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

[phcitywarrior]

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.

And I think the bolded is central to what Summer’s was saying. The Fed through monetary policy, artificially inflated demand when inventory and supply chains were low.

The velocity of spend is still high but sticker shock is starting to creep in for consumers. It usually takes a couple of months for the higher prices to really settle in before people take notice.

 

[ogc163]

"Hexapodia" is þe Key Insight XXXIII: Inflation!

At the 34:20 mark Economists Brad DeLong and Noah Smith (Both Keynesians, but maybe not progressive enough for some) discuss the Reich/Warren monopoly based inflation argument.

 

[ogc163]

 

[Godless Socialist CEO]

Larry Summer fukking hates the average American and want's them broke and desperate. He's one of the biggest reason people ended up homeless in 08 while banks got fat off of bailout money. fukk him and I hope that fukker gets (redacted) very soon

 

[ogc163]

Larry Summer fukking hates the average American and want's them broke and desperate. He's one of the biggest reason people ended up homeless in 08 while banks got fat off of bailout money. fukk him and I hope that fukker gets (redacted) very soon

Thanks man, this post provided great value. All the uses of fukk were very impressive.

 

[Godless Socialist CEO]

Thanks man, this post provided great value. All the uses of fukk were very impressive.

You posted a dude who's sole solution to doing anything in the economy seems to be destroying the average Americans way of life and bank account while bending over backwards for corporations. fukk did you expect? He's always fukking wrong. Stop posting him

 

[ogc163]

You posted a dude who's sole solution to doing anything in the economy seems to be destroying the average Americans way of life and bank account while bending over backwards for corporations. fukk did you expect? He's always fukking wrong. Stop posting him

No.

 

[Godless Socialist CEO]

No.

fukking bootlicker, I told you what the cause of inflation was at the beginning of this thread and that summers was a piece of shyt and wrong as usual. Katie porter literally destroyed any argument this c*nt summer had a few weeks ago

Stop posting anything out of that c*nt piece of shyt mouth. He sucks

 

[ogc163]

fukking bootlicker, I told you what the cause of inflation was at the beginning of this thread and that summers was a piece of shyt and wrong as usual. Katie porter literally destroyed any argument this c*nt summer had a few weeks ago

Stop posting anything out of that c*nt piece of shyt mouth. He sucks

You in your feelings heavy, when you get out of them I may engage with you. Until then I'll be ignoring your tantrums.

 

[Godless Socialist CEO]

You in your feelings heavy, when you get out of them I may engage with you. Until then I'll be ignoring your tantrums.

He responded to this specific argument in the interview, but I am open to him potentially being wrong.

Do you have any studies/research showing that inflation has been primarily driven by price gouging?

this you?^^^^^

fukking bootlicker, I told you what the cause of inflation was at the beginning of this thread and that summers was a piece of shyt and wrong as usual. Katie porter literally destroyed any argument this c*nt summer had a few weeks ago

Stop posting anything out of that c*nt piece of shyt mouth. He sucks

Just admit I was right and move the fukk on. Bootlicking loser

I told you what drove inflation 7 god damn months ago

 

[mastermind]

Summers is wrong like shyt

 

[ogc163]

this you?^^^^^



Just admit I was right and move the fukk on. Bootlicking loser

I told you what drove inflation 7 god damn months ago

You are not right, you are wrong. I've responded to the silliness regarding greedflation in several threads on this forum.

And I posted the Smith and Delong discussion to showcase that even leftwing Keynesian economist don't take that nonsense seriously.

Further, Greedflation is an emotionally driven argument which works on people like yourself who analyze things from a hero vs villians perspective.

But I'm confident you'll continue responding like a child.

 

[ogc163]

 

[Godless Socialist CEO]

Look at the fukking date of that tweet look at the date on mine

 

[ogc163]

Summers is wrong like shyt

Wrong about what?