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| Economy |
| Three down, many more to go. Lawrence Summers heads back to Harvard |
| 2010-09-22 |
| Posted by:Besoeker |
| #10 Karl Denninger: the only way out of this was [would have been] to pull liquidity and force the bankrupt to take their medicine, whether we wanted to do it or not. It doesn't matter if the rich and powerful banksters "think" this is a bad idea, mathematically it is not possible to inflate out of this, nor to stabilize the economy with ZIRP and QE. All we've done is enable the federal government to temporarily paper over the insolvency of half the population (and all of the major banks) by borrowing and spending 12% of GDP, building in even more damage that now has to be corrected and ensuring that even more pain must be suffered. |
| Posted by: Anguper Hupomosing9418 2010-09-22 14:35 |
| #9 Timing of his departure is allegedly due to tenure rules at Harvard. As excuses go, it's better than most: Though it would seem unlikely that Harvard would revoke his tenure if he stayed out longer, he does have some enemies over his old deviation from PC handbook with his comments on numbers of women in engineering. |
| Posted by: Glenmore 2010-09-22 13:10 |
| #8 ... my work here is done. |
| Posted by: CrazyFool 2010-09-22 11:14 |
| #7 The economy is coming back just as planned. The stimulus worked perfectly. We are on top of this. So we will quit our economic advisor. Huh? |
| Posted by: swksvolFF 2010-09-22 11:00 |
| #6 Not only do Mr. Summers and others within the administration lack the requisite financial and economic knowledge, their leftest, ivy league arrogance will not permit them to heed the advise of those who do have the knowhow. |
| Posted by: Besoeker 2010-09-22 10:27 |
| #5 When the going gets tough, the academics go back to the campus, running like hell away from the mess they caused out in the real world. |
| Posted by: No I am The Other Beldar 2010-09-22 10:27 |
| #4 Apparently Summers and other economic advisors didn't know $hit about what to do about the economy. Back to the safe haven of liberal looney left academia where there is no opposition. |
| Posted by: JohnQC 2010-09-22 10:19 |
| #3 1. "Blame your predecessor." check. 2. "Reorganize." in progress. 3. "Prepare three envelopes." - Three Envelopes |
| Posted by: Procopius2k 2010-09-22 09:12 |
| #2 LarryÂ’s brilliance, experience and judgment was willing to answer the call and lead our economic team.Â’Â’ Into the abyss !! |
| Posted by: armyguy 2010-09-22 07:25 |
| #1 Larry, look for 0's transcripts when you get there... |
| Posted by: Beavis 2010-09-22 07:04 |