Home › Forums › Financial Markets/Economics › Larry Summers lost a Billion and won’t talk about it
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Allan from Fallbrook.
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December 18, 2009 at 10:15 PM #16831December 19, 2009 at 9:48 AM #495538
EconProf
ParticipantLarry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.December 19, 2009 at 9:48 AM #495692ParticipantLarry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.December 19, 2009 at 9:48 AM #496077ParticipantLarry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.December 19, 2009 at 9:48 AM #496165ParticipantLarry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.December 19, 2009 at 9:48 AM #496404ParticipantLarry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.December 19, 2009 at 11:58 PM #495719Anonymous
Guest[quote=EconProf]Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.[/quote]“Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments.”
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!!
December 19, 2009 at 11:58 PM #495875Guest[quote=EconProf]Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.[/quote]“Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments.”
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!!
December 19, 2009 at 11:58 PM #496260Guest[quote=EconProf]Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.[/quote]“Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments.”
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!!
December 19, 2009 at 11:58 PM #496347Guest[quote=EconProf]Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.[/quote]“Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments.”
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!!
December 19, 2009 at 11:58 PM #496587Guest[quote=EconProf]Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments. (Another is Lester Thurow, who a lapdog media interviewed incessantly because he was telegenic, exuded confidence, smilled a lot, but was consistently wrong in his forecasts).
Yes, Summers was colosally wrong in his investment record and forecast, and had to be involved in telling Obama last March the unemployment rate would not exceed 8% if only the stimulus bill is passed. He also criticized Bush II in an academic paper some years ago for extending unemployment benefits. Said doing so actually worsens unemployment because it encourages some on the margin to become picky and turn down job offers (true BTW–economists are agreed on this).
So what Summers-advised administration is now extending unemployment benefits to (I believe) the longest in history at 78 weeks? Obama’s.
I just wish journalists and editors would keep track of economist’s stands and forecasts and start elevating those who have proven correct and ignor those with a dismal record.[/quote]“Larry Summers is one of too many economists that seem to succeed despite their dreadful record of accomplishments.”
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!!
December 20, 2009 at 11:29 AM #495779Allan from Fallbrook
Participant[quote=PDQ]
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!![/quote]
Let’s not forget Rubin or Geithner, either.
December 20, 2009 at 11:29 AM #495936Participant[quote=PDQ]
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!![/quote]
Let’s not forget Rubin or Geithner, either.
December 20, 2009 at 11:29 AM #496318Participant[quote=PDQ]
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!![/quote]
Let’s not forget Rubin or Geithner, either.
December 20, 2009 at 11:29 AM #496405Participant[quote=PDQ]
Gee…I wish Summers was more like Bernanke or Greenspan. No one can run things into the ground like those two!!![/quote]
Let’s not forget Rubin or Geithner, either.
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