Of course isn't a repeat, it's just another flavour with similar consequences: bailouts, money printing, rampant inflation, credit crunch, and so on. No matter the language acrobatics and fancy terms used to describe it.
This has social and political consequences. Populists haven’t started popping up across the western world for no reason. Half the country feels priced out of basic dignities like housing.
That is because housing is coupled to the stock market. Stock market and real economy are two different things by now, or should be treated as such conceptually.
Try telling that to someone in the bottom 50%ile. “Sorry that you’ll never own a house - our free money policies have decoupled the real economy and stock market. Now get back to work.”
