Finally, people are slowly realizing that our global financial control system is in trouble at a root level. FT-Alphaville details it. The Fed is trying to stabilize asset prices across the world by absorbing risk since the normal tools don't work anymore. The problem: it's not nearly big/rich enough to accomplish that.
Some thinking: Ad hocism at the grand policy level (too much complexity in the global financial/economic system to assume a top down control system can be designed, so we keep throwing solutions against a wall to see what sticks) in combination with the rapid squandering of scarce resources (a failure to recognize that assets are not unlimited) and weak models (economics is a soft science posing as a hard science) are signs that the control system in inop.
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