The QE stuff carried on far too long with no consequence to the banks.
If banking is such an awful business, let the investment houses and insurance companies spin off.
Furthermore, this isn't a massive asset bubble, nor does it fit the description of them. What sectors are in a bubble? If they popped, would they bring the economy down with them?
Your most credible case on this would be the energy industry - "low rates allowed shady shale companies to borrow billions at ultralow rates," right? OK, so now that the price of oil has been cut ~65% (65% of your revenues, gone!), we:
1. Still have positive inflation, even when accounting for energy
2. Still have a functioning energy sector
3. Haven't experienced any kind of major economic dislocations.
I guess what I'm asking is, how is this recovery making things worse in the long run, than a total economic collapse in a nuclear age would have been?
Because of that, we're in this weird near zero interest rate world that in the long term is undermining pension funds and creating other structural problems.