Posted on 03/11/2022 5:56:48 PM PST by ChicagoConservative27
BREITBART
On Friday’s broadcast of ABC’s “GMA3,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers called on the Federal Reserve to raise interest rates and signal that further interest rate increases are coming and argued that the Federal Reserve can’t blame inflation on the coronavirus pandemic or the war in Ukraine, and the Biden administration can’t blame corporate greed for inflation because, at its core, the issue is about “managing the level of demand in the economy.”
(Excerpt) Read more at breitbart.com ...
Exterminating 90% of the population would “manage the level of demand.”
How is it possible that I have this pegged better than the all-wise summers?
It's obvious that the issue is about a gazillion in free money out there chasing the goods. Basic econ says that demand is always unlimited. How ya gonna manage that?
“the issue is about “managing the level of demand in the economy.”
There’s only one way to do that.
At gunpoint.
L
Well it will probably start with impoverished nations of sub-Saharan Africa, then move to parts of Asia and Central America. As the stranglehold of fertilizer, fuel and food shortages deepen then developed nations will begin to succumb. No wonder they want to tax ammunition.
The man is positively brilliant.
What he is saying is that rather than increasing production of energy, as well as all other life supporting goods, the way to beat inflation is to quit or drastically reduce the purchase and use of energy products, food (chicken red meat, grains, etc.).
I wonder if he recommends giving up clothes to save the world. After all, rayon, wool nylon and cotton all require a lot of petroleum based products.
We are so lucky to have people like him in public service.
MORON.
1> The “demand” is there because you idiots flooded everyone with cash giveaways during the lockdown and demanded everyone get paid a “living wage”
2> Because YOU MORONS shut everything down you destroyed the supply which unironically increases demand as well because there’s LESS of everything to go around - EXCEPT PAPER MONEY THAT’S NOT WORTH THE PAPER ITS PRINTED ON.
3> then you MORONS go and start WW3 - further impacting supply and continue to print more money!
You’re AN IDIOT.
If you don’t raise the price of a product under heavy demand compared to available supply, you will run out of product. Then the price can be free, doesn’t matter.
Communists have demonstrated this many times, but some people are slow learners.
Missed it by just that much. No, it’s not the pandemic, the war, or “price gouging.” It’s the money supply. Always. If the money printed outpaces the goods and services, inflation is the only possible outcome. 45 years later, and we are going to have to do this all over again. Ugh.
Right, and opening our borders to all comers is an obvious solution to the problem of ‘managing the level of demand.’
This guy used to be the president of Harvard, but he lost that job because he made the mistake of wondering out loud if maybe the behavior of men and women might be different in some ways.
Yeah, it’s about managing gov’t “investing”...
And, icing on the cake, restriction of energy supplies by POTATUS, raising the price of at least one input into practically everything.
3> then you MORONS go and start WW3 - further impacting supply and continue to print more money!
You’re AN IDIOT.
I am of the opinion that most of them are idiots, but that at the very top there are master planners that like great chess players can foresee the result of a series of moves long before the moves are made.
For example, halting the Keystone pipeline by itself would not wreck the economy. Supplies would tighten up and the price would go up by a certain percentage, but life would go on.
But screwing up all of he drilling permits would make it a little more uncomfortable But getting into a fight with Russia and upsetting the world market in oil would certainly wreck the economy. Prices would go sky high.
Just a coincidence that all of these steps fell into place one by one,
If anyone can remember rush say this it sounds like there’s just “Too much consoomin’ goin’ on.
Amazing how the government controls how much we are allowed to consume. Or at least they think they have the right to.
Over the next three years I pray those bureaucrats in our current Idiocracy will suddenly remember their employers, us, are not pleased with their work and every single thing they do requires the consent of their bosses.
Proof positive that a unearned living wage is destructive. I want to be part of the last 10% standing just to be able to shoot with less clutter.
Come back, tomorrow.
Managing demand? Why are people trying to manage Supply a little better? The excess of Supply brings prices down, the increase in demand brings prices up. If you try to manage demand then you are trying to manage or reduce people buying. That may be great for how to get people to save money but it is not great for trying to re-establish a working economy
Somewhat true..Biden has tightened supplies of gasoline by banning exploration thus raising prices, but the real cause of inflation is too much money in the economy chasing too few goods. Biden’s trillions of dollars of spending financed with debt that is bought by the Fed and then used to print more money and fuel inflation.
These same economic illiterate creepozoids would, no doubt, implement ‘from each, according to their ability, to each, according to their need.’
The influx of freeloading invaders isn’t helping matters also. Two million illegal foreigners came in last year and they are shopping at our stores and buying gas the same place we do. Supply and demand.
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