“It’s Been a Fun Ride”: Wall Street Braces for Trump’s Economic Colonic

The Federal Reserve’s near-zero interest-rate policy and quantitative easing have systematically mispriced risk, driving up the prices of squirrelly bonds and incentivizing private equity to take ever-bigger risks with other people’s money. I’d tip my hat to the cleverness of it all, if it didn’t seem like just yesterday that we all got a massive dose of reality about how poorly these types of things end.