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Posts Tagged ‘Larry Summers’

The Fed has had almost no success gently bring down inflation once an economy has started to overheat.
The long-run threat (facing the economy) is that we will cease to be one effective country.  Whether that’s a failure of public investment in everything ranging from collecting the taxes that are owed – where there will be $7 trillion in taxes that are owed but not paid over the next decade;  that is a huge loss to the government  …  [and] a huge source of injustice because most of the nonpayment comes among the highest-income Americans.  Whether it is the fact that at the early stage, we were dependent on other countries for masks, and we were not well prepared for a pandemic, despite the fact that there had been repeated warnings that a next pandemic would come.  Whether it is the fact that it takes half an hour longer on the schedule to fly from Boston to Washington that it did when I first started taking the trip regularly 40 years ago.  This falling-apart of society is our greatest long-term threat.
I think another important part of the calculus is that when governments lose control over money, people tend to lose confidence in them.  Progressives need to ponder the fact that when they’re not able to keep inflation under control, they can pay a very large political price.
    —     Larry Summers
Former Secretary of the Treasury
In an interview with / by:  Eben Shapiro
The interview was titled:  “The Leadership Brief: Inflation worries are keeping Larry Summers up at night
Appearing in:  Time Magazine;  dtd:  21/28 June 2021
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On This Day In:
2021 Questioned By Life
If There’ll Come A Time
2020 Trying To Grow Pearls?
2019 Instantly Turned
2018 Sitting
2017 No Right Way
2016 Still Ticklish
2015 Maybe Sooner Than You Think
2014 The Path Of Mastery
2013 Love’s Ignorance
2012 Here’s To Enjoyment
2011 Not Just The Facts, Ma’am

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