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"Former U.S. Treasury Secretary Lawrence Summers warned that developed countries are badly equipped for another recession, both economically and politically, and central banks should be wary of raising interest rates just to stop inflation running slightly hot.
"Another?" We haven't had a real recession in over 3 decades.
"Former U.S. Treasury Secretary Lawrence Summers warned that developed countries are badly equipped for another recession, both economically and politically, and central banks should be wary of raising interest rates just to stop inflation running slightly hot.
...
His comments echoed sentiment earlier on Monday by billionaire hedge fund manager Paul Tudor Jones.
“The next recession’s really frightening because we won’t have any stabilizers,” Jones said on Yahoo Finance. “Monetary policy will exhaust really quickly” while fiscal stimulus won’t be available."
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They're a bit negative. We can start running $2T deficits, and well... taxing the rich a bit more.
We are still on the $36Trillions national debt by 2024 trajectory... We won't get there without some $2T/yr deficits.