Did (or can) quantitative easing cause an "everything bubble"? Wolfstreet claims that


  It’s true that despite QE globally – not just in Japan – there has been relatively little consumer price inflation in the countries whose central banks perpetrated it. But it has caused enormous asset-price inflation. We call it the “Everything Bubble” where practically all asset classes globally have become ludicrously inflated.


Is this correct? I'm having doubts because what is a bubble is usually hard to define. How is this "everything bubble" different from just growth that QE is supposed to stimulate?
It’s an editorial opinion, and it’s hard to give it a technical meaning. 

The distinction being made in the text is between growth in the “real economy” - which would be measured by GDP and/or consumer price inflation - and growth in asset values. For example, there could be no direct job creation because of QE, just equity prices going up.

However, this is an opinion/claim that is hard to evaluate. One argument is that QE would first lower term interest rates (by reducing the stock of debt outstanding and/or signalling that the policy rate would be lower for longer), and this should raise other asset values by decreasing discount rates. (Please note that how QE affected interest rates was the subject of some theoretical controversy; I believe that other questions here discuss this. I am summarising one standard interpretation.)

The idea is that there is a link between rising asset prices and economic activity (known as the wealth effect). Since we do not know how many jobs would have been created in the absence of QE, we cannot be sure how large this effect is.