Larry Summer says Build Back Better "may trigger the highest inflation in more than half a century".

[speak easy]

How Larry Summers went from Obama’s top economic adviser to one of Biden’s loudest critics

Summers worries that a reopened economy could rev out of control. Either a surge of demand overwhelms producers and sends prices soaring or the Fed will try to prevent that inflationary spike by abruptly hiking interest rates, plunging the economy into a new recession.

https://www.washingtonpost.com/us-policy/2021/03/29/summers-biden-economy-inflation/

Milton Friedman lite. Hiring that guy was the worst mistake Obama ever made.

[Voltaire2]

1. Larry can fuck off

and when he has fucked off, he can fuck off again and keep on fuckin off until he gets back where he started from, and then he can fuck off all over again.

Yo Larry why so silent in 2017, in 2020? huh?

[JNelson6563]

2. Pretty sure the translation here is

"I'm really pissed Joe didn't put me in his admin"

[speak easy]

3. +!

Yeppers.

[WHITT]

4. Yet

Both the current chair of the Fed, Powell, and the former chair of the Fed and current Treasury Secretary, Yellen, just don't see any runaway inflation.

Summers seems to have forgotten how many YEARS the Fed has been STRUGGLING in their attempts to get inflation UP to a normalized 2.5%.

[harumph]

5. Just another shill

[empedocles]

6. 'friedman lite' - good one

[speak easy]

8. Chile: Minton Friedman was a criminal.

Millions were condemned to permanent poverty.

[Ritabert]

7. Nobody listens to this clown

Bank interest rates to customers are .2%. How is that inflationary? People are using their stimulus checks to pay off back rent and utilities. How is that inflationary?

[Demsrule86]

9. Fuck off Larry Summers, we don't buy your shit anymore. Funny how you remained silent

when Trump blew up the deficit.

[Polly Hennessey]

10. Doesn't he always say that?

Hard pressed to know who cares what Larry Summers says??

[uponit7771]

11. ...IF ...IF taxes are not increased fire the rich, I agree

[karynnj]

12. Higher than the early 1980s 16 plus percent???

I doubt it.

[speak easy]

13. OPEC oil prices drove 1970's inflation,

Oil prices rose from $3.25/barrel in 1973, to $33/barrel in 1980.

[karynnj]

14. True - and that may have given us Ronald Reagan

[speak easy]

15. Ad Reagan befitted from the energy policies

Jimmy Carter put in place

[lagomorph777]

16. Same shit, different day.

I'm sick of that douche bag.

[-misanthroptimist]

17. Of course, Larry.

Summer's school of economics basically says that anything helpful to the "little" people is inflationary, budget busting, morally hazardous, or...whatever they can think up.

[PortTack]

18. The markets don't seems to think so!

[DFW]

19. So buy gold if you're nervous about inflation and Build Back anyway!

I realize that Larry Summers is probably well enough off not to be worried about some bridge collapsing under him, but he can still have a little sympathy for those that do.

[2naSalit]

20. Who f'ing asked him?