Thread by @CapitalJon

@tyillc @AlastairWinter @MikeH_001 @PaulGambles2 @Halsrethink 1. My problem with the FED and other #CB'S is they get their monetary policy settings wrong a lot of the time. I have respect for their intelligence but their policy settings often send the wrong signals. >

@tyillc @AlastairWinter @MikeH_001 @PaulGambles2 @Halsrethink 2. When you get monetary policy settings wrong that encourages Main Street and Wall Street to get it wrong. When Main Street gets it wrong there can be serious pain for the Public. When Wall Street or equivalent get it wrong someone else pays. >

@tyillc @AlastairWinter @MikeH_001 @PaulGambles2 @Halsrethink 3. Post the 2000 Tech Bubble Bust the #FED dropped interest rates too low for too long. Wall Street securitized a lot of dodgy #MBS off the back of this. Main Street bought up Property to ridiculous levels leading to an RE Bust, An MBS Bust and the GFC.>

@tyillc @AlastairWinter @MikeH_001 @PaulGambles2 @Halsrethink 3. I called the #RE and #MBS Bust and ensuing Bank Liquidity crisis in 2006. Who paid? Not Wall Street but Main Street. Who made that call? CB'S and Politicians across the Planet. Was that the right policy response? In my view- NO! >

@tyillc @AlastairWinter @MikeH_001 @PaulGambles2 @Halsrethink 5. Then post the GFC what have we got? Rinse and repeat...Rates too low for too long. Too much QE. Equity Bubbles, RE Bubbles, Zombie Companies on life support etc etc. This will not end well. Who is responsible? CB'S too a large extent...