What’s Next for the U.S. Economy? with Lawrence H. Summers

What is the outlook for the U.S. economy? Inflation. Interest rates. The budget deficit. In this Wiener Conference Call, former U.S. Secretary of the Treasury Lawrence H. Summers shares his perspective on which economic policies are working, which are not, and what policymakers can do in the current political and economic climate to maximize inclusive growth and prosperity.
Wiener Conference Calls recognize Malcolm Wiener’s role in proposing and supporting this series as well as the Wiener Center for Social Policy at Harvard Kennedy School.
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[@dinkeydink9376]

Thanks for sharing! Always interesting to hear what one of the absolute biggest economist has to say! ❤

[@georgeflitzer7160]

Thank you for this conversation….!

[@chromazona]

What a fascinating conversation! I too want more...

[@stephenyang2844]

I believe in Dr. Summer‘s observation-prediction on a likelihood of hard landing; also on a positive impact of AI.

[@edwardb7811]

He’s full of good news.

[@ruckboger]

It's smart to ask the guy who helped create the derivatives market, which helped cause the global financial crisis.

[@dannywindham3295]

He absolutely helped cause the 2008 financial crisis. One of the slimiest economists that's ever existed.

[@ruckboger]

@@dannywindham3295I remember that him and his cronies tried to destroy the reputation of a regulator at the SEC who was pushing back on derivatives. I don't remember her name but she was the one person who resisted.

[@ruckboger]

@@dannywindham3295 I think it was Brooksley Born

[@dannywindham3295]

@@ruckboger Brooksley born

[@dannywindham3295]

She was appointed by clinton to head up the c f t c the commodity futures trading commission. Summer's green span Robert reuben Took her down.

[@satan3347]

I am baffled by the answer re measurements when those who have enjoyed riding on widely wrong measurements & valuations & have been constantly impacting political decisions to particularly serve themselves at the detriment of their enemies & within the cycle of "ineveitable" measurment errors & falsities that they perpetuate only serve them to climb up the ladders of salaries & positions w no meaningful real world contibution what so ever except for self serving careerism.

[@georgeflitzer7160]

Social Security doesn't add to the national debt. It's paid for by the workers who paid into it.

[@dannywindham3295]

First of all there is no national debt larry summers is a liar. The united states federal government does not borrow its own currency that it creates that makes no sense. Social security is not going broke. Not in twenty years, not in ten years, not in a hundred years, not in two hundred years,. Social security is funded by the united states Federal government that can't run out of money. The fica tax is not paying for social security medicare medicaid or anything else, Federal taxes are collected to drive the need for the currency and control inflation. Not to fund the government it is impossible Learn m, m, t, please.

[@jeannovacco5136]

Idealistically and theoretically that should be true but the reality is that money is fungible and the government did not segregate, invest & maintain the Social Security trust fund in the way that people have been allowed to imagine. It ends up being just a bunch of calculations with the money having to be derived from somewhere and that's somewhere is the federal budget. Put more crudely, the money was not invested so it's less than it should be and it was used for other purposes and now it is considered buy some to be a big Ponzi scheme.
It never was pure insurance and could not have been because it started hanging out immediately instead of having people contribute for 20 or 40 years before providing benefits. In addition for applying to retirement it created disability benefits and benefits for children of the deceased which were reduced in the latter part of the 20th century but still provide a significant draw on the theoretical full of money to pay retirement benefits as if it were a type of joint and survivor annuity where the survivor benefits only extended to the next generation. What's more there are many social redistribution goals built into the entitlements so that if a man manages to marry four times for more than 10 years in each Union then all of the wives are entitled to benefits as equal to the benefits that just one wife would receive if his initial marriage had lasted, as I understand it. However if a man never marries, wife who never worked predeceases him, and before retirement age no benefits are paid out at all. Basically in that scenario people paying into the system are sharing the risk of surviving their working years.
Finally original retirement schemes were based on life spans of about 65 years old and now anticipated lifespan's for both men and women average much longer with numerous people living well into their nineties and drawing disproportionately upon the social security system . I'm not sure where SSI fits into the system but when it was introduced in the 1970s it had not been funded prior to distribution of benefits either and it is considered to be needs-based in relation to disability rather than any attempt at a pure actuarial calculation

[@dannywindham3295]

@@jeannovacco5136 Long winded academic bullshit

[@klam77]

And the Fed Gov takes the cash paid in to SS which is rightly SS's alone, and issues non tradable Gov debt securities instead! If China did sth similar Michael Pettis would be up in arms.

[@lukelewkowicz2233]

Spam or spac extraordinare!.

[@bgiv2010]

Will society end with a bang or a wimper? Both. It'll end with market crashes and capitalists blaming the victims.

[@AB-wg7qe]

When Satan shares in his plan, I listen😂

[@nancyk-ms3pc]

Summers looks so old he's not recognizable. Harvard is finished as being viewed as respectable.

[@quercusalba5441]

He is droning on and on in a very tedious fashion about nothing at all.

[@dopaminey9946]

It's a gift!

[@tuckerbugeater]

accept your ai master@@dopaminey9946

[@yummybeers]

This is great, thank you.
Given that Summers is always wrong about everything, this video has ruled out a whole bunch of possible futures

[@georgeflitzer7160]

Is the Trump tax cuts for the rich the problem here?

[@klam77]

Summers NEVER spoke against Trumpian vulgarity. NEVER.

[@flemuren2534]

Promo SM

[@qake2021]

👏👏🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦➕️‼️👍👍👍👍

[@bbityukov]

So pleased to see Professor Summers in good health and on top of things! 🎉

[@bbsara0146]

why does this guy think he knows so much about the economy? if he knew economy so well he would trade full time

[@user-pd2by1ox1y]

Harvard is shit university. Pity Larry Summers participate at your show.

[@dopaminey9946]

Excellent use of capitalist gibberish

[@alimay1011]

Larry Summers obviously got the best "advice" by visiting Epstein Island. wieners