More Tickerguy Affirmation: Hoenig And.... Congress?!

What do we have here?

"We can't rely on monetary policy. We can't solve the international imbalances with monetary policy, but people don't know that yet," warned Hoenig, who oversees banks in Colorado, which is part of the Fed's 10th District based in Kansas City, Mo. The core problem is that the United States has consumed more than it has produced for 20 years running. Consumers and governments in the developed world have piled on too much debt.

Uh, 30 years running. Remember this chart? Hoenig goes on to admit that The Fed built the asset bubbles with.... Read the full analysis here.