Former US Treasury Secretary Larry Summers, who faced criticism from the Biden administration in 2021 for saying inflation would rise in the US, predicts that the US will likely see a recession in the next two years because of an "overheated" economy and says he expects interest rates will continue to rise. #CNN #News
He predicted US inflation would rise. Hear what he thinks about a recession
Don’t listen to what they say see what they do and what’s the reality. Or just be a fool
Fight—> https://youtu.be/YvRuOylYDtk
If you had an extended period of time where (lending) money was essentially free and inflation was very low it doesn’t take a genius to ‘predict’ inflation will rise. The real question is perhaps why it took so long…
No problem as long the carrier group still can navigate to interfere other countries
We can lower demand by sending ppl to work from home!! We did it for 2 years it’s absolutely possible to do. Lower demand lower gas prices!
Last fight https://youtu.be/pq9yyaZ25YI
yeah store employees stay home! truckers work from home lol & doctors just stay home! 😂😂
Citizen debt is going up and there’s no sign of stopping. You think we can just hold in there? How about companies start paying LIVEABLE wages? It was bad before but now it’s impossible for everybody to live in the state of our country
I plan to not buy unnecessary stuff for a couple of months.
I’ve also notices teens are now thrifting for clothes instead of buying new.
Don trimmed the Larry S conversation very skillfully
In 1996 I was thinking about buying my first house and I remember mortgage rates st like 7.5-9.0 percent. I did not buy. But house prices were a quarter of what they are now.
I also remembered getting g a CD at the bank during that time and making 5% interest on my money. By 2000 or 2002 interest on savings has been like 0 percent. 20 years of no interest on savings for the common worker.????? What is the problem with our country?
I bought my first home in ’97 at 8-1/4%. Was THRILLED to refi in ’02 at 6-3/8. My current home is fixed at 2-7/8%. Who would have thought it? BTW, I can remember CDs paying 20% back in the mid 80s. Home loans were like 18%.
The problem with families is that you’re actually just creating more tax slaves, child and parent will rarely have any time for each other. No one can be educated enough for what is to come, nor socialized enough to be happy. What is given for education is laughable propaganda in most of the world, and its mandatory.
We can make it different, but we would need a new system more concerned with humans and the planet than growth.
@Do. or or do not. There is no try. Rex I see more than that, I’m not even American and I pay for you too.
Add higher tax to chinese goods, 75% minimum
How could it not? Doesn’t last forever and COVID took a big part of keeping going out of the mix. Now war on top of that. Wow, what a genius.
We all predicted this. Let’s here more about solutions
Nice to see Don Lemon trying to save his show by leaning ever so slightly to the middle. Give us the news, not your political views thanks.
@Piccalilli Pit I think Yoda said something similar
@Powerage Scott the only one who brought up fox is you lmao
Isn’t this the guy who cost Harvard’s endowment $2 billion with his bad investments? Talk about failing upward.
If the plan is to rely on the federal government to pass meaningful legislation to help us then we’re already screwed.
You know what’s finished his presidency he can’t even get his own party in line they have the majority they could pass whatever they want.
More than 6,000 everyday products get their start from oil, including dishwashing liquid, solar panels, food preservatives, eyeglasses, DVDs, children’s toys, tires and heart valves. Here are some of the common petroleum products that are an important part of our modern lifestyle.
Huh oil important sloppy joe
Wow Don Lemon actually reporting the news. 👏
Yea I’m surprised too but wait till he gets a Republican (not anti-Trump) to interview and see his radical far left approach
He fears for his job
Every intelligent person predicted inflation would rise once the Fed and Treasury started printing $Trillions to infinity starting spring 2020 to prop up an unstable repo market, pump up the markets before the election, allow Congress to send free money to friends, and oh yeah give a few crumbs to working people struggling with COVID effects. The explosion in M2 money supply growth, along with supply chain disruptions and price gouging to protect profits add up to the inflation we see now. Not to mention that the headline numbers are way understated. This is a self-inflicted wealth-destroying disaster, current and future generations turned into indentured servant to pay the debts and invisible unavoidable tax of inflation. Larry Summer is a has-been “economist” whose only talent is getting a great agent that books him on every financial news channel, almost daily.
You explanation of the cause of inflation is incorrect!
@Erick Borling but u offer no other explanation
Watch the birth rate drop significantly.
Higher interest rates, higher rents, higher gas/utility bills, higher costs of basic groceries.
Couples would be nuts to be adding the extra cost of bringing a child into their lives now.
Doesn’t even factor into it. He poorest countries in the world have the highest fertility rates, in fact the more developed you become it seems to make you less likely to have kids.