We have a Fed fairy that grants our wishes and keeps us safe.
The Fed is our Tinker Bell, the market is Peter Pan. and we live in Neverland.
A world without limits. Imagine that. No need to worry about inequality, or demographics, or collateral, or over capacity, or structural unemployment. A world without tradeoffs.
Like Peter Pan, the world and its policy makers remain in a state of perpetual arrested development.