Posted on 03/05/2022 5:37:21 PM PST by ChicagoConservative27
On Friday’s broadcast of Bloomberg’s “Wall Street Week,” economist Larry Summers stated that “we’re now facing real risks of a 1970s-type scenario…the same kind of broad phenomenon of stagflation.” And that this is partially “a response to the excessive stimulation of the economy during 2021.”
Summers stated that monetary policy is effective at tamping down inflationary pressures, “but it may not be an effective tool without engineering a slowdown in the economy. The last dot plot has the Fed believing that three things are going to happen together: that inflation’s going to fall below three, unemployment’s going to stay well below four, and interest rates are never going to go above 2.5. I don’t think those things are all likely to happen together. And so, the Fed’s going to have to make some very difficult choices. I think that there’s much more danger that we’re going to do too little to contain inflation than there is danger that we’re going to do too much.”
(Excerpt) Read more at breitbart.com ...
Peter Navarro was RIGHT!
Sorry, missed it. Link?
It’s here. The prices on fuel are out of control, rising quickly. That inflates everything and will slow growth and lower real income.
They could put a stop to it and produce more American energy, but they won’t. They want us to get used to living with less.
Now that the American Regime has a foreign crises to worry about, maybe they won’t have as much time to spend trying to weaken, control, and dis-empower us.
Jimmy Carter Redux! I was just a kid, but I remember those grim years.
Bow the fall of 1983 has been mixed into the blender.
What we are facing resembles the 30’s, not the 70’s. Gird your loins. God is not mocked.
Warroom Pandemic, multiple times since about Nov, 2021.
The government says we have 6.8% inflation and 3.9% unemployment.
The MSM says everything is OK.
What are you talking about?
(sarc)
Local gas station hit 4.00 a gallon.
Cue 70s adult movie music.
Don’t worry about stagflation....
It will be but a temporary stop on the way to total economic collapse.
It already ran over us.
Enter war with Russia, so they can simply transfer the blame, and list anyone blaming it on the Democrats as a “traitor, who is giving aid and comfort to Putin.”
Slowdown in the economy? Wow - these people are truly clueless.
Buy war bonds—and don’t forget your ration cards!
14:46
I came of age during those grim years, hated the Peanut with a passion and proudly cast my first Presidential vote for Ronaldus Magnus!
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