What am I missing here?..........

I am continuing to rack my brain as to what I am missing here when I read and here story after story about the Fed being more cautious and diligent on the mortgage problem. Is cutting rates by .75 rather than 1 and blabbering something about inflation being more cautious? Is it solving the problem?

Also, is lending out billions and billions of dollars (with more to come) also being more diligent? There is talk all over the street about how there is going to be a co-ordinated worldwide buying of Mortgage Back Securites to help ease the crisis. Is this being more diligent? Is this not the continuation of dumping mounds and mounds of liquidity on the system. And isn't that gold bullish?

Also, the main problem still exists and that is houses are still very overpriced and people are still in houses they can't afford. That is not about to change anytime soon. Isn't that recessionary? Isn't the consumer still pulling the reigns in when it comes to spending? Isn't THAT recessionary. Won't the Fed cut rates to help spur the economy? What am I missing here?

Aren't all roads pointing directly to gold?