Another Jackson Hole Symposium has come and gone. We are still in utter disbelief how many investors pin their hopes on actually learning something by deciphering speeches by Federal Reserve Governors. This year's speech, brought us a few new concerns out of the Fed, in particular their concern about regulations having an effect on market liquidity as well as the impact from "High Frequency" Algorithmic traders. There was the usual talk of "excessive optimism" in the markets, remember way back when in 1996 when the Fed Chair Alan Greenspan gave his infamous "irrational exuberance" speech. As you can see not much has changed, even in the twenty years hence, the concerns are still the same, a broken record if you will. Which brings us to the ultimate conclusion, if the Fed truly can't control things then why do they even bother massaging the markets? If the concerns are still, markets over heating or in rarer times, underperforming, why doesn't the Fed just let the natural forces of market clearing mechanisms do their thing?