Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Say It Ain't So, Larry (Summers, Obama economic adviser)
Weekly Standard ^ | June 8, 2009 | Irwin M. Stelzer

Posted on 05/30/2009 2:24:21 PM PDT by reaganaut1

Ninety years ago the Chicago White Sox intentionally lost--dumped, to you sports fans--the World Series. Legend has it that a young fan implored the team's star, "Shoeless" Joe Jackson, as he emerged from the court house, "Say it ain't so, Joe." The Shoeless one allegedly responded, "Yes, I'm afraid it is, kid."

Let's hope that chief White House economic adviser Larry Summers wouldn't respond similarly if someone were to charge that he sat silently when the administration's political types decided it would be just fine to submit a budget that will take the ratio of debt-to-GDP from around 40 percent to 80 percent--most critics say 100 percent is where the debt-to-GDP ratio will in fact end up in ten years. Surely Summers knows that many economists use a rule-of-thumb that suggests that such an increase will force interest rates up between 1.25 and 1.5 percentage points, with unpleasant consequences for our economic growth rate. Or that, according to the highly regarded Stanford professor John Taylor, we could only inflate our way out of the problem by allowing a 100 percent rise in the price level over a ten-year period.

More important, it was only a few weeks ago that Summers told an audience at the Brookings Institution that it is "a criterion of fiscal sustainability that ensures that once the economy has recovered, the ratio of the nation's debt to its income stabilizes rather than continuing to grow. Once your income has returned to normal ... your debts can't be rising relative to your income." But just such an increase is built into the president's ten-year budget.

Summers is famous for his intellect and ability to shoot down nonsensical ideas, so if he was not asleep or absent, he must have gone along. Say it ain't so, Larry.

(Excerpt) Read more at weeklystandard.com ...


TOPICS: Business/Economy; Editorial
KEYWORDS: agenda; bho44; bhoeconomy; fordfoundation; geithner; horowitz; indonesia; irwinstelzer; larrysummers; shadowgov; shadowparty; soros; stelzer; summers

1 posted on 05/30/2009 2:24:21 PM PDT by reaganaut1
[ Post Reply | Private Reply | View Replies]

To: reaganaut1
Ok, call me a old nutcase that should stop trying to think, but I wonder if there is a great plan coming down the pipe that will result in America falling out of control on all fronts and by the time the majority realize there really is someone behind the curtain and they have been had,it's too late and civilian resistance will fail over the long term. Christianity will be banned, the monetary system will be a world wide system and there will be only 2 classes....the rest of the world and the ruling few(with rags on their heads)
2 posted on 05/30/2009 2:33:58 PM PDT by shadeaud ("If you can't beat them, arrange to have them beaten." -- George Carlin st)
[ Post Reply | Private Reply | To 1 | View Replies]

To: reaganaut1
Summers is famous for his intellect and ability to shoot down nonsensical ideas, so if he was not asleep or absent, he must have gone along. Say it ain't so, Larry.

Summers was in Bildo Klintoon's administration. Stop giving him credit for being a good guy.

3 posted on 05/30/2009 2:36:04 PM PDT by Dahoser (The missus and I joined the NRA. Who says Obama can't inspire conservatives?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: shadeaud

I think you’re entitled to come up with any crazy sounding theory you want because none of what is going on makes sense.

Our loftiest people are standing by while zero flushes us down the toilet. Is there a gun to the heads of those who actually know better? They sure act like it.


4 posted on 05/30/2009 2:37:34 PM PDT by Aria ( "The US republic will endure until Congress discovers it can bribe the public with the people's $.")
[ Post Reply | Private Reply | To 2 | View Replies]

To: reaganaut1
such an increase will force interest rates up between 1.25 and 1.5 percentage points

That's all?? Jimmuh Cotter would have been thrilled with that.

5 posted on 05/30/2009 2:42:46 PM PDT by Right Wing Assault ( Obama, you're off the island!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Aria

It is quite possible that those who know better prefer to hold their fire until his personal popularity is down.


6 posted on 05/30/2009 2:46:41 PM PDT by expatpat
[ Post Reply | Private Reply | To 4 | View Replies]

To: Right Wing Assault
will force interest rates up between 1.25 and 1.5 percentage

I think, he misplace the decimal place.

