No. I posted last year that once "old money" from around the world pulled out, the US market would fall, and fall hard. Every single US citizens combined would not have enough CASH to pop the US stock market. Only way to reverse the path is to increase interest rate EARLY in the process, that opportunity is long gone. The beauty of price discovery process is that a new balance point will be found, and that will take some time.
Increasing interest rates would have destroyed the US economy. If the dollar was strong, then increasing rates would have made sense. With a weak dollar, the fed would have to have a death-wish to increase rates. You don't heal the economy by bashing it over the head with a stick.
Things absolutely are bad. The key really is for people not to panic though. But investing is going to be a losing proposition for perhaps the next 1-2 years.
Early in the process is beginning of last year. Not now. Too late. At that point in time, yes, you get some banks fail. Yes, you get some I-banks fail. Recession and depression could hit, then things will work out because people will fight their way back. Just like any stupid acts - cutting yourself with a knife, or, whack yourself hard with a club, etc. = dropping the rate fast and hard enough will lead to some consequence. Current Fed chair put his Ph.D thesis into practice, and that is what you get now. His thesis could work if US decided to declare war tomorrow against the whole world and that the whole world surrender at once. It is a truely global economic system now, not something from 20 years ago, when his thesis was formulated.
Good points. Unfortunately, I think the FED and president overestimate the impact and power that monetary policy has. I always like to liken it to using a small car and a cable to stop or alter the direction of a mack truck. Under the right circumstances, you might have an impact, but the conditions have to be just right (speed of truck, incline, friction...etc). And at other times, the influence of the "car" may not happen nearly as fast as you'd predict or like. The key is conservatism. Slowly "coax" the truck, but don't rip the cable out or destroy the car trying to whip the truck to change direction.
WOW, you have GRANITE COUNTER TOPS? Damn, you must be the best trader on the board. I'll bet you snuck that in there so we would all be envious.