The President-elect’s economic recovery advisor believes $2,000 checks will screw up the entire economy — and he’s not so sure you should get $600 checks either.
Grrr - I thought he was an idiot the first time I saw him interviewed - I will have to get more information on his background. Old article - as far as I am concerned worth reading...
It makes me crazy to see these geriatrics, apply old medicine to a new world - the economy of the USA, the developed world and the people in it are no longer the people that drove inflation in the 70s (just like they weren't the ones that drove inflation in the 30s).
The idea that somehow allowing wages to begin (not actually achieve) to catch up with the wage deflation of 4 years is inflationary, not preventing healthcare inflation and greed (not heard of any medicine other than Biden's successful reduction - in part - of vital prescription medicines), nor corporate greed-flation of foods and services - gee, I can save a little on the price of gas and power by shopping around - but the delivery charges explode beyond inflation by multiple factors every year with zero spent by the utilities on fixing the outdated, crappy delivery systems. Grrrr, again.
Don't even get me started on Water (Flint MI, anyone??).
Summers is an old brain addled fart, who like most in positions of influence today, is completely out of touch.
A 70s pilot wouldn't be allowed near a modern aircraft cockpit.
A 70's engineer is clueless except in 70s technology.
A 70s politician seems married to values long gone, and displaced by urgent needs unmet.
So a 70s economist, or Fed Chairman for that matter need to be replaced by engaged, in touch, bright people who represent all of us, including the younger generations - European governments get it - the old money here doesn't.
Grrr - I thought he was an idiot the first time I saw him interviewed - I will have to get more information on his background. Old article - as far as I am concerned worth reading...
It makes me crazy to see these geriatrics, apply old medicine to a new world - the economy of the USA, the developed world and the people in it are no longer the people that drove inflation in the 70s (just like they weren't the ones that drove inflation in the 30s).
The idea that somehow allowing wages to begin (not actually achieve) to catch up with the wage deflation of 4 years is inflationary, not preventing healthcare inflation and greed (not heard of any medicine other than Biden's successful reduction - in part - of vital prescription medicines), nor corporate greed-flation of foods and services - gee, I can save a little on the price of gas and power by shopping around - but the delivery charges explode beyond inflation by multiple factors every year with zero spent by the utilities on fixing the outdated, crappy delivery systems. Grrrr, again.
Don't even get me started on Water (Flint MI, anyone??).
Summers is an old brain addled fart, who like most in positions of influence today, is completely out of touch.
A 70s pilot wouldn't be allowed near a modern aircraft cockpit.
A 70's engineer is clueless except in 70s technology.
A 70s politician seems married to values long gone, and displaced by urgent needs unmet.
So a 70s economist, or Fed Chairman for that matter need to be replaced by engaged, in touch, bright people who represent all of us, including the younger generations - European governments get it - the old money here doesn't.