Pinned
2005-2007 banks were 30x levered, there was no QE and Fed funds rate was at 5%
1998-2000 equities had highest valuations ever. There was no QE and Fed fund rate was at 5%
2015-2021 Japan & EU run largest QE on earth, JP and EU equities don't experience massive asset inflation
Replying to @TheStalwart
It's based on common sense. If you think it's a coincidence that the Fed's policies have correlated with massive asset price inflation and a merger wave, I can't help you.
