Biden after meeting Summers this morning:
“No, I don’t think it is,” Biden said when asked if a recession is more likely than ever. “I was talking to Larry Summers this morning and there’s nothing inevitable about a recession.”
:yea:
Larry Summers needs a 100% headless rate to ease my blood pressure.
What the fuck is Summers talking about there was a 5% or more jobless rate from 1969 to 1996 and it didn’t do jack shit about inflation one way or the other. There was no correlation. If he was honest he’d probably say 8% or 10% for 5 years, that could break the economy. Except unlike the 70s there ain’t nothing left to privatize or financialize (well, we’ll see I guess) you only get to do neoliberalization once fucker.
Owning your people to own your economy to own inflation to own supply chains to own global south
They never seem to talk about lowering real estate prices in order to tamp down inflation, do they? Just wages.
“Hey Joe, why don’t we avoid the recession and slow the economy at the same time, this isn’t a contradiction”
“Sure thing, Jack!”
