Read on Twitter
We've said it before and we'll say it again.
Central bankers are RUINING your life.
They've broken EVERYTHING and now they’re coming after you...
AGAIN.
Don't worry, we have the solution
1/n
Central bankers are RUINING your life.
They've broken EVERYTHING and now they’re coming after you...
AGAIN.
Don't worry, we have the solution
1/n
Central banks failing at their job.
Instead of acknowledging this and changing their useless policies, they write bullshit academic papers like this one:
“Central Bank Communications and the General Public”
http://mcmahonecon.com/wp-content/uploads/2018/01/HaldaneMcMahon_FinalManuscript-1.pdf
Instead of acknowledging this and changing their useless policies, they write bullshit academic papers like this one:
“Central Bank Communications and the General Public”
http://mcmahonecon.com/wp-content/uploads/2018/01/HaldaneMcMahon_FinalManuscript-1.pdf
TL;DR:
They believe that if they can just explain what they do (and why) to the general public, it will all MAGICALLY start working.
They're coming for you.
They believe that if they can just explain what they do (and why) to the general public, it will all MAGICALLY start working.
They're coming for you.
It's clearly the public's fault.
The policies are soooo clever - the preciouses can't be wrong.
It must be that 90% of the population are idiots.
If they could just dumb down to the proper levels of 'linguistic complexity' maybe you dummies would get it.
The policies are soooo clever - the preciouses can't be wrong.
It must be that 90% of the population are idiots.
If they could just dumb down to the proper levels of 'linguistic complexity' maybe you dummies would get it.
These academics don't live in the real world.
Nearly two years later, (they move FAST) another paper from the BOE.
"The 3 E’s of central bank communication with the public".
Not about drugs unfortunately.
- Explanation
- Engagement
- Education
https://www.bankofengland.co.uk/working-paper/2020/the-3-es-of-central-bank-communication-with-the-public
Nearly two years later, (they move FAST) another paper from the BOE.
"The 3 E’s of central bank communication with the public".
Not about drugs unfortunately.
- Explanation
- Engagement
- Education
https://www.bankofengland.co.uk/working-paper/2020/the-3-es-of-central-bank-communication-with-the-public
They need to do something.
Tax is boring
Politics is boring
Politicians are boring
Yet people get massively hyped up over what the next bad policy will be
And don't get excited AT ALL about monetary policy...
Even though it has a far bigger impact on your wealth
Tax is boring
Politics is boring
Politicians are boring
Yet people get massively hyped up over what the next bad policy will be
And don't get excited AT ALL about monetary policy...
Even though it has a far bigger impact on your wealth
Clearly central banks have no idea how to communicate with Joe Public
Let's help them out
The problems with the central bankers approach
1.The message (monetary policy) is boring
2.The messenger is shit at communicating
3.No-one trusts the message or the messenger
Let's help them out
The problems with the central bankers approach
1.The message (monetary policy) is boring
2.The messenger is shit at communicating
3.No-one trusts the message or the messenger
The solution
Deliver the message as a story, make it relatable
Use a credible messenger that actually knows how to communicate
Sounds great in theory, but how do we do it in the real world?
Deliver the message as a story, make it relatable Use a credible messenger that actually knows how to communicate Sounds great in theory, but how do we do it in the real world?
Academics and central bankers need not apply.
We need the BEST producers, directors and celebrities.
Money is no object (just do more brrrrrrr)
The Big Short showed us the way forward;
We need the BEST producers, directors and celebrities.
Money is no object (just do more brrrrrrr)
The Big Short showed us the way forward;
All we need are the right messengers.
Think about it.
A few years ago, most people didn’t take climate change seriously.
Along came Greta, and everything changed.
Think about it.
A few years ago, most people didn’t take climate change seriously.
Along came Greta, and everything changed.
If central banks want inflation, surely all they need is an inflation Greta.
You deny the existence of inflation?
You deny the existence of inflation?
Or is it all just a smokescreen?
Do central banks truly want the public to understand?
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
- Henry Ford
Do central banks truly want the public to understand?
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
- Henry Ford
If you agree with us, RT this thread and tag the @bankofengland @federalreserve & @ecb
Reply with questions about central banking, join Macrodesiac for free and we'll answer in detail. https://www.macrodesiac.com/plans/
Reply with questions about central banking, join Macrodesiac for free and we'll answer in detail. https://www.macrodesiac.com/plans/
