Let's forget, as suggested by you, QE in Japan as well as all other speculative booms of the past.
You state, I quote: instead of causing direct price inflation of goods and services due to each dollar being worth less because there is now many more of them, the effect has been transferred into/onto stocks and property.
Now, could you please let us know what were the channels used by the FED in the process of moving the QE trillions exclusively into the stock and property markets? Was the money stamped with a note saying: valid only for speculative purchases in the housing and stock markets of America. Completely void otherwise.
As to the mob that you incessantly mention, allow me to remind you (I know that I shoun't do it, but the temptation is very great) of what they were saying not long ago:
"the motive, need, and desperation for QE3 is being formed here and now, to be announced by late summer probably. Prepare for QE to infinity, endless hyper-inflation, a process that cannot be stopped, as the urgent needs grows."
I may be bake later, but cannot guarantee as I have tax matters to attend.
