If you're about to argue that there wouldn't be business cycles or depressions if we managed to overthrow capitalism, I don't think people are going to disagree with you lol
Most open system that tend towards homeostasis will exhibit boom-bust feedback loops (ecosystems, metabolism, gene expression, antibiotic resistance, human economies, etc.).
I'm not sure it's either possible or desirable to fight that at a fundamental level, although I do think politically it's a very good reason to provide a strong financial safety net.
I'm not sure what you mean by capitalism, but human economies are fundamentally self regulating homeostatic systems. You can engineer around that to make them more human friendly, or just, or dampen the swings, but you can't fight their fundamental nature.
Now, I think I agree with your larger point, that without the Fed this would be much worse.
So how did markets exist at all when the Fed was created? By your logic, they would have "gone off a cliff and never come back" long before that.
> When the government stimulates the already hot market with lax taxes and high spending it’s like pouring liquid oxygen onto a flame
Even after all the stimulus so far? No diminishing returns, ever?
I’m not a communist. Probably the market the US spread through the globe from 1945-2017 was a highlight. A pretty well buffered system, but not without it’s hard lessons and squandering of the individual wealth. There are clear examples of exploitation.