Posted on 05/25/2021 7:51:05 AM PDT by ChicagoConservative27
Larry Summers, a former economic advisor to former President Barack Obama, warned President Joe Biden on Monday that inflation is a looming threat to the United States economy.
“Now, the primary risk to the U.S. economy is overheating — and inflation,” Summers wrote in a Washington Post op-ed published Monday evening.
(Excerpt) Read more at breitbart.com ...
Government is the primary risk to the US economy.
When even Obama’s underlings are alarmed, you know the United States is in deep dung under this administration.
Looming?
LyinHidenBiden doesn’t care. He will just put the printing machines into over-drive to fund his crap. He and his handlers have NO idea how a macro-economy operates. I doubt he could even balance his checkbook.
BINGO,
Inflation is already here and I’m not sure that many Americans understand how insidious it really is. The government will try to tell you its a sign of a robust economy, but its really an invisible, wealth crushing tax. Especially on the lower and fixed income groups.
Warning Biden. That’s really funny. Joe Stolen has no clue. The only thing he knows is nap time, and what kind of pudding he wants.
Actually, the unsustainable national debt is the number one threat to the economy. Inflation that will drive up interest rates payable on that debt is the match that will ignite the crisis
Joe needs his rest, man.
Yeah, better ice that economy a little more to stop the overheating.
(And yes, the inflation problem is real.)
Inflation the primary threat? What about the villians DOING the inflating? (Hint: It’s not that bad orange Man )
“What about the villians DOING the inflating?”
Do you suggest that some benefit by inflation?
How does that work? This is a slippery subject for me.
Now, the primary risk to the U.S. economy is overheating...
Overheating will be his primary postmortem risk.
See post #7. He gets it. The Government increases the money supply out of thin air. This legal counterfeiting pays their bills but is felt in the marketplace as inflation.
“The Government increases the money supply out of thin air.”
Does government create it out of thin air or do they loan it and expect it to eventually be repaid with interest?
My thought is that yes they loan it but a lot of it never gets paid back and so there is no contraction of the money supply.
They have a bank account with x dollars in it. With a few keyboard strokes it becomes x+y. The also just print out the money. It only costs 5 cents to make a 100$ bill. Easy work if you can get it.
It's called "Seigniorage". Same with the U.S. Mint. When it coins a 50c piece, they subtract the cost of production from the face value and put the rest on the books as profit. That was OK when money was gold and silver. When they went to clad coins, they made out like a bandit.
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