Sunday, January 8, 2023

Latest from Summers

 

Biden’s consigliere:




Nice guy!

6 comments:

Konrad said...

Larry Summers is a liar or a moron or both. Ever-increasing unemployment and increasing Fed interest rates will not stop inflation, since nothing is being done to improve the supply of goods and services. Chronic shortages will sustain chronic inflation.

Shortages and inflation feed each other. When average people cannot afford to pay $24.00 for a dozen eggs, the producers of eggs will have to reduce their operations. This will further worsen shortages, and further worsen inflation.

Summers doesn’t care. He is comfortable. It is not enough for him to enjoy his little paradise. He has to compulsively crow about how the peasants will suffer.

Matt Franko said...

Well that all may be but heres Biden: “Stay the course!”

Konrad said...

Democrats, establishment Republicans, and fake "conservative" pundits all resist change. They all scream when someone tries to improve things. They physically assault that someone on the floor of the US Congress.

Peter Pan said...

Captain Brandon of the USS Titanic is staying the course...

Ahmed Fares said...

Ever-increasing unemployment and increasing Fed interest rates will not stop inflation, since nothing is being done to improve the supply of goods and services.

Interest rates work on the demand side.

They said that food inflation could not be corrected with higher interest rates because food demand is inelastic. It isn't. People are skipping meals.

Remember the Maduro Diet? Someone wrote a book about it.

The Maduro Diet: How three-quarters of adults in Venezuela lost an average of 43 pounds in two years Paperback

Matt Franko said...

Yo they have increased rates and are reporting that inflation is coming down… it’s apparently working…

That’s why Biden people telling Fed to stay the course…