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The Fed must now accept responsibility for what happens in the end-game of the Moral-Hazard Monster Bubble it created.
Contrary to popular opinion, the Federal Reserve didn't set out to create a Monster Bubble that has escaped its control. Also contrary to popular opinion, the Fed will be unable to "never let stocks fall ever again - ever!" for the simple reason that the monster it has created - a monster mania of moral hazard in which all risk has vanished because the Fed will never let stocks fall ever again - ever! -is