Does the QE spending give us false economic estimates?
One silver lining to the utter disaster that has been our monetary and fiscal policy in recent decades, is a renewed interest in Austrian economics — and particularly the Austrian Theory of the Business Cycle. A good summary is found here:
http://mises.org/tradcycl/theorsum.asp
Yes, cheap credit policies by the central bank send out false signals to market participants, and create the boom-bust cycles we’re all too familiar with now — dot-com bubble in the 1990s, the real estate bubble in the 2000s, and currently the stock market has been inflated with newly created money.