Posts Tagged ‘Larry Summers’

“The Summers of Our Discontent”

This article is the 98th posted on The Huffington Post.

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The President named a new Fed Chairman.

Janet Yellen, currently Vice Chairwoman under Ben Bernanke, was selected by President Obama to head the most important financial institution in the world. The best choice he could make.

He was poised to make a huge mistake. One we couldn’t live with; one that would have caused more damage than has already been done.

The name of Larry Summers was recycled by the Obama administration, this time as a candidate for Chairman of the Federal Reserve.

But was Summers the right man for the job?

Read the rest of this entry »

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Posted in Banking, Economy, HuffPost Articles, Obama, Politics, Too Big to Bail | Comments Off

“An Economic View Into a New Decade”

The financial decade has ended and all evidence points to 10 years of nothing. That’s right, the stock market was actually down during the last decade!

A new decade has begun and with it comes high hopes for a much better decade than the last. At least for the market. The big question is, what will the next decade bring and what will the best bets be for investors?

As we entered 2000, a new millennium, we had what appeared to be a thriving economy. Jobs were plentiful, tech was booming, the country had a budget surplus, and a deficit of only $5 trillion.

A decade later we have unemployment at 10%, tech has leveled off and has moved to selling toys and gadgets, and the deficit climbed to $12 trillion. Banks are failing at an accelerating rate and big banks, those ‘Too Big to Fail’ after being pulled from the abyss with taxpayer money, are cheating the economy at a greater level than at any time since the 1920’s.

A lost decade? The worst in our nation’s history!

Are the prospects for a more prosperous decade any better than they were at the beginning of 2000?

Have conditions really improved? Read the rest of this entry »

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Posted in Economy, Predictions | 2 Comments »