7 posted on 05/30/2009 2:46:47 PM PDT by razorback-bert (We used to call them astronomical numbers. Now we should call them economical numbers.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Dahoser
Summers is famous for caving in and baring his throat to a bunch of menopausal feminazis at harvard. The guy's a clintonoid douchebag sellout. F* him.
8 posted on 05/30/2009 2:58:52 PM PDT by hinckley buzzard
[ Post Reply | Private Reply | To 3 | View Replies]

To: razorback-bert
I think, he misplace the decimal place.

I hope not by TWO places, but who knows?

9 posted on 05/30/2009 3:01:31 PM PDT by Right Wing Assault ( Obama, you're off the island!)
[ Post Reply | Private Reply | To 7 | View Replies]

To: shadeaud

I don’t think you are a nut case. The left would call you a vast right wing conspiracy theorist loon. obama and napolitano would call you a terrorist. /wink

I think what you just described if taken to a Grand Jury they would indict based on what obama has done in a very short time and he tells his Hollywood communists, You ain’t see nothing yet! (that’s a threat to conservatives by the way) They would see the evidence and say it needs a full trial. When people say there is no evidence and it is too soon to say obama is a bad president, I think by the time they ALLOW us to grade obama it will be too late.

Republicans are a minority and a seriously low minority. But they can speak out. But they have been warned by obama many times. Don’t get in my way, you have no new ideas when republicans have given their ideas at every bill only to be tossed in the trash, the party of no, I won, you are a racist, you are afraid of black people, change is hard, etc. People voted for change. although they had no clue it would be detrimental change to the country.

Their political careers are on the line and they have even been warned recently if they speak out about sotomayor they will be the minority forever. The dems can destroy anyone, call them sexist, racist, but the republicans have been warned to keep their mouth shut on everything we know about sotomayor. dems destroyed Clarence and one other scotus with hate speech.

GIBBS: I think it is probably important for anybody involved in this debate to be exceedingly careful with the way in which they’ve decided to describe different aspects of this impending confirmation.

Now similarly from the Rush Limabaugh website a similar threat;

From the AP today: “Iranian President Mahmoud Ahmadinejad said his country has boosted its capacity to enrich uranium, another sign of anti-Western defiance by the leader seeking re-election. ‘Now we have more than 7,000 centrifuges and the West dare not threaten us.’” Well, shazam, you know, Mahmoud Ahmadinejad sounds like Robert Gibbs. Robert Gibbs: “Be very careful what you say about this nomination.” Mahmoud Ahmadinejad: “The West dare not threaten us.”

Obama warns about what will come because he knows what he is doing is Unconstitutional, racist and evil. In his warning he is saying, republicans will not like this, they will say, blah, blah. Then his supporters have been setup so when they hear it, yeah obama said they would do that.

For republicans to speak they risk losing permanently they think. I don’t. I think our country was founded on conservative principles but little by little progressives have moved to have their thoughts as the only ones taught in schools and now media. Now they won and are on control. Now people who do not read online are wondering WT is happening. This is all Bushs fault like obama has braniwashed them to believe.

Conservatives now have taxation without representation. No one is speaking out full force for us. And when they sit idly by and vote for sotomayor they do not represent us.


10 posted on 05/30/2009 3:24:17 PM PDT by OafOfOffice (Constitution is not neutral.It was designed to take the government off the backs of people-Douglas)
[ Post Reply | Private Reply | To 2 | View Replies]

To: reaganaut1; SAJ; groanup; expat_panama; Petronski; Mase
according to the highly regarded Stanford professor John Taylor, "A hundred percent increase in the price level means about 10 percent inflation for 10 years"

They don't make highly regarded Stanford professors like they used to.

11 posted on 05/30/2009 3:46:29 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Toddsterpatriot

The professor does not know the rule of 72, huh?


12 posted on 05/30/2009 3:49:06 PM PDT by NeoCaveman (control the teleprompter, control the world)
[ Post Reply | Private Reply | To 11 | View Replies]

To: razorback-bert

maybe 2.


13 posted on 05/30/2009 3:49:18 PM PDT by genghis
[ Post Reply | Private Reply | To 7 | View Replies]

To: NeoCaveman

Yeah, hard to believe. Not a small error either. 10 years of 10% inflation is almost 160% higher prices.


14 posted on 05/30/2009 3:57:58 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 12 | View Replies]

To: shadeaud

Sounds like you have a true picture of Obama’s goals.


15 posted on 05/30/2009 4:05:39 PM PDT by abclily
[ Post Reply | Private Reply | To 2 | View Replies]

To: Toddsterpatriot
Sounds rather like an ordinary academic dildo who can't comprehend compound multiplication.

