Larry Summers on the Possibility of a Soft Landing

Former US Treasury Secretary Lawrence H. Summers dives into the most recent jobs data and why there is a 'long way to go' to get inflation down. Summers also discusses why countries may need to brace for a recession, and the current challenges facing China.
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[@josephl9619]

One of the few voices on economics i actively search for

[@wdai03]

You mean lord Palpatine / Darth sidious?

[@barrycalvert8219]

Because your foolish

[@fredschnerbert1238]

@@wdai03 Aww, did he come to your house and kick your puppy?

[@aaronrey2658]

Larry is 100% on inflation since Jan 21'

[@vuzzler1]

There is so much bull in this market I hope rid market crashes

[@davidkennedy8929]

Looks like house prices will take a hiding if interest rates go up even further! Not a bad thing in a way as housing is far too expensive.

[@williamandrews781]

Inflation is much higher than the official government reports. Unemployment is much worse than the official government reports.

[@Retotion]

According to?

[@rjdebruyn]

@@Retotion Look beneath the the surface. Jobs and unemployment is bad not good. Don't just look at the headline numbers.

[@blankditditxt]

The bubble keep getting bigger and bigger. Those thing he talked about will pop it and poop will be everywhere. Greed will ruin alot of people!!!

[@williamandrews781]

Americans talk about good wages, benefits, and paid time off, but then they want to buy cheap products from foreign countries with low wages. All those cheap products could have been made in the United States, and they could have provided good incomes for millions of Americans.

[@jimbojimbo6873]

We need a hard landing

[@malekmoqaddam5806]

Larry is not afraid to say that a hard landing is imminent. Those wages numbers point to higher inflation and the Fed is already late in fighting inflation. This means the Fed either has to raise rates at a faster rate or more likely will keep terminal rate at a longer period. Either case the result will destroy financial markets.

[@scottcody8498]

Larry is great, I wish I could have taken a course from him.

[@AnotherAmerican91]

He's been pretty spot on for about 2 years now .

[@alex772350]

Ofc my wage went up, everything costs more. N companies are charging more. 😒

[@tarapadasarkar3108]

Larry said below 5.. Now it was priced in 5. .. Current job report says f..off i dont care ever 5.25.. History says they are all wrong on economy.

[@JM-rf3lv]

Well my employer only gave us 4% raise so they could give the CEO 44% and the top 10 $87 million in stock options. Be a happy day when I’m done with this shit show and can move my 401k and won’t buy their products.

[@michaelparker3188]

Houses are in a bubble. It's going to pop! Cash is king. 😎

[@kraz007]

Larry always my favorite part of Bloomberg on Saturday morning 🌅

[@nicholasmakaroff9522]

This guy lies and misleads, have to change the channel

[@rjdebruyn]

Look beneath the surface people. The jobs report is bad not good. These are mostly lower paying service sector jobs where people are now being force to take on 2 or 3 jobs to make ends meet.

[@975gms]

Possibility of transitory inflation.

[@codyskopnik8897]

He's got that I'm a bullshitting democrat look on his face

[@dagsterblaster4973]

I'm a 30 yr wall street vet. Larry is making contradicting statements. On one hand he see's the Wiley Coyote moment, but then suggests we need terminal at 6. Reality is, our rates hit the same high levels of 2007. And what happened after 2007? And...that is exactly why long bonds zoomed once they hit the 2007 number, people with big money know that the economy is going to powerfully contract.

[@kylebeaton5604]

The rock god of economics

[@sailorbob74133]

Number one thing for pandemic prevention is to stop all gain of function research and sanction any individual or country that engages in it...

[@fredschnerbert1238]

Fauci is going to cure cancer with it...

[@lenashatat6901]

Did you say soft landing aka BOOM… we got it

[@Jfer8080]

I guess Larry will be wrong at some point but he’s been spot on for the past 2 years.

[@tonynunez6539]

Billionaires and multimillionaire are making too much money and not paying enough in taxes. The Trump tax cuts for the wealthy was a very bad idea. We need more good paying middle class jobs that make low cost quality products.

[@damianrudegeair3064]

Bitcoin. Truth.

[@stanfung5007]

It should be to the best interest of US and EU to have China economy grow since its spillover effects are positive on the rest of the world (as it happened previously). Thus, it should be to the best interest of the US and EU to help China manage its opening up and population vaccination strategies by providing a "respectful" off-ramp to adopt MRNA and BNTX vaccines.

[@chadwickbradbury8390]

The labor market is super super super weak like so weak it’s horrible

[@Adx___]

Idiot

[@nothingisgiven8364]

Wages lag from cost of living which is predominantly driving by rent.

[@Alex-pr6zv]

Rising intrerest rates and falling housing prices can only mean one thing: glug, glug.

[@NipponStiqqyPaint]

Can’t wait to start cleaning all those pools. I’m a deep ender personally

[@SodiumGated]

Michael Bloombergs top henchman 😂😂😂😂🤣🤣

[@northharriscollege]

He is playing his role perfectly

[@jet4tv]

Larry's been around too long, loves the sound of his own voice too much!

[@arthurgol500]

Please, give us a recession!!! please

[@fredschnerbert1238]

>>“Several months ago, 3.5 percent mortgages were commonly available,” Bordo said. “At that price, an 80 percent mortgage on the average home - $342k mortgage on a $428k home - would have cost $1,536 per month. At current rates, that same mortgage now costs $2,345 -more than $800 more per month.”

[@tg6892]

75 basis points in play for 12/14???

[@gqkev]

Larry has no clue

[@crickett6519]

Larry been right about everything and powell has been wrong

[@seandechene]

so never mind the slew of layoffs? lol

[@AnotherAmerican91]

The slew of layoffs is anecdotal evidence. America is not 3 tech companies in California. We added 260k jobs last month, we didn't lose jobs.

[@AnotherAmerican91]

That's a quarter million jobs literally every single month all year long. What fucking layoffs are you talking about? Just stop. You sound like all the analyst who keeping getting the jobs data wrong. Economics has no room for feelings logic.

[@seandechene]

@@AnotherAmerican91 a simple Google search of job losses says it all. Keep being that sheep they want sir lol. Keep being fed those lies lol

[@AnotherAmerican91]

@@seandechene I mean I work in the actual economy for clients. Every single company I know of is desperately trying to find employees.

[@seandechene]

Okay, we'll see what you say after a full year of increased rate hikes and inflation that isn't budging much.

[@barrycalvert8219]

There is 0% chance of soft landing

[@toram6210]

So when are we landing ?

[@albertoperin402]

Great

[@sonnyle1028]

Larry should have got the Fed Head job!

[@brucehoffman4010]

Great show

[@petermerelis]

oh Larry... so off the mark this cycle.

[@javonthompson658]

Let’s destroy labor force participation even more 😂😊

[@mmercato7174]

The Crash is already behind us Larry 😉

[@kennethrobinson5111]

Wage Spiral confirmed

[@lilperv]

Larry is way off here. Wages are a lagging indicator. Fed moved too fast, they don’t have enough time to match their market communication to the impact of their actions. Also Krugman js a joke.