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  • Summers Warns of 1970s Crisis If Central Banks Relent on Rates

    From bnnbloomberg.ca

    Going soft on inflation will plunge economies back into the recessionary depths of the 1970s and have “adverse effect on working people everywhere,” former US Treasury Secretary Larry Summers warned. The remark is a response to suggestions from economists including Olivier Blanchard, a former International Monetary Fund chief economist, who have suggested lifting inflation targets from 2% to 3% to avoid recessions. “To suppose that some kind of relenting on an inflation target will be a salvation would be a costly error, it would ultimately have adverse effect as it did in a spectacular way during the 1970s,” ... (full story)

Consider this, the geniuses that shut economic growth down for covid, then discovered that transitory was rather permanent.
So now they will shut things down by making credit driven growth difficult.
This way inflation is only transitory a second time.

In the meanwhile Time has marched on and nothing will be getting built a second time go round. But this is all supposed to work out just wonderfully cause well you know, cause they say so.

The credit driven growth model is coming apart as institutional failure continues in 2023.
Bloomberg plays on both sides. Their aim is to manipulate the market )
why USA economy suddenly so bad ??
All my analysis is based on Wyckoff Methods
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So, why is Yen improving when they haven't touched their rates in YEARS?
Summers lol. Still stupid
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  • Story Stats
  • Posted: Jan 20, 2023 6:56am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 5  /  Views: 1,608

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