The Fed's Big 75 Bps Mistake

Just a quick note about the Fed managing yesteryear's economy. 
There are many parallels to this weekend's article on increased risk of worldwide pandemic outbreaks due to increased international travel and the worldwide healthcare systems' utter lack of preparedness to handle it - and the worlds economic risk of pandemic outbreaks.  The difference is that the coupling of the world's markets is even tighter and the spread even quicker. 
The Fed is managing under the illusion of yesteryear's lightly coupled economies.  To be fair though, not sure that they have any choice.

The reason today's 75 bps cut is a mistake is that they are taking a big move without understanding the effects of feedback loops in a tightly coupled financial world.  Better to do nothing or small things than to throw a monkey wrench in a random direction.

Markets serve to find a clearing price and I don't see how this will do much to rectify the world's over-housing and overspending.  Borrow from Peter to pay Paul enough and Peter ends up owning you....