- doesn't cause any real world growth,
I sort of agreed with you. QE affects the price of money, but not the volume of money creation. There were lots of structural factors (particularly in the US) that prevented the benefits of the rate falls being passed on to borrowers. I think that it is not unreasonable for you to conclude that QE is ineffective at providing stimulus. - doesn't create any real jobs,
As above - doesn't help manufacturing,
As above - doesn't do anything for world trade,
As above - does create currency wars,
Disagree. The Chinese foolishly bought the "money printing" nonsense along everyone else. In true, QE did nothing to debase the spending power of the US dollar or devalue Chinese owned US dollar investments. - does create manipulation of free markets...
Central banks have been manipulating interest rates forever. It is called "Monetary Policy", and most economists think it is a good thing. QE is just a new tactic that pushes the Fed's influence further out the yield curve.
Afterthought: There is no such thing as a "free market".
