The trouble with the Fed’s intervention is that its “mission” to put things back to the way they were pre-crash is misguided; we were already headed down the wrong path for the middle class and the masses, they just didn’t know it yet.
There’s nothing I can add to this conclusion drawn by Jesse about the big picture that everyone is missing right now. It’s perfect.
From Jesse’s Cafe Americain:
“What the US needs right now, more than ever, is a coherent industrial policy and a national strategy focused on the median wage, a serious reform movement, a reduction in its military spending, and a set of encompassing social principles with a longer term vision for the country as its goal.
Americans may not trust government as a recent tenet of dogmatic faith, but in doing so they are entrusting their futures to other people’s governments, and soulless multinational entities who are in fact using the markets to aggressively advance their own ends and benefits.
Bringing a dogmatic neo-liberal bias (ironically being promoted by political neo-conservatives) for “free markets” into a game where every other major country is executing a well thought out industrial policy based on increasing net exports is like bringing a knife to a gun fight, and then stabbing yourself as an opening move.”