While GrumpyOldBloke's analysis of who benefits and why may be open to question, I have to agree that there is a fundamental flaw in economic policy when it thinks that playing with money can fix problems. The problems are created because the money system stops reflecting real value being produced. Then we get re-adjustments when people stop believing in the game.
Our problem is debt. We've overspent and now we have to pay. Perhaps the previous expansion was fake and now the debt has to be paid. What if there is no "expansion in the economy"? What if the pie is not getting larger? Maybe it really is static. Maybe all those rising stock prices are not because people think the stock is worth it, but because with zero interest rates, anything is better than nothing and money is leaving the money markets looking for somewhere to go - stocks. Perhaps those higher corporate profits are hiding the fact that lots of people have been made redundant from high paying jobs and are now low earners.
Am I pessimistic? Well yes. I saw IT providing great gains in productivity through automation, then networking... but not anymore. When the great IT companies stop being IBM, DEC, Sun et al who provide business automation, R&D into much better tech; and start to become Google (looking for stuff which already exists) Facebook (cat pictures) and Twitter (speaks for itself); when we don't need more capabilities, but want things lighter and shinier; then we know we've no longer got much to contribute. Even all the server activity is about consolidation and catering to end-devices which are too feeble to do their own processing, by design. We aren't doing more anymore. All that network bandwidth going on streaming because we don't want people to have access to things without advertising being inserted. So much resource dedicated to stopping things being efficient. Moving to rental and usage models because resources are too plentiful for the IT industry to cope with. IT is becoming a parasite, not making business processes better, faster, cheaper, but merely extracting more rent for the same things we could do before. Shinier than before, perhaps, not not particularly more effective, not in a way which means we can produce more stuff.
The GFC, inflation, the Greek crisis, its all just symptomatic of corrupt minds given the tools and ability to hide, for a while, the consequences of their actions. The fact that we seem to get the same result, no matter who is elected should give us pause for thought about the current state of Western philosophical underpinnings and morality. What is it about our worldview that always seems to produce this result in those in power? Why is it that the great outcry over Ashley Madison is over privacy, not integrity? The moral aspect of it is seen mostly as foolish and in terms of a laughing-stock of techno-incompetance. Where are the laments over integrity, of acting rightly even when no-one can see you? Could it be that the lack of this in our society also drives the sub-prime strategy, the accounting cover-ups, the desire to buy votes by spending other people's money which they don't even have? It's just risk management after all and the risk of being caught is small.