Comments by "DiewConklan" (@hRt42kuo7jTtmk14) on "We're Moving Toward Higher Entrenched Inflation, Says Larry Summers" video.

@gabb05 then I suggest you listen to someone else who believes in the opposite of what he’s saying, assuming you can find someone who believes the opposite. There isn’t a different opinion to be offered. It is what it is. The Fed screwed up and they still aren’t doing the right thing yet. Things are going to get even uglier if the Fed starts hiking and inflation doesn’t budge. That’s also a very real possibility.
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But the dude is right and the narrative he offers is correct. No reason to vary his opinion when the one he is already giving is spot on. The thing that needs to change is the Fed asset buying and they need to switch to stepping hard on the gas to raise rates.
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Here we go, full Volcker mode!
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Rates at 10% by mid 23 baby. Fasten your seat belt Dorothy cause Kansas going bye bye.
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Yup, anal-ists everywhere! Hope they at least see the 10% rates coming.
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@eljefe5858 the system will survive. It will just be a rinse and repeat from the early eighties. But it’s going to be painful. Cash will be king.
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@30H3Sunrise agreed, that has been their problem. Powell is just doodling around, putting his head in the sand and hoping the problem goes away by itself. But Brainard seems to get it. In the end though I think they will be forced to do the right thing once they have been confirmed in their appointments. Congress will start putting pressure on them to do their job. Right now they are still playing up to Wall Street, but eventually they will start hiking and act as if they hate doing it, but that they tried everything else and no they have no choice.
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