He said: "Maybe it won't happen this time."
I said: "I can assure it will. It does, every single time in history and it will happen here, too."
I think I bummed him out.
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 ...
Did you know that the Bidens were married in a bathtub? They had a double ring ceremony.
Printing money out of thin air causes inflation. Who knew?
Oh, NOW somebody is worried about inflation? You want to see the real impact of inflation, watch real estate prices even in a depressed market. And how about Bitcoin? THERE is a Ponzi scheme waiting to collapse.
Summers is one of my favorite democrats. Dick Lamm was the other. Summers knows more about women than the others. For that reason alone I doubt if he gets laid as much as the rest of em’.
Ya think.
One lil side note - Notice at the bottom, unfunded liabilities. Promised benefits that have not been funded. This number was $159 Trillion only a few short weeks ago. Now it registers $162 Trillion.
Congress...Democrats and Republicans are spending us into insolvency and a major financial crisis.
https://usdebtclock.org/
Watch the pandemic birdie. Mask mask mask, climate change, China the slant eyed boogie man...all the while monumental fiscal mismanagement that will steal our retirements and our children's prosperity.
Too late to worry about that now.
Inflation is here with an attitude.
Ya think?
The government has failed. Unfortunately, half the people are fine with the failure and will pull us down with it. The debt numbers are staggering. One day we will live “one second after” and society as we know it will stop and we will be looking at each and say it finally happened or how did we get here.
If Summers isn’t right about this, I only have one question: Why not just pay everyone at least $10,000/month and eliminate poverty?
Finally, an expert is admitting that they have been fiddling with the gas-lights.
Yep. $60,000 for bits on a computer?
‘Rats are the “Party On!” Party.
It’s not a bug, it’s a feature.
See tagline.
Yay! One democrapcommunizt did the homework in Econ 101 - shocking.
Fire up the Printing Presses Full Speed, add a zero to all denominations, we all gonna be Rich!!
STOP THE PRESSES! LET’S BRING BACK THE 5 CENT CANDY BAR!
When politicians particularly members of today’s in name only democrat party started pushing for a higher minimum wage. The focus should have been on purchasing power of the lowest coin of the realm. Each time it was passed the price of an item like an individual candy bar and everything else increased. What began at 5 cents in the 1940’s was when the minnimum wage was 50 cents an hour . As the rate steadily increased so did candy bar prices to what it is today. The result has always been since it began devaluing the purchasing power of the dollar.
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