Obama’s economic adviser blasts Biden’s stimulus plan, says it could trigger high inflation

New York Post ^ | March 29, 2021 | Evie Fordham

[nickcarraway]

Former Obama economic adviser Larry Summers continues to blast the Biden administration’s stimulus plan and warns it will result in a major inflation crisis.

“We’re taking substantial risks,” Summers told The Washington Post. “This might not have struck as much a nerve if it didn’t reflect concerns that were widely felt.”

“I know the bathtub has been too empty,” he continued. “But one has to think about what the capacity of the bathtub is and how much water we’re trying to flow into it.”

[The Great RJ]

I’m looking for a repeat of Jimmy Carter’s stagflation where interest rates and unemployment skyrocketed simultaneously. Biden like Carter will try to spend his way out of recession driving an inflationary spiral. Remember 18% more mortgage rates...around the corner with Biden

[spokeshave]

Printing money out of thin air causes inflation

And as the Biteme job killing scheme rolling on in overdrive

Coupled with a massive inflow of illegals

Wages are depressed and jobs disappearing fast

Net result

Stagflation.

[spokeshave]

Hi Great RT....great minds think alike,

[spokeshave]

In other news unemployment benefits extended another 6 months

Spokeshave whose last gig at Uber ended last March on doctors orders....I am older than Trump for reference.

[aquila48]

Bookmark

[Vendome]

OMG

LOL

[piytar]

When you’re too far left for Obama and his crew, that might be a hint your are WAY too far left...

[Oatka]

Ya think?

My first thought. After seeing the M2 money supply chart, I started getting into metals, for surely inflation will follow that path:

[E. Pluribus Unum]

[Oatka]

Looks like another good indicator.

[E. Pluribus Unum]

We are headed for Weimer/Venezuela territory.