these QEs do help US to recover by actually lowering Americans interest payments. Once private debt is reduced to a certain level, then consumption will gradually resume. It takes time though. But that is based on USD's reserve currentcy position and US's enterprises's supiroir competitivity. In another word, US basically is robbing other countries to recover itself. For Australia, It is nothing good all. Its first direct impact is pushing AUD higher. Manufacturing, education, turism sectors are dying. Some Australians think we can do the same. That is naive, AUD is not reserve currency and Australia economy is too small and most of all, We are a net capital importer. If we do the same thing, capital flight will kill the financial system next day. We will be like Zimbabwe.
