I had a conversation with a "very serious" economist the other day about monetary policy was basically solved, and that the Great Moderation proved that we were

I had a conversation with a "very serious" economist the other day about monetary policy was basically solved, and that the Great Moderation proved that we were totally in control...$1.5trn...govt debt monetized, every time we pull back the market collapses, and now we are on fire again...this is connected, if you give a heroin addict more heroin, their health will improve...keep doing it, and they will get sick. The game is over. The market saw this, and kept falling. It is over...hopefully, things will improve from now and we stop pumping money into markets (and we realise that central bankers had no fucking idea what they were doing...they were just doing whatever was politically expedient, which is...hand out free money).