The video touched on the problematic possibility of inflation, as well as the 75%-chance probability of recession. Towards the end of the video, though, Larry Summers commented that he does not truly understand the argument that people who work for livings and earn money for them, via investments towards those who are very rich, should pay their taxes at half the rate that the rest of people do and people who earn money do. Larry considers this to be wrong, and while I am actually not familiar with this argument, I will say that, based on how it sounds, I must concur with Larry. It sounds as if it is saying, "only if you have this kind of job, then…
For my second blog comment I chose the news segment in “The Coming Economy”. In this segment Larry Summers, Former United States Secretary of the Treasury, explains that although inflation seemed to be steadying out for a while, the numbers are volatile and will continue to change. He predicted that it would continue to get worse and that we should “predict for some turbulent times ahead” in reference to inflation. Later in the video he also predicts that there is a 75 percent chance of recession occurring. I feel that media like this is important for people to read and understand. When it comes to market economies that rely on the production of goods and services, such as the United States, inflation is going…
“The Coming Economy” by MSNBC provides insights by Larry Summers to analyze the July of 2022 inflation. Even though this number was a staggering 8.5%, this was still lower than predicted. Inflation decreases the purchasing power of money and increases the costs for basic everyday goods. Mr. Summers is the former treasury secretary and believes the inflation is going to stay around for a while and predicts a recession in the next two years. Even though the inflation is leveling off and the consumer price index is steady, there is still a serious inflation problem. Long term bonds have lower interest rates than short term bonds suggesting that there is a significant amount of uncertainty by consumers and business. Larry…
"The Coming Economy" MSNBC news report went into detail about the CPI (Consumer Price Index) and how was inflation was faring in July of 2022. Conumser Price Index is an index that measures the average change in prices paid by consumers for goods and services over time. This is one of the most popular measures of inflation. The guest Larry Summers, who was Bill Clinton's former Administration Treasury Secretary, goes into how yes the inflation year over year for July was less than what economists expected at 8.5%, he still advised caution. He goes onto say, “We have a very serious inflation problem in this country. I don't think that inflation problem is going to go away of its own…
The "Coming Economy" is about Larry Summers acknowledges that the current inflation dynamics may differ from those observed in March, emphasizing the need for additional data to gain a comprehensive understanding of the situation. He underscores that inflation remains a significant concern in the United States and is unlikely to naturally subside. Summers points out that the core inflation rate has outperformed expectations, primarily due to the notable contribution from sectors such as hotels, airlines, and the pricing of used cars. Moreover, Summers suggests a high probability of an impending recession, even though each successive period without a recession diminishes the likelihood of one occurring. Additionally, the Inflation Reduction Act is anticipated to bring about significant changes with respect t…
The video touched on the problematic possibility of inflation, as well as the 75%-chance probability of recession. Towards the end of the video, though, Larry Summers commented that he does not truly understand the argument that people who work for livings and earn money for them, via investments towards those who are very rich, should pay their taxes at half the rate that the rest of people do and people who earn money do. Larry considers this to be wrong, and while I am actually not familiar with this argument, I will say that, based on how it sounds, I must concur with Larry. It sounds as if it is saying, "only if you have this kind of job, then…
For my second blog comment I chose the news segment in “The Coming Economy”. In this segment Larry Summers, Former United States Secretary of the Treasury, explains that although inflation seemed to be steadying out for a while, the numbers are volatile and will continue to change. He predicted that it would continue to get worse and that we should “predict for some turbulent times ahead” in reference to inflation. Later in the video he also predicts that there is a 75 percent chance of recession occurring. I feel that media like this is important for people to read and understand. When it comes to market economies that rely on the production of goods and services, such as the United States, inflation is going…
“The Coming Economy” by MSNBC provides insights by Larry Summers to analyze the July of 2022 inflation. Even though this number was a staggering 8.5%, this was still lower than predicted. Inflation decreases the purchasing power of money and increases the costs for basic everyday goods. Mr. Summers is the former treasury secretary and believes the inflation is going to stay around for a while and predicts a recession in the next two years. Even though the inflation is leveling off and the consumer price index is steady, there is still a serious inflation problem. Long term bonds have lower interest rates than short term bonds suggesting that there is a significant amount of uncertainty by consumers and business. Larry…
"The Coming Economy" MSNBC news report went into detail about the CPI (Consumer Price Index) and how was inflation was faring in July of 2022. Conumser Price Index is an index that measures the average change in prices paid by consumers for goods and services over time. This is one of the most popular measures of inflation. The guest Larry Summers, who was Bill Clinton's former Administration Treasury Secretary, goes into how yes the inflation year over year for July was less than what economists expected at 8.5%, he still advised caution. He goes onto say, “We have a very serious inflation problem in this country. I don't think that inflation problem is going to go away of its own…
The "Coming Economy" is about Larry Summers acknowledges that the current inflation dynamics may differ from those observed in March, emphasizing the need for additional data to gain a comprehensive understanding of the situation. He underscores that inflation remains a significant concern in the United States and is unlikely to naturally subside. Summers points out that the core inflation rate has outperformed expectations, primarily due to the notable contribution from sectors such as hotels, airlines, and the pricing of used cars. Moreover, Summers suggests a high probability of an impending recession, even though each successive period without a recession diminishes the likelihood of one occurring. Additionally, the Inflation Reduction Act is anticipated to bring about significant changes with respect t…