It’s not the first time the Fed has intervened. They intervened after the S&L crisis, after the Tequila crisis, after LTCM in 1998, and then after (the year) 2000 when the Nasdaq collapsed. They kept interest rates artificially low which led to a credit bubble, the housing boom and subsequent collapse.
You can postpone the problems by printing money, but then the problem comes back to an even larger extent.
- Marc Faber via a recent King World News interview: