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Non-Tech : Kirk's Market Thoughts
COHR 190.85+2.8%10:57 AM EST
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To: Winfastorlose who wrote (11525)7/1/2021 1:27:15 PM
From: Kirk ©  Read Replies (2) of 26737
 
Hard to believe he is a Democrat....

Larry Summers: Economy on 'problematic course'

Jun. 30, 2021 10:15 AM ET SA News Editor
  • Larry Summers, Harvard economist and former treasury secretary, said Tuesday that the U.S. economy is on a "problematic course" with authorities pumping liquidity into the system during a time when labor markets are tight.
  • In an interview with Bloomberg at the Qatar Economic Forum, Summers described the current policy decisions in the U.S. as "very intensely problematic."
  • The former treasury secretary questioned the wisdom of "extraordinarily low interest rates" and "extraordinarily big budget deficits" during a time of "an epic degree of labor shortage."
  • Summers compared the current economy to a car driving 100 miles an hour down an empty road, but warned that the road won’t always be empty.
  • "I don’t know what form the accident will come, but when you’re driving 100 miles an hour, it’s probably not actually the fastest way to get where you’re going, because you’re likely to have some kind of dislocation," Summers said.
  • Summers advocated a change in policy focus to pay more attention to the risks posed by high liquidity and the potential of asset bubbles.
  • "I’d like to see signals that overheating liquidity and bubbles are now seen as major risks facing the American economy," he said, adding that addressing these threats could cause short-term "volatility and upset."
seekingalpha.com
maybe a few of 'em still have a conscience.
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