The issue isn't monetary policy but fiscal policy. It's fine to throw money into the negative output gap, but only if you use the money to fill the gap. Buying assets leads the industrial horse to water, but unless someone, including the government, issues those assets to fund real job-creating, life-improving projects (air-conditioning, anyone?), the money does nothing. Spending is the key. The central bank just accommodates.

BTW, the pic of the leadership debate reminded me of the set of 'The Weakest Link." I was not alone in that reaction.