Ever wonder why gov't doesn't care about overspending?
Because they can just print money. But that is not the main reason. Government has a desire to make asset prices go up so they can get more tax revenue. And market cycles .... those are good too because they get you to buy and sell assets generating even more taxes. The government's interest in the markets is basically the opposite of the individuals. Before the FED was created there was hardly any inflation and even deflation except in times of war (mainly 1812 and 1865).