wsj.com/articles/forei…
This only makes normalization of the central bank balance sheet more difficult.
It also makes the economy less productive.
Markets would have stabilized around more sustainable valuations. Expectations would have adjusted.
Instead, policymakers went insane.
cnbc.com/id/100311751
Sports gamblers shifting to equities, because they correctly perceive that markets have no relationship to the real economy.
Stocks are just ping-pong balls for action junkies.