I would say your graph illustrates goldilocks growth. How would you have the line drawn differently? Flat line? That's hardly an economy that's growing.
Yes. You are right. It illustrates fairy-tale growth. Of course someone as smart as you keep telling us you are very well knows the difference between monetary growth with economic growth, and what the chart illustrates is only monetary growth.
Here is an interesting table comparing YOY monetary growth in various countries. Funny that Switzerland has very little monetary growth, but maintains a very very productive economy, wheras we put ourselves in the ranks of the socialists and communists. Source