Is the printing of money in itself the creation of wealth? Bernanke and Obama say it is
and based the entire recovery on just that. If printing creates wealth we should each just work a day a year at our turn at the printing presses.
Think about it seriously. Ben prints a trillion $$, Obama gives some to foreign countries to buy American goods. Those company earnings rise from taking in printed money and we all agree that the company is now worth more because their earnings rose.
It all works short term but is unsustainable in the long term, it's a paint job. Ben's actions as Fed Chief are unprecedented and there is a reason it was not done before.