The entire world knows that Larry Summers would be the absolute WORST pick for Fed chairman, therefore the only reason I can see for his appointment would be as the “fall guy” for an overly financialized and falsely puffed-up economy about to implode again. I can see it plainly – appoint Summers, who then withdraws QE Infinity, and the markets tank hard (while providing some “demand destruction” to tame oil prices for a while). With some of the economic indicators coming in right now, I don’t know if the markets will stay afloat long enough for Summers to take the hit, but if he is appointed, that is the only function I see him serving. We know that Summers is a complete tool, but apparently he is the right tool for Obama. Prepare for another massive economic realignment, a big slide down akin to 2008 and beginning with a stock market crash. - Wes
Posted on: Thu, 25 Jul 2013 12:15:50 +0000
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