Former US Treasury Secretary Lawrence H. Summers dives into the most recent jobs numbers and why he believes the Inflation Reduction Act is moving the country forward.
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Thanks to Trump's trade war with China, American consumers spent more than 25% on products from China that are sold in Walmart or Home Depot , the pandemic as well as the Ukraine War and sanctions on Russia make it even worse. Our President just spent another 60 bilions dollar so that Zelensky and his cronies can benefit from it.America First, MAGA! No more foreign aids!
Also known as, not enough people made poor
What.???? These guys are smoking _____. Folks are hurting and these aholes say we have too much money to spend.
Wages are not rising??? Where is inflation coming from. Not from the consumer
thank you I feel so much better now that you've blown all that smoke up my ass propaganda
Tax hike is never good for the little guy
700,000,000,000 BILLION DOLLARS ALL ON THE TAXPAYER IS A GOOD DEAL ?
THIS GUY HAS TO BE CRAZY ??
WITH INFLATION AS HIGH AS IT IS, DID ANYONE'S PAY GO UP BY 400% ?
If the economy is “overheating”, we should increase supply! The fact is, very few of US industries are prepared to meet the demand of the entire nation’s population. Remember when we didn’t have enough hospital beds throughout the COVID crisis? Is the problem that too many people are sick, or that we didn’t prepare for something that could affect everyone? Many of our industries should be reformed to be capable of meeting the demand of the entire population. I’m not encouraging widespread nationalization, but possibly a production-based tax cut for businesses based on the amount of customers they serve.
Everyone is prepping you people should figure it out, nothing is overheated. We are prepping now for the second year of survival.
When are we getting a value added tax like europe?
Larry is one of the only priests left with a little common sense. If the populist pivot post Epstein was intentionally crafted : Congratulations Larry you're no longer the most hated established policy wonk to come outta the DC trick house. John Connolly, Roberto McNamara, Goldman Sachs 2008 Amerikan mop up squad Hank Paulson and Tim Geithner Robert ain't got shit on My Hahvard Summers .
NAFTA Glass Stegall Dot Com LTCM Brooksly Borne…Larry I promise you'll be remembered by the plebs long after you're gone ol buddy. Until then may the Good Lord give you the courage to right some of the wrongs in your prime as penance for gutting Amerikan labor for the coordinated Global Collectivist Takeover. It should be known by now most of these cats never had good intentions when setting policy. Most of the klowns in the stank tanks are all Collectivist priests donning a Neoliberal robe
It's like a giant pimple 😫 that's about to leave a crater on your face. When it blows, get out of the way because it will spew all over the place. Buy silver, it's the cure for a nasty economy 🤪.
If the economy is so healthy, then have the FED raise the interest rates by 1% next time.
I have a full week of intention coming! And have lots to work on! Been so productive and aware the last few weeks! Really picking momentum up now! A small % gained for May! Missed a few moves! But after refinement I'm a lot clearer on what needs to be done
Inflation is a simple way to take away what little wealth the people have into the hands of the rich and no body is going to do anything about but let it ride on into the future
Overheated indeed, My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.
This guy wants every American to live in fear and poverty so they can be forced to take any s*** goddamn job he wants them to have and he wants to cure inflation on their backs. And people Wonder why the Democrats suck
A thumbs up for Summers to push against the insane spending of his party. A thumbs up for pointing out the fed is moving to slowly in raising rates and making this drag out. However, a big disappointment that he turns around and supports another supplemental near $trillion spending plan that will only create more inflation. The fed should not be the only responsible entity when it comes to money management and monetary responsibility.
So to reduce inflation, Government spends $740 Billion of tax payer money for climate change? 🤡
I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $60k. Somehow this video has helped shed light on some things, but I'm confused, I'm a newbie and I'm open to ideas.
Agreed with him until he said Brandon's folly is a good idea.
Now that people have three jobs, the numbers look real good. Let me tell you what I see. the homeless camp has tripled in size, the shelves can't keep stock, the food has mold, prices are up 30%, people have quit buying luxury goods, all the lakes are so low you can't even get around. I've never seen it like this, are you all blind or locked up in the mansion?
go look at Larry Summers history leading up to the financial crisis. I would ask this guy for advice on where to to to lunch.
That said, until you get control of the supply chain , your in a mess.
the most overrated economist on the planet that blows his horns post event.
Inflation is 25%…this guy is way off with a 5% inflation statement.
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he celebrates the extra fake jobs??
Guy is a bum
What a disingenuous clown
Praising this shitty new deal that will wreak havoc and weak Manchin. Thanks for wasted 10 minutes
THE. NEWS. ALSO. SAID. THOSE JOBS WERE. PRETTY. MUCH. HOTEL. JOBS. OH. BROTHER. RAISE. THOSE. RATES. !!
CPI and PPI says otherwise …. this has not aged well for Summers 🙂
Who listens to Summers? He's the one who botched the USSR privatization.
You don't find a much bigger loser than him
They will never close the loopholes for the rich because all the rich people will leave AMERICA just like ATLAS SHRUGGED!
This is the man who opined that the internet would never amount to much
Despite the economic downturn, I'm having the best time of my life financially. Earning over $83k in the last 2months with an investment of $19,000. Money can be made even in a bear market. Make the most of it.