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
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).
It doesn't just matter what the Fed is buying to balloon the Fed Balance sheet, it's about where the money printed is going and what that's being used for as well. That's where you get the bubble affects of it all and have to follow tha as well. Their progam puts money out there to buy what? hmmm.
thesis you expouse. It all starts on this repression. There's a huge risk cost built up as it goes on. that's why you might want to wait on building up you INTC until after the next paper "money burn."