I think you are correct for the short term. And that is what you need to be to make money betting on stocks and bonds.

However, I do not feel you are correct in the long term.
Just like few of us could even conceive of quantative easing, I feel that there is something radical that is going to change in these markets.

Something like, there will be a bond sell off and the FED will buy them all, so the price never actually moves much... and then, the FED has all of its own debt, not realizing that is game over. As in, when one person has all the money and properties in monopoly, the game is over... lets play something else.