Our hubristic faith in the god-like powers of technology and central banks / states creates an illusion that the credit cycle turning is the result of a "policy error," when in fact it's just the way systems function. We've created extremely fragile, centralized systems optimized for profit, and operated on the false premise that all systems are infinitely controllable given the right technology or policy.
The result of our hubris is that the turning of systemic cycles will be more disruptive and painful than was necessary, as a direct result of our attempt to manipulate / rig the system to suit our expedient, short-term desires.
The cycles will continue until morale improves? Feeling the whip yet? Centrialization is for THEIR enrichment and pleasure, not ours. It is the convenient way to suck our country dry and discard it. Why do we have to put up with our own destruction?