The economy has many problems. But the labor market hasn’t been doing this well in many decades.
  • jimmydoreisalefty@lemmus.orgEnglish
    01·
    1 year ago

    Let us see if Bidenflation is much better closer to 2024…

    At any rate, I will have to admit that I have a personal stake in this debate. Back when the American Rescue Plan was being debated, I argued against Larry Summers’s notion that its size should be slashed because it might cause inflation. I said the balance of risks was not even close—on the one hand a continuation of the economic lost decade of the 2010s, but on the other some inflation that would cause only moderate pain. Inflation did come—and while I don’t believe Summers was right about the causes, which were more about the pandemic and the war in Ukraine than Big Fiscal, it did turn out to be quite unpopular.

    The Lawerence Summers that blamed inflation on Jan. 6 2021, this is the person people are looking for advise?

    Jimmy Dore did a video on him on Jun 15, 2022.

    Obama Advisor Ties Inflation To January 6 https://www.youtube.com/watch?v=z4L8PHBowpk