a bit of respect., page-10

I have no idea from where you get your data from, as you never tell us, but it must be from the usual suspects.

For you information Reinhart and Rogoff have compiled an impressive database, which covers eight centuries of government debt defaults from around the world. They have also collected statistics on inflation rates from every country where information is available and on banking crises and international capital flows over the past couple of centuries. This lengthy historical study gives what they call a 'panoramic view' of the unending cycle of boom and bust.

To my understanding the FED did not exist EIGHT CENTURIES ago.

http://www.google.com.au/search?q=Eight+Centuries+of+Financial+Folly&ie=utf-8&oe=utf-8&rls=org.mozilla:en-US:official&client=firefox-a&gws_rd=cr

Moreover, the problem with the Fed is that its policies were so successful for such a long time that people became too complacent.

According to data compiled by the late Angus Maddison, real GDP in the US grew by by 4.13% and 4.43%,during the 1950s and 1960s respectively, and by about 3% in both the 1980s and 1990s. This represents a period of unprecedented growth and stability in America's history.