in short, there's a huge Corporate bond blowup ahead for any funds stupid enough to hold that paper at the minimal yields they bought it at
you say that and then say bond talk that they are expensive? which one is it? They are expensvie in that kind of ruthless competition ahead for profits. Expecially if you're scenario in AMZN plays out: That make buying the low yield stupid. You demand higher yield with profitablly challenged compnanies, not almost no yield. See what i mean?
The question is simply what is "more" stupid in a relative sense. Again, financial repression is all about forcing negative real returns over the longer haul (lower than population + productivity growth).