Here is a Bloomberg article discussing how former Harvard President and current Obama advisor Larry Summers, the guy who sooth-said all those unsophisticated 'investors' into long term US treasuries last spring, pulled the bonehead move of the century for the supposed bastion of higher intelligence, Harvard U.
Harvard Swaps Are So Toxic Even Summers Won't Explain
"Most of the wrong-way bets were made in 2004, when Lawrence Summers, now President Barack Obama’s economic adviser, led the university."
Would it be a stretch to say that our country has become a cartoon? We have rock star economics professors like Krugman and Roubini pitching inflationary policy as a solution. Duh, really? When in doubt, INFLATE! Okay I get it too, you can email me my degree and speaking engagement schedule.
We have clowns like Larry Summers advising other no-nothings on the most important macro issues. We have a Ponzi scheme that is the US-China trade relationship and we are just played out, man.
Silly, dangerous and pretty depressing... but it is what it is and we gots ta deal with it. Okay, back to the newsletter grumpy.
