What the Fed is doing is economically perverse.
Snort. These people believe no such thing. LOL. What they DO believe is that monetization serves as a very effective mechanism for their continued looting operations. And they couldn't be more right; after all, the proof is in the pudding.
They couldn't possibly begin to give a sh!t about maximum economic output, aggregate productive utility, or any other host of cover stories foisted on clueless sheep to rationalize their actions.
One of the best things about Obamacare, is that it's in many ways a mirror image of the war-on-drugs: an incredible, wealth destroying mechanism that transfers savings & capital to chosen cronies who reap immense profits from bid rigging & insider trading while providing associated "services" and "equipment".
I'm not sure when we transitioned to this universal con game, but we're so far gone at this point that I cheer on all efforts at keeping the game alive. There are so many ways to make money in these kinds of corrupt markets, it almost boggles the mind.