You’re right about personal responsibility. But when central banks make borrowing cheaper than saving for years, they’re rewarding debt and punishing prudence. Both can be true: people should choose better AND the system creates bad incentives. Fix the money, fix the behavior.
Discussion
Yes, it's done to avoid deflationary or stagnation.
Cheap debt allows for construction and big projects, new housing developments or shopping or transit or infrastructure to be created.
Central banks do only one thing: control the flow of money.
In any case, quantitative easing was only created by Werner in 1990's during the Japanese collapse. That's how "young" the modelling really is
Fix the money by returning to a gold standard. Not the dollar standard.
That will literally solve A Lot, but also change the balance of power substantially. It's why gold is only $3k and growing in line with mining yields and not real demand.
That was changed in 1971 by Nixon, so that was a problem.
In fact, everyone was very happy when the dollar was gold backed. They literally supported it.
Then, to create 'rapid growth' , creating a 'promise' that the dollar would be paid back in America Labour and it's backing rather than gold, allowed the US to grow insanely rapidly from the 70's till now.
We agree …
Fixed supply money > unlimited printing
Production-based economy > consumption based stimulus
Sound money creates better incentives