Oh Great... Here Comes Larry Summers
If you lose your bet on the Kentucky Derby tonight, throw your television off the balcony. That way you don't have to listen to this economist on Sunday morning.
Great…
Tomorrow, economist Larry Summers is set to weigh in on the current economy on the Sunday morning talk shows.
Spare me.
Summers finally got something right three years ago when he warned that the U.S. government had overstimulated the economy with excessive fiscal policy.
But now, he’ll likely criticize the Trump administration’s tariffs... He joins the long line of experts who have something to say… Not that I’m defending Trump… but I would just like the answer to two questions for any critics. Because they warrant answers.
What is Summers plan to address the extreme and persistent trade deficit with China?
What is his plan to restore U.S. industrial capacity hollowed out by the strong dollar and reserve status dynamics?
This isn’t academic.
Because the tariffs are a response to decades of challenges that land on Summers’ desk.
Summers was a key architect of the global trade framework that empowered China.
He supported China’s Permanent Normal Trade Relations (PNTR) status and WTO a…
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