re: The Time Table for the Dollar

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What do they do that is so good?

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See the above post. In normal circumstances they smooth out economic cycles. In unusual circumstances (the past 4 years) they can save the system from disaster.

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Why not accept the reality that both are related and that thinking in some theoretical central banking model is not realistic, and perhaps a bit utopian?

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The fiscal side still holds onto the old academic models. Trust me when I say this, the Fed has many, many models that they use. None of them are "ivory tower" models that are created in academia without real world testing.

In terms of you blaming central banks, I'm not exactly sure why you feel the need to point a finger at the only institution that actually saved us when things really went bad. What you can blame on the Fed is keeping rates way too low during the 90's and early 2000's. You can blame fiscal authorities by allowing banks to make loans to, in essence, anybody. You can blame banks for taking on too much risk. But the end blame has to be placed on society, because in essence if you refuse to do that you're not blaming the biggest underlying cause.