A 100% price increase over 10 years is, per year on average, the rate of 1 + the 10th root of 2.

10% inflation for 10 years is hardly 100%: this would represent the 10-year-future price level as being exactly 2.59374 times the current price level (assuming a broad spread of mkts sampled).

Taylor is, apparently, better off confined to his ivory tower than dealing in the real world.

16 posted on 05/30/2009 9:08:59 PM PDT by SAJ
[ Post Reply | Private Reply | To 11 | View Replies]

To: shadeaud
You see clearly. The text on my comment #16 here: Barack Obama and the CIA: why does President Pantywaist hate America so badly?

First, the assumption that American citizens are "his people" is incorrect. Barry is a global citizen - not an American patriot.

Second, his cabal is concerned with control - control of thought, speech, and outcomes (winners and losers). This control must be managed by a very limited number of elites so freedom and liberty don't erode their agenda. He can't move too fast or it will jeopardize exposing the motivations behind his campaign of "change".

Lastly, his "flip flops", as the willingly ignorant are portraying his changes in direction, are nothing more than probing the breadth and depth of tolerance to his deconstruction of our system of checks and balances, our sovereignty, and our global economic and military dominance emanating from inalienable individual liberty. His aim is to equalize our global position so when necessary, we can be chastened into compliance by other useful idiot nations.

17 posted on 05/31/2009 11:52:34 AM PDT by uncommonsense (liberals see what they believe and conservatives believe what they see)
[ Post Reply | Private Reply | To 2 | View Replies]

To: All

Okay, here are the connections if you want to research and believe why we are doomed if we do not demand the government STAND DOWN from their destructive actions against the American people.

http://www.commoditynewscenter.com/articles/Insight/How_Geithner_Became_Secretary_of_the_Treasury

Summers, Geithner, Ann Dunham worked for Ford foundation Indonesia, Geithners father head of Ford Foundation Indonesia, Bill and Hillary Clinton and Obama ties the links together with his nomination of Geithner who was not experienced for the position.

And obama was correct, all the planets (people) are in alignment.

If you really want a shocker, read Horowitz Shadow party. You only have to read the last three chapters to see what soros planned is going on right now. He had wanted his plans to work during Clintons last term.

Soros wants a global bank that he controls. The bank would have fake money, SDR’s. He would hand out the money as he saw fit to impoverished countries. He feels he is best to control something like this. The 28th wealthiest man in the world feels America’s supremacy must be taken down. The way is to tax America to death and hand it to other nations as he pilfers off the top as he has in the past for his schemes such as this. We live too well, he wants to take it away. We are the Super Power, that disgusts him.

Soros heavily involved in Obama’s administration and was part of the obama agenda put in place before obama took office.

As you read the book you will see how Clinton had a 3rd plan to rescue the economy but he would never be able to implement it because the economy came back. It is the same 3rd plan we are seeing today. With all the people in place they just keep the crisis going until everything in their plan is done.

Think this is a conspiracy theory? Well, first off, Horowitz felt he was talking about Hillary who Soros would back. With obama horowitz came out vehemently against birthers. I don’t know why Horowitz changed his mind because of the candidate but I did post it to him and he never answered. But in my mind obama and Hillary are the same. They know the same people, they have communist ties, they have the same goals. They both adore saul alinsky.

Secondly, if you can get the book, soros is the one they quote from soros books. Then if brave get soros actual books. Soros says one thing in his books and another to reporters so he seems a little bi-polar or manipulative? He has no fear of lying to get what he wants. And the scary part is Geithner and Obama are doing exactly what Soros wants. Remember SDR’s being spoken about and IMF 100 billion in funding obama wants? IMF funding that goes to terrorist nations and is never paid back?

The bank would initially be controlled by the UN. Obama wants the UN to have trillions for global poverty and global warming. But then soros says they would take over the control of the bank.

In the book soros says he was delighted his manipulations and his power of the media took down Georgian President Eduard Shevardnadze. When you read how he did it you can see it is how Obama was helped here in the states with the control of the media.

Bill Clinton needed Geithner to be appointed to make sure all of his international fund raising would not be wiped out that was sitting in banks. Geithner is to continue funneling as much money as needed to banks.


18 posted on 05/31/2009 11:58:17 AM PDT by OafOfOffice (Constitution is not neutral.It was designed to take the government off the backs of people-Douglas)
[ Post Reply | Private Reply | To 1 | View Replies]

To: OafOfOffice; null and void; stockpirate; PhilDragoo; Candor7; MeekOneGOP; Myrddin; ...
why we are doomed if we do not demand the government STAND DOWN from their destructive actions against the American people.

