[quote=SK in CV] They may have screwed up early on, but the fed has been masterful the last 3 years.[/quote]
The only thing the fed is masterful of is creating asset price bubbles. During the time when those bubbles are created it feels pretty good and looks pretty good but somewhere down the road it all comes crashing down. Then we wish the fed had never created the bubble in the first place. This time around it will be the same thing. Another asset price crash. Another round of nobody saw it coming. Another day of tears because this time it was different.
