Home > Uncategorized > Balance of financial terror, Mr.Summers?

Balance of financial terror, Mr.Summers?

Harvard University professor Lawrence Summers will join the Obama administration with a ready-made sales pitch for substantial economic stimulus and a chance that the role springboards him to the Federal Reserve.

Summers, 53, was Bill Clinton’s last Treasury secretary. He will have a wide-ranging portfolio and help craft Obama’s economic policies, a Democratic aide said. Summers’s appointment, along with the nomination of Federal Reserve Bank of New York President Timothy Geithner to be the next Treasury secretary, will be announced Nov. 24, the aide said. (via Bloomberg.com: Economy)

Balance of financial terror Mr.Summers?

This has been something that Lawrence Summers created. Much of the economic growth seen during Clinton’s Presidency was due to this ‘policy’. It is something else that the chickens came home to roost at the end of the Bush Presidency.

What can the world expect?

More of the same. The same profligacy, the same brinkmanship. After why should the US change from what has served them well for so many years.

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