If anything it seems more like crony capitalism, when the CPI is understated and all investments are excluded it drives down borrowing rates and bond yields, which raises stock values and provides a stream of revenue with those with the largest access to the most credit. People like Elon Musk who avoid paying taxes by borrowing cheap debt, which who would lend him when his collateral is Tesla stock, which is entirely built on speculation and pumps to new all time highs whenever QE is unloaded into the market.