Ping List Ping.

Check out article and #18, #17, #10.

19 posted on 05/31/2009 12:09:07 PM PDT by LucyT
[ Post Reply | Private Reply | To 18 | View Replies]

To: LucyT; OafOfOffice; null and void; stockpirate; PhilDragoo; Candor7; MeekOneGOP; Myrddin; ...



HOW ABOUT WE TAKE THE REPUBLIC BACK NOW
BEFORE HE BRINGS THE ARMY BACK


20 posted on 05/31/2009 12:39:13 PM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
[ Post Reply | Private Reply | To 19 | View Replies]

To: All

If you don’t own a house, you are paying for one for millions of others.

http://www.usatoday.com/news/washington/2009-05-28-debt_N.htm

Fed Gov Debt = $668,621 Per Household and climbing.

“We have a huge implicit mortgage on every household in America — except, unlike a real mortgage, it’s not backed up by a house,” says David Walker, former U.S. comptroller general, the government’s top auditor.


21 posted on 05/31/2009 12:54:00 PM PDT by OafOfOffice (Constitution is not neutral.It was designed to take the government off the backs of people-Douglas)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Toddsterpatriot

Maybe this is the guy that taught math to John Williams. If so, it’s understandable why his statistics, and his methodology, hide in the shadows.


22 posted on 05/31/2009 12:54:54 PM PDT by Mase (Save me from the people who would save me from myself!)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Lady Jag; devolve; ntnychik; PhilDragoo; dixiechick2000; All
This balloon needs to be popped - soon - or there will be no 'future'!!


23 posted on 05/31/2009 1:08:57 PM PDT by potlatch
[ Post Reply | Private Reply | To 20 | View Replies]

To: Lady Jag

What do you think this guy is funny he use to be host on QVC

We need some cash!
http://www.soundclick.com/player/single_player.cfm?songid=6976916&q=hi&newref=1


24 posted on 05/31/2009 1:12:47 PM PDT by restornu (If a man has the potential become a Devil, has he not the same potential to be come like his Lord?)
[ Post Reply | Private Reply | To 20 | View Replies]

To: potlatch

25 posted on 05/31/2009 2:45:24 PM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
[ Post Reply | Private Reply | To 23 | View Replies]

To: OafOfOffice
Our dilemma as Republicans is the same as it was ten years ago.

We have to decide that conservatism is the light, the way, the path, the option that people will take if given the chance.

We have to not only preach conservatism but act it as well. IF we do and the American voters are given the choice socialism will lose every time.

But not to watered down rinoism.

26 posted on 05/31/2009 3:43:25 PM PDT by rodguy911 (HOME OF THE FREE BECAUSE OF THE BRAVE--GO SARAHCUDA !!)
[ Post Reply | Private Reply | To 10 | View Replies]

To: uncommonsense

Everything you said makes sense except for the part he can’t move too fast since he is.


27 posted on 05/31/2009 3:45:50 PM PDT by rodguy911 (HOME OF THE FREE BECAUSE OF THE BRAVE--GO SARAHCUDA !!)
[ Post Reply | Private Reply | To 17 | View Replies]

To: Lady Jag

60 Years - An Economic Song Parody
http://www.youtube.com/watch?v=l2MjPBNQfv8

We Need Some Cash
http://www.soundclick.com/player/single_player.cfm?songid=6976916&q=hi&newref=1


28 posted on 05/31/2009 4:22:34 PM PDT by restornu (If a man has the potential become a Devil, has he not the same potential to be come like his Lord?)
[ Post Reply | Private Reply | To 20 | View Replies]

To: potlatch; Lady Jag

You two are GREAT!

I love your graphics!


29 posted on 05/31/2009 4:25:48 PM PDT by dixiechick2000 ("Dick Cheney gets results" ~~ Rush Limbaugh)
[ Post Reply | Private Reply | To 23 | View Replies]

To: restornu
The guy who sings the song on your link is excellent.

The guy who says we can't go anywhere or burn any fuels because he has to go off on million dollar jaunts every few hours is a criminal and has to go.

GIVE ME BACK MY REPUBLIC!


