Replies to post #498939 on Tornado Alley (PROG)

[B402]

Biden was warned by Obama's economic advisor Larry Summers.....

Wanna play both sides see what he said about trumps current plans ;)

Quit making excuses and deal with reality....Biden and Harris had their chance to avoid the worst part of inflation, but he went with political wins instead...Or, a novel idea, just find the money to do what you want to implement.... Not just debt, debt, debt

Summers said that while he supports Biden’s efforts to raise the minimum wage, step up regulation and boost unions, he warned that these policies can be inflationary. That’s why he’s been “troubled by the policy posture” of the Biden administration and pointed to how inflation helped elect Republicans in 1968 and 1980.

https://www.cnn.com/2021/05/26/economy/inflation-larry-summers-biden-fed/index.html#:~:text=Summers%20said%20that%20while%20he%20supports%20Biden%E2%80%99s

[OMOLIVES]

How do you mean it's not the same? You should also study the topic a bit more. If you did , you would understand that bank deposits were never raised in order to fulfill lending obligations. They in turn just originated mortgages and shipped them out. Then they used all the mortgage cash payments and put them into CDO's and MBS's.

The lack of oversight from the Federal reserve was the main contributing factor...be it the Comptroller(Department of the Treasury)..all lading to the enablement of the rescission. CDO's started with Junk Bonds in the late 80's and all that shit thrived through the 90's until it collapsed circa 2007.

You need to rethink your position by engaging in relative subject matter. Sorry to say that...the truth is never pretty, but at least it is the truth.