Comment by b9a2cab5

They were right about some of that. QE didn't have any noticeable impact on employment, and although general inflation didn't see much impact (if any), asset inflation went through the roof. Housing prices, stocks, etc. all point to insane asset inflation. One could also make the argument that the skyrocketing cost of college is due in part to the lower interest rates caused by QE (along with government guarantees on student loans and the inability to shed them in bankruptcy). The currency didn't depreciate relative to other currencies, but is that because it held its value or because other currencies were also QEing their way out of the recession?