I Keep Hoping Larry Summers Is Wrong. What if He’s Not?

[ogc163]

How can all the other stuff be "irrelevant"? That doesn't even make sense to me.

It is irrelevant to this discussion of inflation.

 

[ogc163]

But not the American Rescue Plan which is central to Larry Summers argument. Also if you're taking him at face value without caring about his past or who's currently on the bank roll for I don't know what to tell you. Some of y'all are way too willing to listen to obvious ghouls who have none of our best interests in their arguments.

Aight then engaging with me on this topic will be a waste of your and my time then.

 

[Godless Socialist CEO]

Aight then engaging with me on this topic will be a waste of your and my time then.

Fair enough

 

[mastermind]

What is their obsession with this fat ass fraud?

Because he is a shyt corporatist who corporate media love hearing.

 

[phcitywarrior]

Summers had been warning since that the Fed overplayed it’s hand concerning monetary policy and stimulus during the pandemic. A lot of people dismissed his warnings as quackery…it’s looking like he was right

 

[DEAD7]

The willingness to ignore factual information and/or valid observations based solely on the source never ceases to amaze me.

 

[CrimsonTider]

Summers had been warning since that the Fed overplayed it’s hand concerning monetary policy and stimulus during the pandemic. A lot of people dismissed his warnings as quackery…it’s looking like he was right

I don’t think he’s right at all

 

[phcitywarrior]

I don’t think he’s right at all

I think his allusion to monetary policy excess driving inflation was correct. Additionally, he was a critic of the Fed saying consumer inflation would be “transitory”. The former some will debate if it’s money printing or company’s raising prices, but the latter has proven true.

Another thing to note is the manufacturing price index (index of manufacturing costs) was up like 10% YoY which would suggest input costs are rising as well, not just that companies are charging more.

 

[CrimsonTider]

I think his allusion to monetary policy excess driving inflation was correct. Additionally, he was a critic of the Fed saying consumer inflation would be “transitory”. The former some will debate if it’s money printing or company’s raising prices, but the latter has proven true.

Another thing to note is the manufacturing price index (index of manufacturing costs) was up like 10% YoY which would suggest input costs are rising as well, not just that companies are charging more.

It is transitory

 

[phcitywarrior]

It is transitory

Even Powell came out and binned that term transitory inflation. This inflation is getting sticky

But you got it breh

 

[DEAD7]

It is transitory

“Transitory” is such a meaningless political term in this context.
Both 10 months of inflation or 10 years can be considered “transitory”… the term in no way means we won’t be dealing with this for a long long time.



“Transitory” has been appropriately bushed, a lot of this inflation isn’t going anywhere, anytime soon

 

[CrimsonTider]

“Transitory” is such a meaningless political term in this context.
Both 10 months of inflation or 10 years can be considered “transitory”… the term in no way means we won’t be dealing with this for a long long time.



“Transitory” has been appropriately bushed, a lot of this inflation isn’t going anywhere, anytime soon

That doesn’t mean it isn’t transitory

once Supply chains are able to supply decent amounts of inventory prices will fall

 

[phcitywarrior]

That doesn’t mean it isn’t transitory

once Supply chains are able to supply decent amounts of inventory prices will fall

And well will that be? Lagarde and the ECB and Powell at the Fed have both bushed that term transitory.

Supply chains may never be restored to their pre-pandemic state as some countries are looking to pivot out of China/decrease their reliance on foreign manufacturers.

I just got off a presentation on US Economic outlook by a major financial institution. They’re forecasting inflation to be higher than the Fed’s 2% target till at least mid 2023.

That’s transitory right?

 

[Consigliere]

Even Powell came out and binned that term transitory inflation. This inflation is getting sticky

But you got it breh

I agree that it’s going to stick.

The company I work for hasn’t raised rates on services in the last 5years. We’re going to take advantage of the current situation to take a bigger bite than we normally would. Some of its nuisance pricing, some of its overdue, some of its because there is more demand than qualified people available to do the work… and of course some of it is Consigliere needs a boat.

This is happening all across the economic spectrum. I don’t think it’s going to stop until demand decreases.

 

[DEAD7]

I agree that it’s going to stick.

The company I work for hasn’t raised rates on services in the last 5years. We’re going to take advantage of the current situation to take a bigger bite than we normally would. Some of its nuisance pricing, some of its overdue, some of its because there is more demand than qualified people available to do the work… and of course some of it is Consigliere needs a boat.

This is happening all across the economic spectrum. I don’t think it’s going to stop until demand decreases.