‘The Inconvenient Truth About Asset Bubbles’

It's time to talk about bubbles some more. The other day, another widely-followed FinTwit personality decided to trot out the old "QE doesn't really matter" line in a tweet. He even called the notion that QE inflates asset prices "a silly conspiracy theory." The only thing "silly" there is the idea that policymakers can dump $15 trillion at the top of the quality ladder in the process distorting the entire supply/demand dynamic and somehow not create a desperate hunt for yield that drives inve