In another of his series on Financial Repression, Gordon Long of Market Research and Analytics interviewed Dr. Lacy Hunt, Executive Vice President of Hoisington Investment Management Company. Previously Lacy Hunt was with the Federal Reserve in Dallas. He was also the chief economist for the largest bank in Philadelphia, and the chief economist for HSBC (at the time the largest bank in the world). Hoisington manages over $5 billion for pension funds, endowments, insurance companies and others. Hunt has been with Hoisington for 19 years. link if video does not play: Lacy Hunt on Financial Repression Lacy describes financial repression as "a superficial attempt to deal with the excessive indebtedness that grips the global economy, not just the US, but Europe, Japan, the United Kingdom, and even now China and the emerging markets." "In my opinion will not work," says Hunt. "Monetary Policy is not the solution here. There are Fiscal Policy solutions but they require shared sacrifice, strong leadership (something we don't have in the US or Europe - no one has). "Basically what we are trying to do is to solve an extremely over-indebted situation domestically and globally by taking on more debt and aggravating the problem. Rather than bringing us closer to the return of the normal business cycle, they are pushing it all further and further into the future." 2015 Parallels to Currency Wars of 1920s and 1930s