Agreed but the dollars foreign investors buy to pay for the bonds are not pulling liquidity out of the domestic bubbles - there are reserves all over the world. The point I wanted to make is QE is monetary policy designed to keep the share, real estate, consumer spending and debt bubbles from fully popping for now. The important problems are the fiscal mismanagement and lack of domestic growth. They need to have a serious pullback and the longer the Fed/Treasury keep the music going the worse the crash will be.
