I know this is never going to happen: Introduce wealth taxes on bank deposits and land ownership. It would help every nation on earth to achieve prosperity. If for some strange political reason you cannot do that, then issue perpetual government bonds because that is the only thing left to do.

By the way. QE has literally no impact on an economy by definition. It's entirely psychological. I don't know why central banks keep doing it. There isn't any private demand left over for credit at current interest rates. Central bank reserves are counted as part of the money supply but their velocity is 0 for practical purposes. You can't withdraw them and you can't use them to purchase goods. The only thing they do is let banks lend out more money which counts for nothing if interest rates are too high.

>This is what happens when a central bank keeps on preventing moderate recessions necessary for correcting a nation’s economic failures.

No such thing is necessary (enduring recessions for no reason). Also, USA is suffering from having the worlds reserve currency and Europe is suffering from having an incomplete euro.