Consumers willing to borrow and spend is a sign of good economy, until it becomes over leveraged and implode.

And low rates that encourage borrowing, is the main causes of it. So yes it isn't really about printing money (bank reserves), but that pretty much is what most countries do nowadays, open market operations.

My biggest nightmare is that we never quite recovered from 2008, we have low rates and low growth (compared to pre 2008).