The Federal balance sheet (spending and deficits) and lower corporate tax rates are used to create money and direct it to corporations to jack up stock prices.
QE lowers interests rates which increases stock valuations (discounted cash flow) and lowers returns on bonds, a competing asset class.
QE also provides a way for banks and companies to issue dodgy debt and then have it end up on the Fed's balance sheet during downturns, where losses don't matter.
The military/intelligence/homeland security industrial complex has become a ongoing bipartisan Federal stimulus program; spending beyond defense needs to boost the economy and jobs.
The "funnelling" effect of directing money to corporations and the wealthy has become very effective, as evidenced by the multi-year decrease in money velocity and increase in the GINI ratio.
