Reasonable post, Monster.
For those that are in denial, or simply don't know they're in denial, there's a lot of information out there to digest. Granted, it would have been better to begin digesting it 10 years ago, at the latest. But it's never, ever too late to learn something new.
Start with When Markets Collide, by PIMCO's main man. Move on to The Black Swan, by Nic Taleb. Listen to what Soros, Greenspan et al are saying. Maybe even subscribe to the FT. Read up on market psychology.
Nothing the US Fed, along with all other federal banks, in total or individually, has done over the last 80 years has stabilised markets when riled. Empirical data is there for you to review, objectively, not subjectively.
This is not a pissing contest, though given we're on PPRuNe and people are understandably fearful, it's sure to turn out that way.
Good to hear from you, Monster.