The real cost of QE isn't just inflation; it's the brain drain into finance, leaving innovation to rot.
We're trading our future for a few more points on the S&P.
Discussion
It’s a perverse incentive to acquire as much illiquid assets as you can, and then swindle the fed into buying those illiquid assets when no one else wants or has the ability to.
Then pay out management bonuses and stick the rest in more illiquid assets with that sweet QE cash.
The lure of the city has wasted so much potential...