Druckenmiller hit the nail on the head. QE and any program that relies on the wealth effect is, in truth, a redistribution of wealth from the lower classes to the rich because the rich are the ones who own the assets that are being inflated. The consequences of the spending however are borne by the lower classes who not only by definition don't own many assets but are forced to deal with higher food and fuel prices the resulting inflation can cause while also getting zero return on any of their small savings due to low or zero interest rates. QE is socialism for the rich and even the 1% are admitting it. Game. Set. Match.
By the way, this also helps explain the historic inequality that corporate economists seem/pretend to be so mystified by. Why is there such a gap between the haves and the have-nots? Probably because the Federal Reserve is pumping up assets for the haves to the tune of $85 billion, a month.
So surprise surprise the stock market, income inequality, and poverty are at historic highs at the same time. Actually don't be surprised, it is a direct and completely predictable result of the Federal Reserve's policy of socialism for the rich, capitalism for the poor.