Good; I feel that sure about it, Stephen.

The Fed has in the last 15 or 20 years simply risen to and beyond their level of competence to deal with today's (mainly) social problems.

The only answer is for the Fed to back off, divide the problem into smaller, more tractable chunks that are the size that can be dealt with at the state level.

If you look a bit further into the future, I think the time will come when states will, in turn, start doing the same thing, thereby moving certain problems down to the county or large community level.

In today's "system" there is just no other way, unless continued and escalating expenditures with negative ROI is the desired solution.

By the way, what date did you put your "Dennis said. . .?"