Widespread distrust of central banks means the counterplan's solution is politically popular.
Francis Coppola 19, MBA from Cass Business School, contributor to Financial Times, cited by the NYT and the Washington Post, author of "the case for People's Quantitative Easing", 7/26/2019, page online.
QE for the People’ is politically attractive too. There was widespread popular anger about governments and central banks pouring money into financial markets while ordinary people lost their homes and their jobs. Initially, that anger was mainly expressed against banks, for instance through the Occupy protests. But now, people are turning their anger against economic ‘experts’, central banks, and centrist politicians. Politics is polarizing: the centre ground previously occupied by mainstream political parties is hollowing out, and popular opinion is shifting to extremes, both on the right and the left. Populist politicians on right and left alike now promote a nationalist and protectionist agenda which threatens the international legal and institutional framework painstakingly constructed since the Second World War. Had QE for the People been the policy choice during the Great Recession, the resurgence of destructive nationalism might have been avoided.