Fracking is new tech with a ridiculously short path to profitability, you pump the oil and you sell it. It's just good business to pump money into fracking (maybe bad environmentally, but that's beside the point). I wasn't aware of subprime auto loans, I'll have to look into that at some point. But the point about traditional business being really, really tight on credit even during QE still stands.

Politically, citizens have nothing to do with it, look at Congress. They're voted in on fears of socialism and kenyans, not like they can turn around and support infrastructure spending.

Actually fracking doesn't look like a very good business as long as Saudi Arabia can extract oil from the ground at $6/barrel and thus lower the price of oil to a level where fracking does not pay off. I think a lot of these businesses therefore went belly up recently. But again this stuff is not my thing... so I could be wrong.

Also - what do you mean "credit is tight for businesses"? Haven't businesses of all kinds been vigorously buying back their stocks lately, while issuing bonds at the same time? Those bonds having very low yields?

Maybe grandma has a problem getting a loan from a bank to run her small shop (why would the bank lend out money when they get risk-free handouts from governments?.. AFAIK banks are actually notoriously bad at credit risk assessment when giving out loans to businesses so they tend to not bother); but definitely a public company issuing bonds has no problem of prohibitively high yields.