Only if you start with the premise that we should have a state run economy.
The end result of QE is a European socialist economy with unemployment never dipping below 10% and real unemployment, especially among those below the age of 30, of over 40%. The new normal, as it were.
This QE will never stop, because it isn't working. In fact, it is ensuring that unemployment will never get better. Its not like we don't have dozens of such examples to look at.
Participation rates before the 70's reflect a different cultural norm of one earner households and low divorce rates. Going back 70 years reflects social change, not economic. That is broadly accepted by everyone that uses the charts. I also don't use industrial capacity charts from the 1700s.
As for things getting worse since the 90s, so? Is there someone on this thread indicating that we weren't already becoming a welfare state in the 90s?
You think that we are going to use the same game plan as Japan and Europe, but somehow achieve a different result. Now that is some first class selective thinking.
I reject your underlying premise that the state can manage the fundamentals of the micro economy by adjusting the macro indicators. Its a simple case of cause and effect. Artificially adjusting the indicators doesn't magically adjust the fundamentals, no more than turning a weather vane affects the direction of the wind.
As for the participation rate I've said it can be tied to women entering the workforce. Now the decline is because of women leaving the workforce. Male participation rates have been steadily dropping since the 40's. People can bitch about it being because of Obama. They are flat out wrong. It's structural.
