys bonds to keep yields low - A. increases the quantity of savings=investment dollars demanding a return - B. lowers denominator in DCF valuations - A & B apply dual pressure causing financial assets grow in price disproportionate to the amount of products & services provided to society (measured in cash flows) - people who get paid a salary get priced out of economic ownership - people who already hold claims on cash flows get "wealthier on paper" even though goods & services for society have not increased Am I missing something? Because these arguments seem to me to explain, in pretty simple terms,the world as I observe it.