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Obama’s economic adviser blasts Biden’s stimulus plan, says it could trigger high inflation
New York Post ^
| March 29, 2021
| Evie Fordham
Posted on 03/30/2021 5:32:57 PM PDT by 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.”
(Excerpt) Read more at nypost.com ...
TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections; US: District of Columbia
KEYWORDS: biden; districtofcolumbia; economy; eviefordham; inflation; influence; larrysummers; newyork; newyorkcity; newyorkpost; obama; stimulus; washingtoncompost; washingtonpost
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To: nickcarraway
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
21
posted on
03/30/2021 7:50:15 PM PDT
by
The Great RJ
("Socialists are happy until they run olut of other people's money." Margaret Thatcher)
To: lurk
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.
22
posted on
03/30/2021 7:54:25 PM PDT
by
spokeshave
(White Confederate statue kills black man......Another month of protests.... (HT to seawolf101))
To: The Great RJ
Hi Great RT....great minds think alike,
23
posted on
03/30/2021 7:56:39 PM PDT
by
spokeshave
(White Confederate statue kills black man......Another month of protests.... (HT to seawolf101))
To: 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.
24
posted on
03/30/2021 7:59:06 PM PDT
by
spokeshave
(White Confederate statue kills black man......Another month of protests.... (HT to seawolf101))
To: nickcarraway
25
posted on
03/30/2021 9:58:04 PM PDT
by
aquila48
(Do not let them make you care! Guilting you is how they control you. )
To: Richard Axtell
26
posted on
03/30/2021 10:33:33 PM PDT
by
Vendome
(I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
To: nickcarraway
When you’re too far left for Obama and his crew, that might be a hint your are WAY too far left...
27
posted on
03/31/2021 3:50:30 AM PDT
by
piytar
(Do NOT forget Ashli Babbit!)
To: E. Pluribus Unum
Ya think?My first thought. After seeing the M2 money supply chart, I started getting into metals, for surely inflation will follow that path:
28
posted on
03/31/2021 8:55:37 AM PDT
by
Oatka
To: Oatka
29
posted on
03/31/2021 9:09:53 AM PDT
by
E. Pluribus Unum
(Anti-racism looks suspiciously like racism.)
To: E. Pluribus Unum
Looks like another good indicator.
30
posted on
03/31/2021 1:15:54 PM PDT
by
Oatka
To: Oatka
We are headed for Weimer/Venezuela territory.
31
posted on
03/31/2021 2:18:46 PM PDT
by
E. Pluribus Unum
(Anti-racism looks suspiciously like racism.)
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