This line by Matt McOsker, in a comment on one of my recent posts, now reigns as the best line of the year in my personal pantheon.
QE’s only direct effect is on the financial sector. It only affects the real sector — where people work to produce, buy, and sell real goods, and produce surplus in the process — through second- and third- (+) order carry-on effects of quite uncertain and contestable mechanism and efficacy.
I’m with Steve Randy Waldman: if you want to kill James Bond, just shoot him with a gun, already!
Cross-posted at Asymptosis.