For me, measuring things that exist is hard enough and pinning down could-have/should-have/would-have is just more trouble than it's worth. Let's all enjoy our own private cherished opinions knowing that no proof exists for or against.
I've been thinking about that reply for awhile, and I think you owe it to yourself to think harder. It isn't a difficult connect to make, just supply and demand.
1. The Fed has increased demand by increasing the money supply. If you disagree, where is the $85 billion a month going?
2. Increased demand leads to higher prices. I presume you will accept that premise without further argument.
3. Increased prices caused by increased demand are not linear, as many other variables come into play.
Real world example: Ethanol subsidies. The demand and price for corn per bushel is much higher now than it was before Ethanol subsidies due precisely to the extra demand created by those subsidies. No one questions this. But if you look at the price of corn since the beginning of subsidies, you'll find that it still goes up and down, just as it did before, but at a higher level. If congress announced tomorrow that all ethanol subsidies were to be halted immediately, the corn market would collapse.
QE is to the greater market just what ethanol subsidies are to the corn market. This is not a mysterious, incalculable effect. Subtract $2 trillion of buys out of the market and what does it look like?
The Fed has laundered Main Streets wealth via QE into the hands of Wall Street, and we're supposed to be happy about that.
Sounds like you're super unhappy with that.
Personally, I already got enough things I don't like thank you so my focus is on what makes me happy, and while I already like most things about America there are in fact a few changes I'm working toward. First tell me if there are any policy changes that you'd be happier with --things that you'd want more of or new things you'd want to see starting up.