30 posted on 05/31/2009 4:45:28 PM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Lady Jag

Steve Bryant - A Beautiful Day in Guantanamo
http://www.soundclick.com/player/single_player.cfm?songid=7279538&q=hi&newref=1


31 posted on 05/31/2009 4:46:40 PM PDT by restornu (If a man has the potential become a Devil, has he not the same potential to be come like his Lord?)
[ Post Reply | Private Reply | To 30 | View Replies]

To: OafOfOffice
Fed Gov Debt = $668,621 Per Household and climbing.

Math education in America, weak and getting worse.

32 posted on 05/31/2009 4:49:17 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 21 | View Replies]

To: restornu

Steve Bryant - A Beautiful Day in Guantanamo
You tube
http://www.youtube.com/watch?v=QcGIt24UQjk


33 posted on 05/31/2009 4:52:35 PM PDT by restornu (If a man has the potential become a Devil, has he not the same potential to be come like his Lord?)
[ Post Reply | Private Reply | To 31 | View Replies]

To: Lady Jag

My Space - An Anti-Pedophile Parody
http://www.youtube.com/watch?v=8R0mfZ2SBSA


34 posted on 05/31/2009 4:55:01 PM PDT by restornu (If a man has the potential become a Devil, has he not the same potential to be come like his Lord?)
[ Post Reply | Private Reply | To 30 | View Replies]

To: restornu
Very clever. And right on.

They want to make us think they're crazy and that we're crazy, too.

Gitmo was customized for Mideast terrorists and is grander with more amenities than any continental prison. There are ball courts, arrows pointing east everywhere, and the weather is perfect.

When Obama decides something he never gives a reason because there is no plausible one.


35 posted on 05/31/2009 5:33:29 PM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
[ Post Reply | Private Reply | To 31 | View Replies]

To: dixiechick2000; Lady Jag
Thank you DC. We are a mutual admiration society, lol.
36 posted on 05/31/2009 5:35:25 PM PDT by potlatch
[ Post Reply | Private Reply | To 29 | View Replies]

To: dixiechick2000
Thank you! I needed that!


37 posted on 05/31/2009 6:45:13 PM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
[ Post Reply | Private Reply | To 29 | View Replies]

To: restornu
Do I know this guy?

Beautiful Day in Guantanamo is funny!

The prisoners are happier there and Americans are happy with them there.

And now one's ever escaped from Gitmo.


Gitmo how I love ya, how I love ya
My dear old Gitmo
I'd give the world to stay
Among the folks in G-I-T-M-O even know they
They want to move me
To a dark hole.



38 posted on 05/31/2009 7:59:59 PM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
[ Post Reply | Private Reply | To 31 | View Replies]

To: Aria
Our loftiest people are standing by while zero flushes us down the toilet. Is there a gun to the heads of those who actually know better? They sure act like it.

Your post creeped me out. Why? Why are people in powerful positions just standing by? It doesn't make sense. What is really going on in our country?

39 posted on 05/31/2009 8:05:44 PM PDT by jersey117
[ Post Reply | Private Reply | To 4 | View Replies]

To: Lady Jag
I LOVE IT!!!


Photobucket


I hope you don't mind. Check my homepage!

40 posted on 05/31/2009 8:31:39 PM PDT by dixiechick2000 ("Dick Cheney gets results" ~~ Rush Limbaugh)
[ Post Reply | Private Reply | To 37 | View Replies]

To: Lady Jag

It is a satire on Mr Rogers neighborhood

This guy is very talented and these songs should get out to America so they wake up it is only heard on a one radio station in Pittsburge


41 posted on 05/31/2009 8:54:26 PM PDT by restornu (If a man has the potential become a Devil, has he not the same potential to be come like his Lord?)
[ Post Reply | Private Reply | To 38 | View Replies]

To: dixiechick2000
LOL! Glad you like it. I hadn't seen your page before and it seems to fit perfectly. Seems serendipitous.
42 posted on 05/31/2009 9:12:08 PM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
[ Post Reply | Private Reply | To 40 | View Replies]

To: Toddsterpatriot
They don't make highly regarded Stanford professors like they used to

LoL. To think Stanford is a top 10 MBA program...

43 posted on 06/01/2009 6:10:23 AM PDT by Fan of Fiat
[ Post Reply | Private Reply | To 11 | View Replies]

To: restornu

Won’t you be my friend? I coult tell the song was after Mr Rogers Neighborhood by the title. That’s why I did the satire on Swanee.

Obama is a satire but no one feels like being playful with him.


44 posted on 06/01/2009 8:40:24 AM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
[ Post Reply | Private Reply | To 41 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson