Unfortunately I don't think this will change anytime soon. We've seen the play book and "it works", which means they will keep doing it and doing it until they aren't able to anymore. When that point is, I'm not entirely sure, but I have a feeling we aren't there yet... The FED has shown time and time again they will do whatever it takes to keep stock prices going up. If they let it drop more than 20%, people can't retire and 'they' have a whole other mess on their hands. So, the game goes on...
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Yes, in many ways the cycle perpetuates itself and we're in essence trapped on a runaway train. I don't think this is going to end well as you say if the train slows down there will be major repercussions throughout society. You are correct, it's not a question of if anymore it's a question of when! Its worrying because up until recently most people preferred to be blissfully ignorant of what was/is coming down the tracks.