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Larry Summers, Obama's Optimistic Keynesian

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Here's what Gerard Jackson thinks of him:


Here's his Bloomberg interview today:


Listen from 6mins 30secs in. He admits there is no guarantee of income growth or any recovery in 2010. Goes on to say that real disposable income has risen because of benefits payments! He expects at least one quarter of real disposable income growth this year or next year. One quarter!?

The bad news is being trickled out slowly - there is no recovery. Just a hard landing.

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is this the senior Obama advisor who makes millions giving speeches to the banks he helped bail out with taxpayer cash, or another Larry Summers?

i lose track...

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Yes odd how there is all this downplaying of expectations all of a sudden isn't it?

There might be a 'w' shaped recovery.

Apparently it will be a 'jobless recovery'.

It will also 'feel like we are still in recession'.

Isn't that called a recession then, not a recovery?

Or are we going Japanese? Perhaps we can sell the global recovery rights to 'Hello Kitty'?

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