: the Fed is nationalizing (or privatizing, depending on whether one views the Fed as a public, or a private - which it actually is - entity) the entire capital market at a pace unseen before in history.

AS the following chart from DB's Torsten Slok shows, the current pace of weekly Treasury purchases is simply staggering, unparalleled by anything seen before in history.

It's not just the Fed: with QE officially back (and not in the cute "Not-QE" variant, but full blown global debt monetization), every single central bank is now actively injecting billions of liquidity into the stock market.