Captain Bearcat
All-American in Everything
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Clinton Treasury Secretary: Biden has "worst macroeconomic policy" since Carter
Larry Summers was Bill Clinton's Secretary of the Treasury from 1999-2001. He was President of Harvard from 2001-2006. He was one of Obama's top economic advisors, chairing the National Economic Council. He was also Obama's first choice to be Chair of the Fed (before he committed some identity politics violations & disqualified himself).
To put it simply: his academic qualifications, experience, and Democratic Party bona-fides are top notch.
https://finance.yahoo.com/news/summers-s...27209.html
Quote:In his latest attack on the recent rush of stimulus, Summers told David Westin on Bloomberg Television’s “Wall Street Week” that “what was kindling, is now igniting” given the recovery from Covid will stoke demand pressure at the same time as fiscal policy has been aggressively eased and the Federal Reserve has “stuck to its guns” in committing to loose monetary policy.
“These are the least responsible fiscal macroeconomic policy we’ve have had for the last 40 years,” Summers said. “It’s fundamentally driven by intransigence on the Democratic left and intransigence and the completely irresponsible behavior in the whole of the Republican Party.”
Summers, a top official in the past two Democratic administrations, has emerged as one of the leading critics among Democrat-leaning economists of President Joe Biden’s $1.9 trillion pandemic plan. Summers warned in the interview the U.S. was facing a “pretty dramatic fiscal-monetary collision.”
He said there is a one-in-three chance that inflation will accelerate in the coming years and the U.S. could face stagflation. He also saw the same chance of no inflation because the Fed would hit the brakes hard and push the economy toward recession. The final possibility is that the Fed and Treasury will get rapid growth without inflation.
“But there are more risks at this moment that macroeconomic policy will cause grave risks than I can remember,” said Summers.
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03-29-2021 09:30 AM |
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stinkfist
nuts zongo's in the house
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RE: Clinton Treasury Secretary: Biden has "worst macroeconomic policy" since...
who'd a thunk it.....that's cray cray talk....
#gimmePutt
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03-29-2021 09:35 AM |
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green
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RE: Clinton Treasury Secretary: Biden has "worst macroeconomic policy" since...
Quote:He is also the nephew of two Nobel laureates in economics: Paul Samuelson (brother of Robert Summers) and Kenneth Arrow (brother of Anita Arrow Summers). ...
At age 16, he entered Massachusetts Institute of Technology (MIT), where he originally intended to study physics but soon switched to economics (S.B., 1975). He was also an active member of the MIT debating team and qualified for participation in the annual National Debate Tournament three times. He attended Harvard University as a graduate student (Ph.D., 1982). In 1983, at age 28, Summers became one of the youngest tenured professors in Harvard's history.
GOOD GENES
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03-29-2021 10:01 AM |
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shere khan
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RE: Clinton Treasury Secretary: Biden has "worst macroeconomic policy" since...
(03-29-2021 09:35 AM)stinkfist Wrote: who'd a thunk it.....that's cray cray talk....
#gimmePutt
Did I not say this was Carter II.
Did I not say it.
Hell we could run this better than these morons
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03-29-2021 10:34 AM |
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stinkfist
nuts zongo's in the house
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I Root For: Mustard Buzzards
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RE: Clinton Treasury Secretary: Biden has "worst macroeconomic policy" since...
(03-29-2021 10:34 AM)shere khan Wrote: (03-29-2021 09:35 AM)stinkfist Wrote: who'd a thunk it.....that's cray cray talk....
#gimmePutt
Did I not say this was Carter II.
Did I not say it.
Hell we could run this better than these morons
yes sir, we did and we could.....'course we'd quickly get 'Seth rich'd'....
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03-29-2021 11:00 AM |
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