The Federal Reserve is the foundation of the progressive-left nanny-state. With unbacked, fiat money, massive debt and manipulated interest rates in the hands of political central planners - Fed.gov and all their cronies will never be denied funding. In turn, this has created now 3 generations of Americans who expect government to be their sugar-daddy, and vote that way.
Until conservatives understand that, they will continue to watch as the country slides away.
For those who haven't seen it, 'The Big Short' (Available on Netflix) is an excellent movie based on the '08 crash. It will give you an idea of the fraud prevalent in the system then; doubtless even worse today.
Since it was written (May '16), I believe it has been proven that many central banks are themselves purchasing equities with money from air.
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This seems to prove that no bubble bursts for long with the Federal Reserve at the helm, but there are limits on what the Fed can do when this bubble bursts, as it inevitably will, as surely as night follows day.
The Fed can't lower interest rates below zero without signaling that the economy is well and truly broken, and it can't force people who are wary of debt to borrow more, even if it effectively pays borrowers to take on more debt.
All the Fed can do is extend new debt to unqualified borrowers who will default at the first sneeze. This will trigger the collapse of whatever new credit-fueled bubble the Fed might generate.
The political winds are also changing. The public's passive acceptance of central banks' let's make the rich richer and everyone else poorer policies may be ending, and demands to put the heads of central bankers on spikes in the town square (figuratively speaking) may increase exponentially.
It's looking increasingly likely that third time's the charm: this set of bubbles is the last one central banks can blow. And when markets free-fall and don't reflate into new bubbles, pension funds will expire, as they were fated to do the day central banks chose zero interest rates forever as their cure for a broken economic model.
http://www.zerohedge.com/news/2016-05-27/heres-why-all-pension-funds-are-doomed-doomed-doomed