ZeroHedge Nails It.

Just call it TheFedBubble. Over at ZeroHedge, they refer to it as TheCentralBankBubble but either way, we would be in a full-on Depression but for central bank intervention.

Sure, The Fed will be able to put off the inevitable but that isn't necessarily good. In 2008, Fed action seemingly mitigated what would have otherwise been at least a far more serious recession.

That's possible again this time as Powell and Company no doubt believe but that's insane because it defies elementary common sense: the scale of The Fed's intervention proves without a doubt that economic problems are not only unprecedented but beyond remedy. That's precisely why The Fed has to keep pumping the funny money because thus far, no amount has been sufficient to solve the myriad of economic problems -- and no amount ever will.

Fed tapering is no longer possible so at some point they'll have to go cold turkey and that's when all hell will break loose.

The Fed is clueless that it would have been better to cut and run far earlier in this cycle rather than to prolong counterfeiting. By doing so, they've only compounded the crisis beyond all measure and made an already horrible economic situation infinitely worse.

We aren't at 2008 debt and deficit levels. 2020 debt and deficits are way beyond horrific, so The Fed did us no favours by mindlessly digging in.

So, like every other bubble before this one, it will ultimately pop and economic conditions will be more serious than anything ever seen before, negatively speaking. This coming Depression will make 1929 look like a walk in the park.

Fools, who know nothing and have learned nothing. Typical central bankers, Volcker excepted.