Friday, April 28, 2017

Tag: Larry Summers

Summers Warns of Financial-Crisis Risk From Trump Economic Plans

Former U.S. Treasury Secretary Lawrence Summers attacked the policy proposals of Donald Trump on several fronts, saying the president-elect’s plans for deregulation were setting the stage for the next financial crisis. “The deregulation in some areas like finance is hugely dangerous,” Summers said Sunday in an interview on Fox News Channel....

Donald Trump believes the United States can get $1 trillion in new roads –...

Inside two weeks before Election Day, Donald Trump has finally released a plan to pump $1 trillion of new infrastructure spending into the U.S. economy. He says it won't cost taxpayers a dime. Trump's economic advisers have embraced a modified version of a theory some liberal economists have been pushing for...

The Most Important WikiLeak – How Wall Street Built The Obama Cabinet

Perhaps the most startling discovery of the WikiLeaks dumps so far didn't come from the most recent emails surrounding the various Hillary scandals, though there are many great ones, but from 2008 when John Podesta served as co-chair of President-elect Barack Obama's transition team. The email came from Michael Froman,...

The decline of the middle class is causing even more economic damage than we...

I have just come across an International Monetary Fund working paper on income polarization in the United States that makes an important contribution to the secular stagnation debate. The authors — Ali Alichi, Kory Kantenga and Juan Solé — use standard econometric techniques to estimate the impact of declines in middle...

The Federal Reserve is living in a fantasyland

The Fed has failed. Indeed, only the world-historical disaster engineered by the nincompoops at the European Central Bank has made America's central bank — the Federal Reserve — look remotely good lately. For eight straight years, under Republican and Democratic leadership, the Fed has behaved like nothing has changed since the...

A Call to Keep The Fed’s Balance Sheet

Using the balance sheet to promote stability and scrapping the zero lower bound are among the fresh ideas. Another Jackson Hole economic symposium has come and gone. Fed Up, a group that's pushing for lower rates and asking the Fed to pay more attention to minorities and workers, is thrilled...

The Fed has yet to take monetary reform seriously

LARRY SUMMERS is right; this year's Fed symposium in Jackson Hole was triply disappointing. In the weeks before the gathering, members of the Federal Open Market Committee (FOMC) publicly discussed their worries that the current monetary framework might leave the Fed unable to deal adequately with future slowdowns. They...

Years of Fed Missteps Fueled Disillusion With the Economy and Washington

Once-revered central bank failed to foresee the crisis and has struggled in its aftermath, fostering the rise of populism and distrust of institutions. In the past decade Federal Reserve officials have been flummoxed by a housing bubble that cratered the financial system, a long stretch of slow growth they failed...

Alan Greenspan wants the US to go back on the gold standard

"Under a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tangible asset. The abandonment of the gold standard made it possible for the welfare statists to use the...

The Android Administration

Google’s Remarkably Close Relationship With the Obama White House, in Two Charts. When President Obama announced his support last week for a Federal Communications Commission plan to open the market for cable set-top boxes — a big win for consumers, but also for Google — the cable and telecommunications giants...

Reform the Fed

Janet Yellen has betrayed the American people and will go down as one of the worst chiefs of the Federal Reserve in history. Her decision to raise interest rates earlier this week guarantees a continuing weak recovery, suppressed wages, and entrenched inequality. In response, the left should add a central...

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