Like Krgthulu I'm not especially optimistic that the powers that be will own up to being wrong or change their policies. They've convinced themselves that the only thing that matters is "low government borrowing costs" because this means that the people who have all the money have "confidence" in them. Of course low government borrowing costs don't just reflect market confidence by the bond vigilantes, they reflect the fact that their economies are crap and there aren't any productive investments anywhere. But, hey, as long as interest rates are low, nothing else matters.
I might actually prefer evil. This is mostly just stupid.