For anyone who hasn't anything better to do today besides sticking sharp needles in your eye you might want to read through the FOMC meeting transcript from Aug, 2007 here:
http://www.federalreserve.gov/monetarypolicy/files/FOMC20070807meeting.pdfYes it's over 100 pages but it will give you insight as to what those in control were thinking as the train began to run off the track. Sadly, many are still at the wheel flipping the levers.
Comments
These actions (the fed and friends) remind me of early studies I went through before my work in electronics; and one of the books was titled, "The Theory of Electricity". The scientists, of course, had the knowledge of how to manipulate electron flow (hole flow theory and other notations); but still were left to scratch their heads about some of the "magic" of some types of electrons and just how they may be caused to perform for benefit of a use.
'Course none of the above had to involve any theories or notions that directed involved the intervention or co-mingling of human beings and the outcomes from such interaction; which may be random at best, in the final outcome.
I still consider much of the governmental interactions from any and all areas to be at an "experimental level"; and we are the test subjects.
Thank you,
Catch
Quite right!